"Since the early sixties, microeconomics has remained the main source of analytic tools for public and private decision making. This has generated a large area of activities in university curricula, scientific journals, and consulting conveniently known as managerial economics. In recent decades, the core foundation of microeconomics has considerably deepened. The field has enlarged both in scopeaddressing totally new issues such as globalization, governance and social responsibilityand conceptssuch as information asymmetries and behavioral economics. This volume, edited by Christopher Thomas and William Shughart, benefits from the most advanced academic developments thanks to the outstanding scholarship of its contributors. The broad perspective taken here is particularly welcome. It will be of considerable help to all of those who want to overcome the pitfalls of overspecialization both in theory and in applications."Jean-Pierre Ponssard, Professor, Ecole Polytechnique, France
The [Oxford] Handbook of Managerial Economicsby Christopher R. Thomas
The Oxford Handbook of Managerial Economics, the first of its kind, aims to provide researchers, practitioners, policymakers, and teachers with summaries of the most up-to-date research in the field of managerial economics. Edited by the coauthors of two managerial economics textbooks, this volume consists of 25 chapters contributed by leading scholars and business… See more details below
The Oxford Handbook of Managerial Economics, the first of its kind, aims to provide researchers, practitioners, policymakers, and teachers with summaries of the most up-to-date research in the field of managerial economics. Edited by the coauthors of two managerial economics textbooks, this volume consists of 25 chapters contributed by leading scholars and business consultants from around the globe, drawing on the literature of economics, finance, industrial organization, marketing, behavioral economics, game theory, and auction theory. The Handbook summarizes cutting-edge approaches to the analysis of the decision-making challenges faced by the managers of for-profit and not-for-profit enterprises. The problems addressed range from cost estimation, product development and promotion, optimal pricing strategies for network industries, and make-or-buy decisions to organizational design, performance pay, corporate governance, strategies for multinational corporations, and the social responsibilities of business. Each of the contributed chapters also identifies the problems that are yet to be solved and thus points the way toward topics for future research.
Managerial economics has moved far beyond simply applying neoclassical microeconomic theory to the actual world of practical business decision-making. By illustrating how disciplines other than economics can fruitfully be brought to bear in helping to analyze and to understand the incentives and constraints under which business managers operate, the Handbook fills in the gaps between theory and practice. Sometimes technical, but always reader-friendly, no one with an interest in the modern world of business or public policies can afford to ignore the analyses and the important lessons taught in this Handbook.
Meet the Author
Christopher R. Thomas is Associate Professor of Economics and has served as Exide Professor of Sustainable Enterprise at University of South Florida. He is the author or coauthor of many journal articles, book reviews, and chapters in books. His textbook in managerial economics is in its eleventh English edition and is also published in Chinese.
William F. Shughart II is J. Fish Smith Professor in Public Choice at Utah State University, a senior fellow of The Independent Institute, and the editor-in-chief of Public Choice. Previously the holder of three named professorships at the University of Mississippi, he is the author or editor of eleven books and has published more than 200 book chapters, peer reviewed academic journal articles, and book reviews.
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