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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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Dissertation
01 Jan 2006
TL;DR: In this article, a case study is carried out with data from DnBNOR and some selected timeseries on exchange rates, all against NOK, to establish a methodology to reveal whether the risk appetite held by investors is dependent on the macroeconomic environment and to quantify this dependency.
Abstract: This thesis seeks to establish a methodology to reveal whether the risk appetite held by investors is dependent on the macroeconomic environment and, if present, to quantify this dependency. To do so a generic model is built and a case study is carried out with data from DnBNOR. The available data consists of the daily profit and losses together with the number and volume of transactions made in a currency portfolio owned by DnBNOR and some selected timeseries on exchange rates, all against NOK. Also, timeseries on the gross national product and consumer price index are collected from Statistics Norway. In the process of building the model, the thesis sets out the theoretical foundation for different risk measurement concepts and gives a presentation of the theory on business cycles as this is used to classify and measure the macroeconomic environment. The model is built with a Bayesian approach and implemented in WinBUGS. The use of Bayesian statistics is motivated by different time resolution of the data; some of the data is observed every day while other parts are observed each quarter. The thesis' main idea is to decompose the relevant part of the economy in one microeconomic and one macroeconomic state. The microeconomic state is unique for each day while the macroeconomic state accounts for one quarter; together they give the expected risk appetite for each day. In this way the impact from the macroeconomic state is quantified and the results show that the macroeconomic state is statistically significant for the risk appetite. As this is a case study one needs more data and research before any universal valid conclusions can be made.

3 citations

Proceedings ArticleDOI
01 Sep 2013
TL;DR: A scenario is proposed where a mobile operator owning a spectrum license leases part of the spectrum to a secondary operator and also competes against it for users and arguments are presented justifying the intervention of a Regulatory Authority to enforce the entry of an operator.
Abstract: In this paper, a scenario is proposed where a mobile operator owning a spectrum license leases part of the spectrum to a secondary operator and also competes against it for users. Users can choose to subscribe to either operator and they subscribe the optimal amount of spectrum. This scenario is modeled using Game Theory as a two-stage game. In the first stage both operators play a one-shot simultaneous game and the Nash equilibrium is used. In the second stage, the Wardrop equilibrium is used assuming optimal choice in spectrum subscription by users. The model is solved using background induction. Results show the conditions under which perfect equilibrium exists, and two scenarios are identified, depending on the amount of spectrum that is available. The results are assessed from the point of view of the operator's profits, from the user welfare and from the total welfare. Based on this assessment, arguments are presented justifying the intervention of a Regulatory Authority to enforce the entry of an operator.

3 citations

01 Jan 2011
TL;DR: In this paper, the authors build mathematical models to age specific fertility rates (ASFRs) and forward cumulative ASFRs for Jakarta, Indonesia and examined whether they are valid or not using model validation technique, cross validity prediction power (CVPP) and F-test.
Abstract: The purpose of this study is to build mathematical models to age specific fertility rates (ASFRs) and forward cumulative ASFRs for Jakarta, Indonesia. For this, the secondary data of ASFRs have been taken from Muhidin (2005). It is observed that ASFRs and forward cumulative ASFRs follow polynomial models. To examine whether they are valid or not, model validation technique, cross-validity prediction power (CVPP) and F-test are applied to those mathematical models. Keywords― Age Specific Fertility Rates (ASFRs), Polynomial Model , CrossValidity Prediction Power (CVPP), t-test, F-test. ——————————  ——————————

3 citations


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

  • ...6 Elasticity curve The elasticity is estimated using the formula mentioned by [12] [13] and [14] as...

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Book ChapterDOI
José Luis Iparraguirre1
01 Jan 2019
TL;DR: In this paper, the authors introduce the basic concepts studied in behavioural economics, including the anomalies and departures from the rational choice framework, along with a discussion of the main empirical findings.
Abstract: This chapter acts as a primer on behavioural economics and ageing: it introduces the basic concepts studied in behavioural economics, including the anomalies and departures from the rational choice framework, along with a discussion of the main empirical findings.

3 citations