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Microeconomic theory : basic principles and extensions
Walter Nicholson, Christopher Snyder.
 Mason, Ohio : SouthWestern/Cengage Learning, ©2012.
 11th ed.
 xxi, 758 pages : illustrations; 26 cm.

Washington LRC ReservesAvailable
 Subjects
 Contents

 pt. ONE Introduction
 ch. 1 Economic Models
 Theoretical Models
 Verification of Economic Models
 General Features of Economic Models
 Development of the Economic Theory of Value
 Modern Developments
 Summary
 Suggestions for Further Reading
 ch. 2 Mathematics for Microeconomics
 Maximization of a Function of One Variable
 Functions of Several Variables
 Maximization of Functions of Several Variables
 Envelope Theorem
 Constrained Maximization
 Envelope Theorem in Constrained Maximization Problems
 Inequality Constraints
 SecondOrder Conditions and Curvature
 Homogeneous Functions
 Integration
 Dynamic Optimization
 Mathematical Statistics
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: SecondOrder Conditions and Matrix Algebra
 pt. TWO Choice and Demand
 ch. 3 Preferences and Utility
 Axioms of Rational Choice
 Utility
 Trades and Substitution
 Mathematics of Indifference Curves
 Utility Functions for Specific Preferences
 ManyGood Case
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Special Preferences
 ch. 4 Utility Maximization and Choice
 Initial Survey
 TwoGood Case: A Graphical Analysis
 nGood Case
 Indirect Utility Function
 Lump Sum Principle
 Expenditure Minimization
 Properties of Expenditure Functions
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Budget Shares
 ch. 5 Income and Substitution Effects
 Demand Functions
 Changes in Income
 Changes in a Good's Price
 Individual's Demand Curve
 Compensated (Hicksian) Demand Curves and Functions
 Mathematical Development of Response to Price Changes
 Demand Elasticities
 Consumer Surplus
 Revealed Preference and the Substitution Effect
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Demand Concepts and the Evaluation of Price Indices
 ch. 6 Demand Relationships among Goods
 TwoGood Case
 Substitutes and Complements
 Net (Hicksian) Substitutes and Complements
 Substitutability with Many Goods
 Composite Commodities
 Home Production, Attributes of Goods, and Implicit Prices
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Simplifying Demand and TwoStage Budgeting
 pt. THREE Uncertainty and Strategy
 ch. 7 Uncertainty
 Mathematical Statistics
 Fair Gambles and the Expected Utility Hypothesis
 Expected Utility
 von NeumannMorgenstern Theorem
 Risk Aversion
 Measuring Risk Aversion
 Methods for Reducing Uncertainty and Risk
 Insurance
 Diversification
 Flexibility
 Information
 StatePreference Approach to Choice Under Uncertainty
 Asymmetry of Information
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: The Portfolio Problem
 ch. 8 Game Theory
 Basic Concepts
 Prisoners' Dilemma
 Nash Equilibrium
 Mixed Strategies
 Existence of Equilibrium
 Continuum of Actions
 Sequential Games
 Repeated Games
 Incomplete Information
 Simultaneous Bayesian Games
 Signaling Games
 Experimental Games
 Evolutionary Games and Learning
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Existence of Nash Equilibrium
 pt. FOUR Production and Supply
 ch. 9 Production Functions
 Marginal Productivity
 Isoquant Maps and the Rate of Technical Substitution
 Returns to Scale
 Elasticity of Substitution
 Four Simple Production Functions
 Technical Progress
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: ManyInput Production Functions
 ch. 10 Cost Functions
 Definitions of Costs
 CostMinimizing Input Choices
 Cost Functions
 Cost Functions and Shifts in Cost Curves
 Shephard's Lemma and the Elasticity of Substitution
 ShortRun, LongRun Distinction
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: The Translog Cost Function
 ch. 11 Profit Maximization
 Nature and Behavior of Firms
 Profit Maximization
 Marginal Revenue
 ShortRun Supply by a PriceTaking Firm
 Profit Functions
 Profit Maximization and Input Demand
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Boundaries of the Firm
 pt. FIVE Competitive Markets
 ch. 12 Partial Equilibrium Competitive Model
 Market Demand
 Timing of the Supply Response
 Pricing in the Very Short Run
 ShortRun Price Determination
 Shifts in Supply and Demand Curves: A Graphical Analysis
 Mathematical Model of Market Equilibrium
 LongRun Analysis
 LongRun Equilibrium: Constant Cost Case
 Shape of the LongRun Supply Curve
 LongRun Elasticity of Supply
 Comparative Statics Analysis of LongRun Equilibrium
 Producer Surplus in the Long Run
 Economic Efficiency and Welfare Analysis
 Price Controls and Shortages
 Tax Incidence Analysis
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Demand Aggregation and Estimation
 ch. 13 General Equilibrium and Welfare
 Perfectly Competitive Price System
 Graphical Model of General Equilibrium with Two Goods
 Comparative Statics Analysis
 General Equilibrium Modeling and Factor Prices
 Mathematical Model of Exchange
 Mathematical Model of Production and Exchange
 Computable General Equilibrium Models
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Computable General Equilibrium Models
 pt. SIX Market Power
 ch. 14 Monopoly
 Barriers to Entry
 Profit Maximization and Output Choice
 Monopoly and Resource Allocation
 Monopoly, Product Quality, and Durability
 Price Discrimination
 SecondDegree Price Discrimination through Price Schedules
 Regulation of Monopoly
 Dynamic Views of Monopoly
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Optimal Linear TwoPart Tariffs
 ch. 15 Imperfect Competition
 ShortRun Decisions: Pricing and Output
 Bertrand Model
 Cournot Model
 Capacity Constraints
 Product Differentiation
 Tacit Collusion
 LongerRun Decisions: Investment, Entry, and Exit
 Strategic Entry Deterrence
 Signaling
 How Many Firms Enter?
 Innovation
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Strategic Substitutes and Complements
 pt. SEVEN Pricing in Input Markets
 ch. 16 Labor Markets
 Allocation of Time
 Mathematical Analysis of Labor Supply
 Market Supply Curve for Labor
 Labor Market Equilibrium
 Wage Variation
 Monopsony in the Labor Market
 Labor Unions
 Summary
 Problems
 Suggestions for Further Reading
 ch. 17 Capital and Time
 Capital and the Rate of Return
 Determining the Rate of Return
 Firm's Demand for Capital
 Present Discounted Value Approach to Investment Decisions
 Natural Resource Pricing
 Summary
 Problems
 Suggestions for Further Reading
 APPENDIX: The Mathematics of Compound Interest
 Present Discounted Value
 Continuous Time
 pt. EIGHT Market Failure
 ch. 18 Asymmetric Information
 Complex Contracts as a Response to Asymmetric Information
 PrincipalAgent Model
 Hidden Actions
 OwnerManager Relationship
 Moral Hazard in Insurance
 Hidden Types
 Nonlinear Pricing
 Adverse Selection in Insurance
 Market Signaling
 Auctions
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Nonlinear Pricing with a Continuum of Types
 ch. 19 Externalities and Public Goods
 Defining Externalities
 Externalities and Allocative Inefficiency
 Solutions to the Externality Problem
 Attributes of Public Goods
 Public Goods and Resource Allocation
 Lindahl Pricing of Public Goods
 Voting and Resource Allocation
 Simple Political Model
 Voting Mechanisms
 Summary
 Problems
 Suggestions for Further Reading
 Extensions: Pollution Abatement.
 Other information

 Includes bibliographical references and index.
 ISBN

 9781111525538 (hbk.)
 1111525536 (hbk.)
 Identifying numbers

 LCCN: 2011928483
 OCLC: 741724329
 OCLC: 741724329