Price Theory and Applications
Decisions, Markets, and Information
- Jack Hirshleifer
- Amihai Glazer, University of California, Irvine
- David Hirshleifer, The Paul Merage School of Business, University of California, Irvine
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This new seventh edition of the book offers extensive discussion of information, uncertainty, and game theory. It contains over a hundred examples illustrating the applicability of economic analysis not only to mainline economic topics but also issues in politics, history, biology, the family, and many other areas. These discussions generally describe recent research published in scholarly books and articles, giving students a good idea of the scientific work done by professional economists. In addition, at appropriate places the text provides 'applications' representing more extended discussions of selected topics including rationing in wartime (Chapter 5), import quotas (Chapter 7), alleged monopolistic suppression of inventions (Chapter 9), minimum wage laws (Chapter 11), the effects of Social Security upon saving (Chapter 15), fair division of disrupted property (Chapter 16) and whether individuals should pay ransom to a kidnapper (Chapter 17).Read more
- Dozens of examples, clear and direct writing, chapters on information and uncertainty
- Applications from economics are applied to issues in biology, law, anthropology, psychology, sociology and other fields
- Additional web site, text comes with selected solutions to problem sets
Reviews & endorsements
'This seventh edition of a now classic text in intermediate microeconomics develops the subject in a lively manner that should be attractive to both students and teachers alike … This is arguably one of the few best intermediate level microeconomics textbooks around.' Abhinay Muthoo, University of EssexSee more reviews
'Price Theory and Applications is a classic, but one that refreshes itself with every edition. Now, as ever, it has two particular strengths. One is in teaching the reader how to think like an economist, at a level both elementary and deep. The other is in its many examples drawn from the best and latest economic research.' Eric Rasmusen, Indiana University
'For coverage, clarity, and cleverness, this is the best microeconomic book available today. Its engaging examples illustrate the importance and beauty of microeconomics. The book highlights relevancy without compromising rigor.' Todd Sandler, University of Southern California
'The seventh edition of this classic text continues the tradition that Jack Hirshleifer started with early editions of the book. It doesn't just teach the basics of microeconomics like many of its rivals. It provides deep insights into the subject so that students walk away with a clear and rich understanding of what microeconomics is really about.' Michael Waldman, Cornell University
'This thorough revision of one of the best microeconomics texts provides fresh insights for a host of interesting issues … fun to read, with an offbeat and lively style. Its transparent analyses make the arguments accessible and understandable to students. ' Paul J. Zak, Claremont Graduate University
'When I needed a text for intermediate microeconomics, I had three criteria in mind: (1) a rigorous exposition that included calculus and yet did not require the reader to be a mathematician, (2) a discussion of cardinal versus ordinal utility with a 3-D graph showing indifference curves as contour lines on a utility surface, and (3) a book containing lots of real-world examples and applications. When I opened Price Theory and Applications, I knew my search had ended. Its wonderful treatment of capital theory - in particular the often neglected distinction between rent and interest - was just icing on the cake. Robert Murphy, Hillsdale College, Michigan
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- Edition: 7th Edition
- Date Published: December 2007
- format: Adobe eBook Reader
- isbn: 9780511343285
- contains: 187 b/w illus. 102 tables
- availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
Table of Contents
1. The nature and scope of economics
2. Working tools
3. Utility and preference
4. Consumption and demand
5. Applications and extensions of demand theory
6. The business firm
7. Equilibrium in the product market - competitive industry
8. Monopolies, cartels and networks
9. Product quality and product variety
10. Competition among the few: oligopoly and strategic behavior
11. Dealing with uncertainty - the economics of risk and information
12. The demand for factor services
13. Resource supply and factor-market equilibrium
14. Exchange, transaction costs and money
15. The economics of time
16. Welfare economics: the market and the state
17. Government, politics and conflict.
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