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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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TL;DR: A wide array of such tests have been employed, each with its own strengths and weaknesses as discussed by the authors, and a wide range of methods have been designed to address the research questions, including whether an animal is motivated to obtain or avoid a resource, whether it has a preference amongst alternative resources (i.e., whether it is more motivated for one than the other), and how strong its motivation or preference is and whether its preference, or the strength of its motivation, is altered by changes in its internal or external environment.
252 citations
TL;DR: The authors argues that the IASB's introduction of fair value accounting reflects and reinforces changed relations of production in which the financial sector increasingly dominates the productive sector, nationally institutionalized economic systems are undermined, and new forms of economic appropriation are validated.
Abstract: On 1 January 2005, all stock exchange listed companies in the European Union (EU) began using International Financial Reporting Standards (IFRS) written by the International Accounting Standards Board (IASB). This article argues that the IASB's introduction of fair value accounting reflects and reinforces changed relations of production in which the financial sector increasingly dominates the productive sector, nationally institutionalized economic systems are undermined, and new forms of economic appropriation are validated. As a private body, the IASB has been able to rapidly introduce the fair value paradigm with little public debate outside specialized financial circles. In contrast to more functionalist views, this article argues that accounting standards are inherently political. Accounting numbers provide some of the key economic anchors around which social relations are structured. Accounting techniques cannot be reduced to questions of efficiency since they set out to quantify and compar...
247 citations
Cites background from "Intermediate microeconomics : A mod..."
...To quantify capital, both accounting (for example Berry, 1999 : 333) and economics (for example Varian, 1996 : 192) use money as the unit of measurement....
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...To quantify capital, both accounting (for example Berry, 1999: 333) and economics (for example Varian, 1996: 192) use money as the unit of measurement....
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TL;DR: In this article, the authors outline the microeconomics of end-use energy saving as a result of frugality or efficiency measures and identify the effects of parameters that determine energy saving behavior with the use of the microeconomic theory.
240 citations
Cites background from "Intermediate microeconomics : A mod..."
...It can be measured in ‘utils’ originating from cardinal utility in quantifiable terms (Varian, 2003)....
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TL;DR: Using functional magnetic resonance imaging, neural responses to waiting for a cutaneous electric shock correlated with individual behavior in a subsequent choice paradigm, providing evidence for a neurobiological link between the experienced disutility of dread and subsequent decisions about unpleasant outcomes.
Abstract: Given the choice of waiting for an adverse outcome or getting it over with quickly, many people choose the latter. Theoretical models of decision-making have assumed that this occurs because there is a cost to waiting—i.e., dread. Using functional magnetic resonance imaging, we measured the neural responses to waiting for a cutaneous electric shock. Some individuals dreaded the outcome so much that, when given a choice, they preferred to receive more voltage rather than wait. Even when no decision was required, these extreme dreaders were distinguishable from those who dreaded mildly by the rate of increase of neural activity in the posterior elements of the cortical pain matrix. This suggests that dread derives, in part, from the attention devoted to the expected physical response and not simply from fear or anxiety. Although these differences were observed during a passive waiting procedure, they correlated with individual behavior in a subsequent choice paradigm, providing evidence for a neurobiological link between the experienced disutility of dread and subsequent decisions about unpleasant outcomes.
237 citations
Cites background from "Intermediate microeconomics : A mod..."
...A useful metric for characterizing this relationship is the marginal rate of substitution (MRS) of voltage for delay (13)....
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TL;DR: Mink may thrive in captivity but they miss having water to romp about in, so why not keep them in the wild?
Abstract: Captive animals may suffer if strongly motivated to perform activities that their housing does not allow. We investigated this experimentally for caged mink, and found that they would pay high costs to perform a range of natural behaviours, and release cortisol if their most preferred activity, swimming, was prevented.
Investigates the effect of limitations on caged mink. Popularity of fur farming; Research into the possible deprivation of mink, which result in their frustration; Details of the experiment; Impact of an access to water; Results which indicate that fur-farmed mink are still motivated to perform the same activities as their wild counterparts
237 citations