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Intermediate microeconomics : A modern approach

01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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Journal ArticleDOI
TL;DR: Using Tobit specifications, results for the US for 1985–2006 indicate that airline performance is converging over time and airlines inter-temporal inefficiency peaked earlier and then converged, and airlines efficiency tends to be robustly affected by block hours; reducing them increases efficiency.

110 citations


Cites background from "Intermediate microeconomics : A mod..."

  • ...In production economics literature (see Varian (1999) for a basic discussion), efficiencies have been examined in two ways: technical and allocative....

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Journal ArticleDOI
TL;DR: In this paper, it is argued that the concept of utility as subjective well-being (happiness or satisfaction) is not only theoretically superior, but also measurable from survey information with sufficient precision.
Abstract: The two theories are evaluated relatively with respect to empirical adequacy. It is shown that utility statements derived within the standard approach cannot be related to experience. Contrary to what seems generally believed, revealed preference theory fails to make the widely accepted behavioristic utility concept ordinally measurable. It is argued that the concept of utility as subjective well-being (happiness or satisfaction) is not only theoretically superior, but also measurable from survey information with sufficient precision. If utility is understood as subjective well-being, the available data discredit the standard theory and fully support Duesenberry’s approach.

110 citations

Journal ArticleDOI
TL;DR: In this article, the macroeconomic effects of limiting China's CO2 emissions by using a time-recursive dynamic computable general equilibrium (CGE) model of the Chinese economy are analyzed.

108 citations

Journal ArticleDOI
TL;DR: This article introduces the economic notion of social costs, and distinguishes between the “true” social costs related to pathological gambling, and other negative consequences that cannot legitimately be classified as social costs.
Abstract: Much of the opposition to legalized gambling is based on analyses of the social costs that occur as a result of pathological gambling. It is our contention that many, if not most, authors who have contributed to this literature are either unclear or misguided in what they define as social costs. Instead of starting with a clear definition of what constitutes a social cost, these authors have adopted an ad hoc approach—using “common sense” to determine what constitutes losses to society and then attempting to quantify the impact of those activities. We believe this is not, as some suggest, simply a matter of semantics. Rather, it is a serious problem in the gambling literature. How do we differentiate between a consequence of pathological gambling that is a “social cost” and one that is not? Which of the consequences of addictive behaviors that are associated with gambling arise when gambling is legal, and which will be manifest in some form whether or not gambling is legal? In this article we explain the economic perspective on social costs. An understanding of this paradigm removes the subjectivity in the classification of pathological gambling's social costs. The paper has three major components. First, we introduce the economic notion of social costs. Using this paradigm, we differentiate between the “true” social costs related to pathological gambling, and other negative consequences that cannot legitimately be classified as social costs. Second, we evaluate a recent social cost study using the economics social cost paradigm. Third, we discuss two types of social costs that have been largely overlooked in the gambling literature. One is caused by gambling prohibition. The other occurs as a result of “rent seeking” that is related to the political process surrounding the legalization of gambling.

107 citations