Microeconomic foundations / David M. Kreps.

Format:

Book

Author/Creator:

Kreps, David M., author.

Language:

English

Subjects (All):

Microeconomics.

Microeconomics--Mathematical models.

Economics, Mathematical.

Genre:

Textbooks

Physical Description:

volumes : illustrations ; 27 cm

Place of Publication:

Princeton : Princeton University Press, [2013]-

Summary:

Volume 1: Microeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in first-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to take the reader from acquaintance with these foundational topics to something closer to mastery of the models and results connected to them. This title provides a rigorous treatment of some of the basic tools of economic modeling and reasoning, along with an assessment of the strengths and weaknesses of these tools. It complements standard texts. It covers choice, preference, and utility; structural properties of preferences and utility functions; basics of consumer demand; revealed preference and Afriat's Theorem; choice under uncertainty; dynamic choice; social choice and efficiency; competitive and profit-maximizing firms; expenditure minimization; demand theory (duality methods); producer and consumer surplus; aggregation; general equilibrium; efficiency and the core; GET, time, and uncertainty; and other topics. It features a free web-based student's guide, which gives solutions to approximately half the problems, and a limited-access instructor's manual, which provides solutions to the rest of the problems. It contains appendixes that review most of the specific mathematics employed in the book, including a from-first-principles treatment of dynamic programming.

Volume 2: Volume II of Microeconomic Foundations introduces models and methods at the center of modern microeconomic theory. In this textbook, David Kreps, a leading economic theorist, emphasizes foundational material, concentrating on seminal work that provides perspective on how and why the theory developed. Because noncooperative game theory is the chief tool of modeling and analyzing microeconomic phenomena, the book stresses the applications of game theory to economics. And throughout, it underscores why theory is most useful when it supports rather than supplants economic intuition. Introduces first-year graduate students to the models and methods at the core of microeconomic theory today; covers an extensive range of topics, including the agency theory, market signaling, relational contracting, bilateral bargaining, auctions, matching markets, and mechanism design; stresses the use--and misuse--of theory in studying economic phenomena and shows why theory should support, not replace, economic intuition; includes extensive appendices reviewing the essential concepts of noncooperative game theory, with guidance about how it should and shouldn't be used; features free online supplements, including chapter outlines and overviews, solutions to all the problems in the book, and more.

Contents:

1 Choice and competitive markets.

Notes:

Intended to be a three-volume work.--Volume 2, preface.

Includes bibliographical references and indexes.

ISBN:

9780691155838

0691155836

9780691250144

0691250146

OCLC:

781594069