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Managerial economics
About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.
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01 Oct 1998
TL;DR: In this paper, the authors developed and used the Model of Emerging and Constructed Opportunities (MECO) to analyze the emergence of systematic institutional and gender-based differential advantage.
Abstract: This paper develops and uses the Model of Emerging and Constructed Opportunities (MECO) to analyze the emergence of systematic institutional and gender-based differential advantage. Using an evolutionary process with reference group effects, certain household power relations that are "less fit" are abandoned in favor of household power relations that are "more fit." The model illustrates processes whereby institutional and gender-based differential advantage could emerge: (1) through stochastic processes if different genders experience asymmetric shocks affecting their economic opportunity; (2) as the result of gender-based differences in investment bias; or (3) as the result of gender-based differences in responses to servility. The evolutionary process in the MECO is one where agents within households see themselves as servile if they have less ability to influence the allocation of resources in their household than their peers. When agents deem themselves as servile they shirk and household production is diminished. As such, there are costs and benefits to having power in the household. Both agents in the household may be made better off by abandoning one household power relation in favor of another. In particular, the MECO contributes to the literature by analyzing the emergence of (1) gender-based differences in "exit options" and (2) gender-based differences in terms of ability to influence intra-household allocations.
12 citations
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01 Jun 1993
TL;DR: The Essence of Business Economics: An Overview 2. The Analysis of Consumer Demand 3. The analysis of production costs 4. The Competitive Environment 5. Managerial Objectives of the Firm 6. Understanding Pricing Strategies 7. Investment Appraisal 8. Understanding the Labour Market 9. Government and Business 10. Business and Economic Forecasting 11. Business economics: A Check List for Managers.
Abstract: 1. The Essence of Business Economics: An Overview 2. The Analysis of Consumer Demand 3. The Analysis of Production Costs 4. The Competitive Environment 5. Managerial Objectives of the Firm 6. Understanding Pricing Strategies 7. Investment Appraisal 8. Understanding the Labour Market 9. Government and Business 10. Business and Economic Forecasting 11. Business Economics: A Check List for Managers Appendix: Sources of Business Economics Data for Managers References for Further Reading
12 citations
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12 citations
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TL;DR: The game theory approach is now very widely used throughout the profession and has become a major tool for the construction of new economic models and has led to important developments in finance, labour economics and international trade as mentioned in this paper.
Abstract: During the 1980s, economic theory has been revolutionised by game theory. The game theory approach is now very widely used throughout the profession and has become a major tool for the construction of new economic models. It is the basic tool in the construction of a modern theory of industrial organisation and it has led to important developments in finance, labour economics and international trade.
12 citations