Showing papers on "Managerial economics published in 2023"
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TL;DR: This article reviewed the existing literature and its contribution to reaching the goal of bridging the gap between microeconomics and construction and presented an overview on the key concepts discussed in this book.
Abstract: A number of textbooks on construction economics are on the market. These books take a general and introductory approach. It also means that some colleagues have already narrowed the gap. However, a gap remains between microeconomics and construction. This chapter reviews the existing literature and its contribution to reaching the goal. Economic theorising goes back many centuries. Much early thought concerned agriculture. Textbooks on economics cover both micro- and macroeconomics on an introductory level. Civil engineering students endeavor to understand the world of objects. One of the most important fields they encounter is Newtonian mechanics. The theoretical models of microeconomics draw on other fields of studies with their own models. Important to construction microeconomics are: industrial organization, new institutional economics, game theory, auction theory, economics of information, law and economics, and behavioral economics. The chapter also presents an overview on the key concepts discussed in this book.