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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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TL;DR: This study applies the Dynamic Slacks Based Model (DSBM) in order to assess the evolution of input saving/output increasing potentials in major Brazilian Banks from 1996 to 2011, and results indicate higher inefficiency levels and slacks in small public and national banks.
90 citations
01 Dec 2003
TL;DR: A model of users' satisfaction is developed, in which both requested quality of service and price paid are taken into account, which enables the model to investigate how resource allocation dynamics affect operator revenues and to derive some useful insights.
Abstract: Over the years, radio resource management has been benchmarked mostly by its technical merits. A service provider, however, must also reckon with economics. When the financial needs of the provider and the satisfaction of the users are considered, common objectives in radio resource management, like maximising throughput or meeting various quality constraints, may no longer be sufficient. We analyse next generation communication systems by including models of economics, which have been presented in the literature, and reasonable considerations to depict the users/provider relationship in a generalised multimedia environment. In particular, we develop a model of users' satisfaction, in which both requested quality of service and price paid are taken into account. The model enables us to investigate how resource allocation dynamics affect operator revenues and to derive some useful insights. Radio resource management can be shown to be highly dependent on economic considerations. The provider's task to determine the best usage of the network capacity is heavily affected by the users' service demand and their reactions to the pricing policy. Thus, the economic scenario needs to be taken into account to exploit the constrained radio resource efficiently. The model is applied to a CDMA cellular system.
89 citations
Cites methods from "Intermediate microeconomics : A mod..."
...The idea is to employ this concept derived from micro-economics [9] to mathematically depict the QoS...
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...The strong point of this model is the tunability, which makes it similar to the Cobb-Douglas demand curves [9], that are widely used in economics....
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TL;DR: The authors carried out a survey among a large group of undergraduate students of different disciplines to test whether the study of economics influences students' view on profit maximization and the market mechanism, finding that there are significant differences between economics students and the others, suggesting the presence of both a selection bias against the market system in non-economics students and a treatment effect in economics students.
88 citations
TL;DR: In this paper, the authors study the statistical link between leisure and happiness using survey data from 33 countries in 2007 and find that certain leisure activities, leisure's role in self-fulfillment and social interaction, and leisure's relation to work and other spheres of life are significantly linked to individual happiness.
Abstract: We study the statistical link between leisure and happiness Using survey data from 33 countries in 2007, we find that (1) certain leisure activities, leisure’s role in self-fulfillment and social interaction, and leisure’s relation to work and other spheres of life are significantly linked to individual happiness; (2) the effect of leisure quantity is not as important as other aspects of leisure; and (3) some leisure activities can be negatively associated with happiness Consistent with findings in previous studies, family income and individual demographic variables such as age and health condition are significantly associated with happiness National unemployment and political stability also have robustly significant effects on happiness
88 citations
TL;DR: This paper considers network supply chains with price dependent demand by modelling them as large acyclic networks, and develops a model to analyze the effect of these large-scale problems involving long sequences of contracts, and shows that contract leadership, as well as leader position, affect the performance of the entire supply chain.
Abstract: This paper considers network supply chains with price dependent demand by modelling them as large acyclic networks. Such large networks are common in the automobile and apparel industries. We develop a model to analyze the effect of these large-scale problems involving long sequences of contracts, and show that contract leadership, as well as leader position in the network, affect the performance of the entire supply chain. We generalize Spengler (Spengler, J. 1950. Vertical integration and anti-trust policy. J. Political Econom.58 347--352) to a game on a “contract tree” for a particular supply chain and extend the concept of double marginalization so that it can be applied in the form of a transformation to each contract that is offered by one member to another in the “contract tree.” We construct an algorithm to find the equilibrium solution, and derive the optimal location of the leader (“optimal” being the leader location that maximizes total supply chain profits). Our work formalizes many intuitive insights; for example, member profits are determined by systemwide rather than individual costs. Finally, we model Cournot competition between competing supply chains (both two heterogeneous trees and multiple identical trees) and show the effect of changes in leader position as well as cost structure on the equilibrium.
88 citations
Cites methods from "Intermediate microeconomics : A mod..."
...It is also similar to the concept of “factor demand” in microeconomics (see, for example, Varian 1987)....
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