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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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Book ChapterDOI
01 Jan 2012
TL;DR: The economic problem and rationale of tourism firms, tourists, and destinations are affected by the evolution of a complex system of phenomena that in the common language can be defined as Internet Revolution, New Economy, Information Technology (IT), Information and Communication Technology (ICT), etc as discussed by the authors.
Abstract: As every other aspect of everyday life and socioeconomic relationships, also tourism is crossed, and sometimes deeply affected, by the evolution of a complex system of phenomena that in the common language can be defined as Internet Revolution, New Economy, Information Technology (IT), Information and Communication Technology (ICT), etc. Without entering in specific topics pertaining to the Economics of Information or to the Science & Technology debate, in this chapter we will simply try to understand if and how the economic problem and rationale of tourism firms, tourists, and destinations are affected by what certainly is a momentous change in the organization of our society:

2 citations

Journal ArticleDOI
TL;DR: A global budget is not a panacea, and consequently the enhancement of health system's performance, appropriateness assessment, and volume and capacity control measures are incumbent.
Abstract: Background: Soaring health expenditures worldwide call for potent cost-containment approaches. Global budgets have been used by several countries to harness their health expenditures by constraining the total payable amount to a predefined budget threshold. Objectives: Cyprus is vacillating on the use of a global budget for its National Health System; nevertheless, its attributes must be scrutinized to rule out potential adverse effects on quality of care and access of patients. The delegation of budget across providers is a context-sensitive process and as such it must be based on historical data and performance incentives as well. Conclusions: A global budget is not a panacea, and consequently the enhancement of health system's performance, appropriateness assessment, and volume and capacity control measures are incumbent. A global budget demonstrates a higher complexity factor for pharmaceuticals, which mandates a thorough assessment of pharmaceuticals before their reimbursement and elaboration of measures to safeguard timely access to innovation.

2 citations


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

  • ...This comprises a type of Cournot competition and, consequently, providers try to increase their supply, a situation that leads to a marginal impact on overall price levels [10,11]....

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Dissertation
10 Oct 2016
TL;DR: In fulfilment of the requirements for the degree of Doctor of Philosophy, the authors submitted a thesis submitted to the Faculty of Commerce, Law & Management, University of the Witwatersrand, South Africa.
Abstract: A thesis submitted to Faculty of Commerce, Law & Management The University of the Witwatersrand In fulfilment of the requirements for the degree of Doctor of Philosophy September 2015

2 citations

Journal ArticleDOI
TL;DR: This paper shows the effects of traders evaluation based computational mechanism design in electronic commerce and proposes a new user evaluation methods based on multi-criteria based rating system that will help buyers/sellers decision making to trade.
Abstract: This paper shows the effects of traders evaluation based computational mechanism design in electronic commerce. The proposes a new user evaluation methods based on multi-criteria based rating system. In the existing trading systems, most of them have user evaluation to help buyers/sellers decision making to trade. However, a user can never know where the potential trading partners did trade successfully based on his/her evaluation criteria. And also, some traders show the information, which are advantage on their trade on the ecommerce website. In some cases, sellers lose a chance to sell the item because of lack of their and their items information. Contrary, buyers sometimes cannot make a decision to choose trading partner because of poor webpage structure even though the seller is truthful trader. To solve these problems, we propose a new evaluation system based on multi-criteria evaluation and sellers trading history. We show 6 experiment results using our proposed mechanism the rest of paper.

2 citations


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

  • ...ISSN: 1738-9968 IJHIT Copyright ⓒ 2014 SERSC This paper shows the effects of traders evaluation based computational mechanism design in electronic commerce....

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Journal Article
TL;DR: The authors investigate the Nash equilibrium payoff in the 2×2 simulation-based game where the two strategic payoff are Normal distribution and the equilibrium payoffs are realized after the decision-making, and show that there is no linear relationship between the means and standard deviations of the equilibriumpayoffs.
Abstract: The authors investigate the Nash equilibrium payoff in the 2×2 simulation-based game where the two strategic payoffs are Normal distribution and the equilibrium payoffs are realized after the decision-making. The researchers show that the risk premiums are a part of the means of equilibrium payoffs due to the compensation of the risky strategies. The authors also show that the equilibrium payoffs are not necessary to be the same as normal distribution where it’s assumed the dominant strategic payoff, but will become normal distribution only when the distance between the means of two strategic payoffs is large enough. This is revealed by the skewed and kurtosis coefficients, which approach to 0 and 3 respectively, even though they are negatively related with the average of the equilibrium payoffs. The most important result is that there is no linear relationship between the means and standard deviations of the equilibrium payoffs, but the mean of the equilibrium payoffs is a concave function with respect of the standard deviation of the equilibrium payoffs.

2 citations


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

  • ...Figure 3 is in contrast with Varian (2009), who shows that the risky assets have linear relationship between the expected return and the risk....

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  • ...…probability or distribution on strategies and payoffs to represent uncertainty in game theory, unfortunately, distribution assumption is used as supplement for showing uncertainty without considering the relationship between means and variances (Varian, 2009), even without the higher-order moments....

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