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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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Journal ArticleDOI
TL;DR: In this article, the influence of students' perceptions of instructional attributes included in the SET instrument and other variables on TEVAL score was investigated. And the authors found that clear presentation and explanation, and well-organized classes were key determinants of TEVAL scores.

23 citations

Journal ArticleDOI
TL;DR: A volume discount mechanism based on the seller's reservation price and the payment adjustment value, which is a strategy-proof mechanism, that is, it has the incentive compatibility and weakens the influence of false name bids.
Abstract: Group buying is seen as an effective form of electronic commerce and a promising field for applying agent technologies. In current volume discount mechanisms, items are not allocated efficiently to buyers. Namely, social surplus is not maximum in existing volume discount schemes. To solve this problem, we propose a volume discount mechanism based on the seller's reservation price and the payment adjustment value. First, a seller registers his/her items with the evaluation value functions. The seller's evaluation value is sealed and each buyer bids his/her evaluation value as sealed bid. After the deadline, the mechanism determines the allocation of bundles of items. A tentative price is decided and the payment adjustment value is calculated. Finally, the payment amount is calculated. Our mechanism has some key advantages. First, the mechanism is Pareto efficient. Second, our mechanism is a strategy-proof mechanism, that is, it has the incentive compatibility. Third, our mechanism provides individual rationality. Fourth, our mechanism is made based on the volume discount system where the seller can give a signal indicating a discount for buyers. Finally, our mechanism weakens the influence of false name bids.

23 citations


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

  • ...The reservation price is the highest price a buyer can pay (Varian 1990)....

    [...]

Journal ArticleDOI
Yong Tao1
TL;DR: This paper formalized Hayek's notion of spontaneous order within the framework of an Arrow-Debreu economy and showed that, if a competitive economy is sufficiently fair and free, a spontaneous economic order will emerge in long-run competitive equilibria so that social members spontaneously occupy an unplanned distribution of income.
Abstract: This paper provides attempts to formalize Hayek’s notion of spontaneous order within the framework of an Arrow-Debreu economy. Our study shows that, if a competitive economy is sufficiently fair and free, a spontaneous economic order will emerge in long-run competitive equilibria so that social members spontaneously occupy an unplanned distribution of income. Despite this, the spontaneous order may degenerate in the form of economic crises whenever an equilibrium economy approaches the extreme competition. Remarkably, such a theoretical framework of spontaneous order provides a bridge linking Austrian economics and neoclassical economics, where a truth begins to emerge: “Freedom promotes technological progress”.

23 citations

Journal ArticleDOI
TL;DR: In this paper, the authors rank the football clubs according to their change in total productivity for the period 1999-2000 to 2002-2003, concluding that some clubs experienced productivity growth while others experienced a decrease in productivity.
Abstract: This paper estimates changes in total productivity, breaking this down into technically efficient change and technological change by means of data envelopment analysis (DEA) applied to a representative sample of football clubs operating in the two small European countries: Portugal and Greece. The aim of this procedure is to seek out those best practices that will lead to improved performance in the market. The authors rank the football clubs according to their change in total productivity for the period 1999-2000 to 2002-2003, concluding that some clubs experienced productivity growth while others experienced a decrease in productivity. The implications arising from the study are considered in terms of managerial policy.

23 citations