Intermediate microeconomics : A modern approach
Citations
43 citations
Cites background from "Intermediate microeconomics : A mod..."
...The above mentioned efficiency gain which is achieved in competitive markets has a theoretical foundation, the Pareto efficiency, where no player can be better off without hurting any other [ Vari96 ]....
[...]
42 citations
42 citations
Cites background from "Intermediate microeconomics : A mod..."
...Collusion among buyers or among sellers in any market shifts power to them and away from their counterparties, typically in the form of pricing (Varian, 1993)....
[...]
...…freedom of choice, yet choice is constrained with the existence of norms against lateral hiring (Knight, 1997; Hayek, 1978; Kirzner 1994). collusion among buyers or among sellers in any market shifts power to them and away from their counterparties, typically in the form of pricing (Varian, 1993)....
[...]
42 citations
Cites background from "Intermediate microeconomics : A mod..."
...It may have one, two or n number of inputs and it may have constant returns to scale or variable returns to scale (see Varian, 2003)....
[...]
42 citations
Cites background from "Intermediate microeconomics : A mod..."
..., houses) is thought to be a more appropriate measure of the value of such goods (Varian, 1996)....
[...]
...An alternative measure of value that can also be derived from demand functions is the consumer surplus or total quantity demanded over a range of cost (Varian, 1996), which is calculated as the area under the demand curve (Houston, 1997; Kirkden, 1999; Ng, 1990)....
[...]
...…curves are not suitable for assessing the value of discrete, nondivisible resources, such as nest boxes or social contact, and in human economics, the price paid by each consumer for such resources (e.g., houses) is thought to be a more appropriate measure of the value of such goods (Varian, 1996)....
[...]