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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.
Citations
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Journal ArticleDOI
TL;DR: In this article, the author's version of a work that was accepted for publication in the International Journal of Learning and Intellectual Capital (IJLIC) has been published for the first time.
Abstract: This is the author’s version of a work that was accepted for publication in the International Journal of Learning and Intellectual Capital. A definitive version was subsequently published in International Journal of Learning and Intellectual Capital, 8, 4 (2011) DOI: 10.1504/IJLIC.2011.043063

2 citations

Proceedings ArticleDOI
26 Mar 2012
TL;DR: Using game theory concepts and techniques, the crucial question here is "how often a stakeholder needs to run an inspection and how these inspections affect the expected payoffs of the stakeholders?".
Abstract: Business webs are collections of enterprises designed to jointly satisfy a consumer need. We design business webs using value models that show the participating stakeholders and the value objects which they are going to exchange during a specific period. Each partner agrees to act according to the value model, however during the business, stakeholders need to be sure if their partners are acting according to the value model or not. In some cases, the best way to find out the answer of that question is to run an inspection because the value exchanges are not observable without cost. Now, the crucial question here is "how often a stakeholder needs to run an inspection and how these inspections affect the expected payoffs of the stakeholders?". Here in this paper, using game theory concepts and techniques, we aim at finding out answers for these questions.

2 citations

Journal ArticleDOI
TL;DR: In this article, a detailed production network of an entire country is derived based on a unique value added tax dataset and an approach for computing the economic systemic risk of all individual firms is presented.
Abstract: Crises like COVID-19 or the Japanese earthquake in 2011 exposed the fragility of corporate supply networks. The production of goods and services is a highly interdependent process and can be severely impacted by the default of critical suppliers or customers. While knowing the impact of individual companies on national economies is a prerequisite for efficient risk management, the quantitative assessment of the involved economic systemic risks (ESR) is hitherto practically non-existent, mainly because of a lack of fine-grained data in combination with coherent methods. Based on a unique value added tax dataset we derive the detailed production network of an entire country and present a novel approach for computing the ESR of all individual firms. We demonstrate that a tiny fraction (0.035%) of companies has extraordinarily high systemic risk impacting about 23% of the national economic production should any of them default. Firm size alone cannot explain the ESR of individual companies; their position in the production networks does matter substantially. If companies are ranked according to their economic systemic risk index (ESRI), firms with a rank above a characteristic value have very similar ESRI values, while for the rest the rank distribution of ESRI decays slowly as a power-law; 99.8% of all companies have an impact on less than 1% of the economy. We show that the assessment of ESR is impossible with aggregate data as used in traditional Input-Output Economics. We discuss how simple policies of introducing supply chain redundancies can reduce ESR of some extremely risky companies.

2 citations

Journal ArticleDOI
TL;DR: One of the main measures of success in business is a company's market share, and understanding the cause and effect of various economic factors on market share is very important in the success of a business as discussed by the authors.
Abstract: One of the main measures of success in business is a company’s market share, and understanding the cause and effect of various economic factors on market share is very important in the success of a...

2 citations

Journal ArticleDOI
TL;DR: In this paper, a simple and effective method for improving student comprehension of mixed strategies was presented, and with some trial and error, they feel that this method eases the teaching of the information and increases the students'ability to understand and retain concepts.

2 citations