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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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01 Jan 2019
TL;DR: In this paper, a modified solution to the monopsony profit maximization problem is proposed to specify the conditions under which patrons should invest in one or several labs for a given research project.
Abstract: Large scale scientific projects often require enormous investment on the part of their patrons to develop and maintain new technologies like particle accelerators and grid computing systems. Data suggest that funding for such research is increasingly concentrated into a small number of major grants awarded to just a handful of successful labs. But is this the most efficient market design for promoting discovery? In this chapter, I propose a modified solution to the monopsony profit maximisation problem that specifies the conditions under which patrons should invest in one or several labs for a given research project. I apply the model to two prominent case studies and identify the key indicators that policymakers should consider when deciding how best to fund new scientific research.
1 citations
01 Jan 2014
1 citations
01 Jan 2018
TL;DR: Computable general equilibrium (CGE) as mentioned in this paper is an analysis that attempts to use the general equilibrium theory to empirically analyze resource allocation and the economy as a whole, which has provided important insights into the factors and mechanisms that determine relative prices and the allocation of resources within and among market economies.
Abstract: Computable general equilibrium (CGE) modeling is an analysis that attempts to use the general equilibrium theory to empirically analyze resource allocation and the economy as a whole. The general equilibrium theory is a formalization of the simple but fundamental observation that markets in real-world economies are mutually interdependent (Bergman 2005). This theoretical analysis has provided important insights into the factors and mechanisms that determine relative prices and the allocation of resources within and among market economies.
1 citations
03 Sep 2009
TL;DR: It turns out that there is a crucial tradeoff between sanctioning and rehabilitation of bad behaviour that can be solved by a minimal transaction fee.
Abstract: Reputation systems are subject to several types of manipulations, often in context of fraud. The current literature offers mainly partial solutions for specific manipulations. However, in practice a reputation system should be robust against all relevant threats. This paper explores the combination of several partial solutions in an evolutionary simulation model. The analysis shows that some partial solutions interfere with each other. In particular, it turns out that there is a crucial tradeoff between sanctioning and rehabilitation of bad behaviour that can be solved by a minimal transaction fee.
1 citations