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Managerial Economics: Theory, Applications, and Cases

Managerial Economics: Theory, Applications, and Cases

by Allen, Weigelt and Doherty

  • ISBN

    :  

    9788130908601

  • Publisher

    :  

    W W Norton & Company

  • Subject

    :  

    Business & Management

  • Binding

    :  

    Paperback

  • Pages

    :  

    704

  • Year

    :  

    2010

895.0

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  • Description

    There is significant coverage of the economic crisis of 2008 and 2009. Bear Stearns, Lehman Brothers, Washington Mutual, and hazard, principal agent, adverse selection, and risk analysis - all critical for understanding the crisis - are treated at length and in depth. For over ten years, Bruce Allen, Keith Weigelt, and Neil Doherty have taught the Managerial Economics course at the Wharton School of Business at the University of Pennsylvania. Managerial Economics, Seventh Edition, reflects the modern course that has evolved at Wharton. The theme of competitive strategy is maintained throughout the text; and the coverage of pricing is the most inventive available. Managerial Economics, Seventh Edition, has nearly 100 real-world case studies, called Strategy Sessions. These sessions show students how managerial economics is practiced, using many case studies based on business news from, and events that have occurred in, 2005, 2006,2007,2008, and even 2009. Solving problems is the best way for students to internalize the lessons of applied business economics. The many carefully solved problems -Problem solved boxes in the text - provide solutions to the types of quantitative questions that students will encounter as managers. Table of Contents Part 1: The need for a guide Introduction Part 2: The nature of markets Demand theory Consumer behaviour and rational choice Part 3: Production and cost Production theory The analysis of costs Part 4: Market structure and simple pricing strategies Perfect competition Monopoly and monopolistic competition Part 5: Sophisticated market pricing The managerial use of price discrimination Bundling and intrafirm pricing Part 6: The strategic world of managers Oligopoly Game theory Auctions Part 7: Risk, uncertainty and incentives Risk analysis Principal-agent issues and managerial compensation Adverse selection Part 8: Government actions and managerial behavior Government and business Appendix Index

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