scispace - formally typeset
Search or ask a question
Book

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
More filters
Posted Content
TL;DR: In this paper, the effect of financial literacy on willingness to pay for micro-insurance among informal commercial market business operators in Ghana was investigated and the results indicated that financial literacy increases the amount willing to pay.
Abstract: This study investigated the effect of financial literacy on willingness to pay for micro-insurance among informal commercial market business operators in Ghana. Heckman’s Two-Step Estimation Technique is used to examine data on 612 informal commercial market business operators from selected major urban market centres in Ghana. The results indicate that financial literacy increases the amount willing to pay for micro-insurance. Other determinants of willingness to pay for micro-insurance include marital status, dependents, savings, trust, premium payment mode and income. The study recommends that microfinance institutions should strengthen financial education to increase the uptake of micro-insurance.

1 citations


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

  • ...In furtherance to this argument, the economic theory of compensating valuation subscribed to by Varian (2009), view willingness to pay as the measure of the amount that must be taken away from a person’s income while keeping his utility constant....

    [...]

Journal ArticleDOI
01 Sep 2021
TL;DR: In this article, the authors investigated the drivers and constraints of the joint product gross margins by using multivariate multiple regression and showed that failure to account for the minor product would underestimate the gross margin.
Abstract: Gross margin, as a measure of profitability has been associated with an enterprise and for a single product. The determinants of the gross margin have also been investigated using multiple regression. Whilst attempts have been made to model joint production, this has not been the case for gross margin for joint production. Further, multiple regression analysis is inadequate in modelling the gross margins of joint production. In this paper, we contribute to the literature by estimating gross margin for a joint product, decomposed the gross margin into the respective joint products and investigated the drivers (and constraints) of the joint product gross margins by use of multivariate multiple regression. Using data on smallholder palm fruit processing in Ghana, collected using a pretested questionnaire, we have shown that, attention must not be on the gross margin of the major product alone, in a joint production environment. Gender (being female), number of years of formal education, experience in palm oil processing and credit explained the joint product gross margin. Government, NGOs and other development partners should encourage females to stay longer in the formal school system and enhance credit opportunities to smallholder palm oil processors. The gross margin of the complete set of the joint product must be considered. We showed that failure to account for the minor product would underestimate the gross margin. The outcome is useful for computing profit margins in a joint production environment. Also, it assists the manager in identifying what factors to tweak to increase the profit margin for the joint product.

1 citations

Journal ArticleDOI
TL;DR: In this article, the authors empirically examined the ability of US airlines to pass-through lagged jet fuel prices to scaled operating revenues from an airline driven perspective and found that the extent to which an exogenous increase in fuel prices can be passed on to revenues will deviate according to the competitive situation faced by an airline.

1 citations

Journal ArticleDOI
TL;DR: In this article, the authors propose a new way to analyze traveler behaviors of choice of different transportation services based on the conception of marginal rate of substitution (MRS) and propose a method to calculate MRS with travel demand functions instead of marginal utility which is difficult to obtain.
Abstract: This paper has two goals. One is to offer a new way to analyze traveler behaviors of choice of different transportation services based on the conception of marginal rate of substitution (MRS) and the other is to propose a method to calculate MRS with travel demand functions instead of marginal utility which is difficult to obtain. The MRS can be used to describe how much a traveler is willing to substitute one transportation service for one unit of another service while maintaining his/her originally achieved utility. This methodology applies to all substitution relationships among different trip modes, time periods, etc. An example is given to illustrate the calculation of the MRS between transit and private car services and the impacts of each variable or parameter on MRS are analyzed. The proposed methodology can help analyze travel behaviors of choice of transportation services and evaluate policies for travel demand management.

1 citations