Managerial economics

About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.

Study on the Position and Application of Mathematics in the Teaching of Economics

Abstract: The application of mathematics in economics has already become an indisputable fact. However, the abuse of mathematics in economics is also a controversial question. In this paper, we analyze the difference and connection between mathematics and economics, and point out that the economics research should also be based on the economic reality and economic theory. Mathematics is only a kind of tool or means which can describe the theory. And we can't use other things to substitute for it. And based on it, we discuss how to deal with the mathematics content involved in different teaching contents in economics teaching. In recent years the development of economics and mathematical relationship has already presented the distorted phenomenon. The economics has presented an tendency of excessive mathematization. On the one hand, more and more difficult mathematical formulas, symbols and derivations have appeared in the theoretical study. On the other hand, "in the economics classroom we can finish teaching a lesson only by making the blackboard be covered with figures and charts without the observation and discovery of anything happened in the real world"①. Therefore, if we want to jump out of this kind of "vicious cycle" and improve the quality and effect of economics teaching, we must clear the role and status of mathematics in economics teaching. The Learning of the Disciplinary Differences between Economics and Mathematics When we think about the human behavior with economics, we tend to relay on a kind of introspective thinking process more. Starting from their inner feelings, we are based on the understanding of logical sense and speculate the object which we want to study. While according to the general definition we think that mathematics is a science which studies the space form and quantity relationship in the real world. It is produced by the objective world, but it is higher than the objective world by the abstraction and reasoning. The mathematics and economics both take the study of the objective world as their own duties. Even some research ways are also similar. Then what factors construct the disciplinary boundary between them?

Does a switch of budget regimes constrain managerial discretion? : evidence for Italian public enterprises' investment

Abstract: This study examines the effect of the hardening of the budget constraint on the investment behaviour of Italian state owned enterprises (SOEs). It carries out a natural experiment that exploits the 1987 shift of budget regimes due to the pressure of Europ

Economic Mix from the Convergence and Divergence among Capitalism Economics System, Institutionalism Economics Concept and Cooperatives Economics Doctrine

Abstract: Sustainable economic development (SED) can be achieved by blending the advantages and get rid the disadvantages among capitalism economics system, institutionalism economics concept and cooperatives economics doctrine in to one economic mix. 45 economics academicians were invited to fill up the questionnaire. Respondents had agreed that to gain the SED, economic policy maker has to converge the "economics efficiency" from capitalism economics system, "economics responsibility" from institutionalism economics concepts and "economics distribution" from cooperatives economics doctrine into one economic mix. Index Terms - Economic mix, capitalism economics, institutionalism economics, cooperatives economics, convergence, divergence, full Keynesian macroeconomic model

Lecture Note 2 Relational Contracts 1

Abstract: Game theory is rampant in economics. Having long ago invaded industrial organization (the sub-field of economics that studies firms and their product markets), game-theoretic modeling is now commonplace in international, labor, macro, and financial economics, and is gathering steam even in development economics and economic history. Nor is economics alone: accounting, law, marketing, political science, and even sociology are beginning similar experiences. Why is this? Broadly speaking, two views are possible: fads and fundamentals. While I believe that fads are partly to blame for the current enthusiasm for game theory, I also believe that fundamentals are an important part of the story. Simply put, many economists use game theory because it allows them to study the implications of rationality, self-interest, and equilibrium when the theory of perfect competition does not apply—such as where markets are imperfectly competitive, or where markets are only peripherally relevant (such as in the relationship between a regulator and a firm or a boss and a worker). By my armchair citation count, repeated games have been applied more broadly than any other game-theoretic model—not only in economics but also in other social sciences and management fields. I believe this is because repeated games capture the following fact of life: when people interact over time, threats and promises concerning future behavior may influence current behavior. I do not mean to imply that this logic is surprising or rare. To the contrary, I think it is simple and ubiquitous. In this note I present the simplest possible formalization of this logic. I first describe a one-shot interaction between two parties (which works out badly) and then analyze an ongoing relationship in which such interactions occur repeatedly (and work out well because of the parties’ concerns for their reputations). The ongoingrelationship model shows how repeated games allow economists to analyze some aspects

A closer look into first-mover advantages and network externalities: Will LePhone win the battle against iPhone in China?

Abstract: The leading companies in the Chinese mobile smartphone market — the market LePhone is targeted at — are Apple, Motorola, Nokia and Samsung. LePhone is a flagship product of Lenovo. Employing a low price strategy, is it able to meet its objective of beating iPhone in the Chinese mobile phone market? This work aims to answer the question from a managerial economics perspective with the use of a Game Theory model.