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.
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TL;DR: In the early 1990s, this article pointed out that two intellectual traditions were the most influential in the American field of labor economics: institutional economics and its close offshoot industrial relations, and the tradition of neoclassical economics (NE).
Abstract: In the twentieth century two intellectual traditions were the most influential in the American field of labor economics. The first was the tradition of institutional economics (IE) and its close offshoot industrial relations (IR), the second was the tradition of neoclassical economics (NE). This cleavage is refracted into the modern field of labor law where on one side is an IEIR-oriented traditional approach to labor law (e.g., Deakin and Wilkinson 2005; Estlund 2006; Arthurs 2007) and, on the other, a largely NE-inspired law and economics (LE Posner 2007; Medema 2010).
26 citations
Cites background from "Intermediate microeconomics : A mod..."
...…that any such model must preserve in order to remain “competitive” is prices (including wage rates) are parametric (a “given”) and therefore individual firms and workers are price-takers and have no ability to set an alternative price and still find willing buyers and sellers (Varian 2010: 603)....
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TL;DR: In this paper, an endogenous economic growth model that includes environmental regulation is presented, which can be used to promote directed technical change and economic growth simultaneously, and it can be seen as an example of how environmental regulation can also be used in the context of economic growth.
Abstract: Can environmental regulation be used to promote directed technical change and economic growth simultaneously? We construct an endogenous economic growth model that includes environmental regulation...
26 citations
Cites background from "Intermediate microeconomics : A mod..."
...This is caused by the “positive externalities” of environmental protection, and it will have a positive effect on an unrelated third party (Varian 2010)....
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...This is caused by the “positive externalities” of environmental protection, and it will have a positive effect on an unrelated third party (Varian 2010)....
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...In contrast, the positive externalities of environmental protection will have a positive effect on an unrelated third party (Varian 2010)....
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TL;DR: In this article, the authors examined the competitive implications of a firm's ability to change over its facility for the manufacture of successive generations of high-volume products with short life cycles.
Abstract: We examine the competitive implications of a firm's ability to change over its facility for the manufacture of successive generations of high-volume products with short life cycles. This ability is known as changeover flexibility. The model introduced extends the existing literature in several directions. First, the model offers explicit treatment of the critical relationships between market entry time, changeover flexibility, product life cycles, and profit. Second, the model explicitly considers the effect of early market entry on the accumulation of manufacturing experience (learning), which reduces the unit production cost. Third, the product's optimal selling price is determined and its relation to the firm's changeover flexibility is examined. Last, facility flexibility is permitted to vary over a continuum. Therefore, we are able to capture decision making concerning the optimal degree of changeover flexibility. Both analytic and numerical results are reported, demonstrating the link between the operations and marketing domains in the context of a firm's optimal entrance and exit strategies. Among the key findings are (1) a firm more capable of reducing operating costs through learning over short life cycles optimally invests in more changeover flexibility, charges higher prices, and obtains greater profit; and (2) as the cost of flexible technologies decrease, a firm optimally increases its investment in changeover flexibility, enters markets earlier, and charges higher average prices over the product's life cycle.
26 citations
TL;DR: A novel downlink packet scheduling scheme for QoS provisioning in BWASs is proposed that can support multiple QoS classes with users having different QoS and traffic demands and can be used to support three different types of traffic.
Abstract: The success of emerging Broadband Wireless Access Systems (BWASs) will depend, among other factors, on their ability to manage their shared wireless resources in the most efficient way. This is a complex task due to the heterogeneous nature, and hence, diverse Quality of Service (QoS) requirements of different applications that these systems support. Therefore, QoS provisioning is crucial for the success of such wireless access systems. In this paper, we propose a novel downlink packet scheduling scheme for QoS provisioning in BWASs. The proposed scheme employs practical economic models through the use of novel utility and opportunity cost functions to simultaneously satisfy the diverse QoS requirements of mobile users and maximize the revenues of network operators. Unlike existing schemes, the proposed scheme is general and can support multiple QoS classes with users having different QoS and traffic demands. To demonstrate its generality, we show how the utility function can be used to support three different types of traffic, namely best-effort traffic, traffic with minimum data rate requirements, and traffic with maximum packet delay requirements. Extensive performance analysis is carried out to show the effectiveness and strengths of the proposed packet scheduling scheme.
26 citations
Cites background from "Intermediate microeconomics : A mod..."
...…z¼1!fX z;max ij ðtÞg mij z¼1 UijðfXzijðtÞg mij z¼1Þ ¼ Umax; the higher the network resources the user receives, the higher the user’s utility up to a certain maximum value Umax, then the utility stays at that level reflecting that any additional allocated network resources will not increase the…...
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...The network operator could, for example, set a predefined value for H, say #, and use it only when H OCn ðtÞ is satisfied as follows: H ¼ OCn ðtÞ; if # OCn ðtÞ; #; otherwise: ð5Þ...
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06 Jul 2004
TL;DR: A group buying marketplace on the Internet that can provide a service that buyers are integrated based on buyers' multi-attribute preferences (utilities) and buyers can purchase goods at a lower price.
Abstract: In electronic marketplaces, group buyings are seen as an effective form of electronic commerce and a promising field for applying agent technologies. We study decision support systems for buyers in group buying. In group buying, when buyers cooperate with each other, a seller can discount the price of a good. In many existing group buying sites, some sellers deal in the same sort goods or their imitations. Buyers form coalitions for each item on sale. Buyers cannot always purchase goods at a lower price, because buyers' sub-groups are distributed. Buyers need to search hard to find the goods they can purchase. In this paper, we propose a group buying marketplace on the Internet. In our marketplace, buyers can purchase goods at a lower price by forming coalitions. Our system can provide a service that buyers are integrated based on buyers' multi-attribute preferences (utilities). Our system supports buyers' decision making by using the analytic hierarchy process. We propose three methods for group integration. First, buyers trades on simple group buying. Second, all buyers are integrated. Third, some buyers are integrated. Advantages of our market can be described that buyers' multi-attribute utilities are reflected effectively in group integration and buyers can purchase goods at a lower price. Buyers' payments are decided based on their degree of compromise. A successful seller can sell goods in their stock.
26 citations
Cites background from "Intermediate microeconomics : A mod..."
...The reservation price is the highest price a buyer can pay [18]....
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