Description
Book SynopsisRobert S. Pindyck is the Bank of Tokyo-Mitsubishi Ltd. Professor of Economics and Finance in the Sloan School of Management at M.I.T. Daniel L. Rubinfeld is the Robert L. Bridges Professor of Law and Professor of Economics Emeritus at the University of California, Berkeley, and Professor of Law at NYU. Both received their PhDs from M.I.T., Pindyck in 1971 and Rubinfeld in 1972. Professor Pindyck's research and writing have covered a variety of topics in microeconomics, including the effects of uncertainty on firm behavior and market structure; the behavior of natural resource, commodity, and financial markets; environmental economics; and criteria for investment decisions. Professor Rubinfeld, who served as chief economist at the Department of Justice in 1997 and 1998, is the author of a variety of articles relating to antitrust, competition policy, law and economics, law and statistics, and public economics.
Table of Contents
Brief Table of Contents Part 1: Introduction: Markets and Prices
- Preliminaries
- The Basics of Supply and Demand
Part 2: Producers, Consumers, and Competitive Markets
- Consumer Behavior
- Individual and Market Demand
- Uncertainty and Consumer Behavior
- Production
- The Cost of Production
- Profit Maximization and Competitive Supply
- The Analysis of Competitive Markets
Part 3: Market Structure and Competitive Strategy
- Market Power: Monopoly and Monopsony
- Pricing with Market Power
- Monopolistic Competition and Oligopoly
- Game Theory and Competitive Strategy
- Markets for Factor Inputs
- Investment, Time, and Capital Markets
Part 4: Information, Market Failure, and the Role of Government
- General Equilibrium and Economic Efficiency
- Markets with Asymmetric Information
- Externalities and Public Goods
- Behavioral Economics
Appendix: The Basics of Regression Answers to Selected Exercises
