微观经济学

书籍目录

Contents

PART 1 Introduction: Markets and Prices

1 PRELIMINARIES

1.1 The Use and Limitations of Microeconomic Theory

1.2 Positive Versus Normative Analysis

1.3 Why Study Microeconomics?

Corporate Decision Making: Ford Introduces the Taurus

Public Policy Design: Automobile Emission Standards

1.4 What Is a Market?

Competitive Versus Noncompetitive Markets

Market Price

The Extent of a Market

1.5 Real Versus Nominal Prices

2 THE BASICS OF SUPPLY AND DEMAND

2.1 The Market Mechanism

2.2 Shifts in Supply and Demand

2.3 Elasticities of Supply and Demand

2.4 Short-Run Versus Long-Run Elasticities

Demand

Supply

*2.5 Understanding and Predicting the Effects of Changing Market

Conditions

2.6 Effects of Government Intervention--Price Controls

PART 11 Producers, Consumers, and Competitive Markets

3 CONSCIMER BEHAVIOR

3.1 Consumer Preferences

Some Basic Assumptions

Indifference Curves

Ordinal Versus Cardinal Rankings

The Marginal Rate of Substitution

Perfect Substitutes and Perfect Complements 66

3.2 Budget Constraints

The Budget Line

The Effects of Changcs in Income and Prices 71

3.3 Consumer Choice

A Corner Solution

3.4 Revealed Preference

3.5 The Concept of Utility

Utility and Satisfaction

Marginal Utility

4 INDIVIDUAL AND MARKET DEMAND

4.1 Individual Demand

Price Changes

The Demand Curve

Income Changes

Engel Curves

Substitutes and Complements

4.2 Income and Substitution Effects

Substitution Effect

Income Effect

A Special Case-The Giffen Good

4.3 Market Demand

from Individual to Market Demand

Point and Arc Elasticities of Demand

4.4 Consumer Surplus

4.5 Network Externalities

The Bandwagon Effect

The Snob Effect

*4.6 Empirical Estimation of Demand

Interview and Experimental Approaches to Demand Determination

The Statistical Approach to Denund Estimation

The Form of the Demand Relationship

Appendix to 4 Demand Theory-A Mathematical Treatment

Utility Maximization

The Consumer's Optimum

Marginal Rate of Substitution

An Example

Marginal Utility of Income

Duality in Consumer Theory

Income and Substitution Effects

5 CHOICE CINDER CJNCERTAINTY

5.1 Describing Risk

Probability

Expected Value

Variability

Decision Making

5.2 Preferences Toward Risk

Different Preferences Toward Risk

5.3 Reducing Risk

Diversification

Insurance

The Value of Information 154

*5.4 The Demand for Risky Assets

Assets

Asset Returns

The Trade-off Between Risk and Return

The Investor's Choice Problem

6 PRODUCTION

6.1 The Technology of Production

6.2 Isoquants 168

The Short Run Versus the Long Run

6.3 Production with One Variable Input (Labor;

Average and Marginal Products

The Law of Diminishing Returns

Labor Productivity

6.4 Production with Two Variable Inpurs

Diminishing Returns

Substitution Among Inputs

Production Functions-Two Special Cases

6.5 Returns to Scale

7 THE COST OF PRODCICTION

7.1 Measuring Cost: Which Costs Matter?

Economic Cost Versus Accounting Cost

Sunk Costs

7.2 Cost in the Short Run

The Determinants of Short-Run Cost

The Shapes of the Cost Curves

7.3 Costs in the Long Run

The Cost-Minimizing Input Choice

The Isocost Line

Choosing Inputs

Cost Minimization with Varying Output Levels

7.4 Long-Run Versus Short-Run Cost Curves

The Inflexibility of Short-Run Production

Long-Run Average Cost

Economies and Diseconomies of Scale

The Relationship Between Short-Run and Long-Run Cost

7.5 Production with Two Outputs--Economies of Scope

*7.6 Dynamic Changes in Costs---The Learning Curve

*7.7 Estimating and Predicting Cost

Cost Functions and the Measurement of Scale Economies

Appendix to 7 Production and Cost Theory--A Mathematical

Treatment

Cost Minimization

Marginal Rate of Technical Substitution

Duality in Production and Cost Theory

The Cobb-Douglas Cost and Production Punctions

8 PROFIT MAXIMIZATION AND COMPETITIVE SUPPLY

8.1 Profit Maximization

Do Firms Maximize Profit?

8.2 Marginal Revenue, Marginal Cost, and Profit Maximization

Demand and Marginal Revenue for a Competitive Firm

Profit Maximization by a Competitive Firm

8.3 Choosing Output in the Short Run

Short-Run Profit Maximization by a Competitive Firm

The Short-Run Profitability of a Competitive Firm

8.4 The Competitive Firm's Short-Run Supply Curve

The Firm's Response to an Input Price Change

8.5 The Short-Run Market Supply Curve

Elasticity of Market Supply

Producer Surplus in the Short Run

8.6 Choosing Output in the Long Run

Zero Profit

Long-Run Competitive Equilibrium

Economic Rent

Producer Surplus in the Long Run

8.7 The Industry's Long-Run Supply Curve

Constant-Cost Industry

Increasing-Cost Industry

Decreasing-Cost Industry

The Short-Run and Long-Run Effects of a Tax

Long-Run Elasticity of Supply

8.8 When Is a Market Perfectly Competitive?

Contestable Markets

9 THE ANALYSIS OF COMPETITIVE MARKETS

9.1 Evaluating the Gains and Losses from Government Policies-Consumer

and Producer Surplus

Review of Consumer and Producer Surplus

Application of Consumer and Producer Surplus

9.2 The Efficiency of a Competitive Market

9.3 Minimum Prices

9.4 Price Supports and Production Quotas

Price Supports

Production Quotas

9.5 Import Quotas and Tariffs

9.6 The Impact of a Tax or Subsidy

PART III Market Structure and Competitive Strategy

10 MARKET POWER: MONOPOLY AND MONOPSONY

10.1 Monopoly

Average Revenue and Marginal Revenue

The Monopolist's Output Decision

An Example

A Rule of Thumbfor Pricing

Shifts in Demand

The Effect of a Tax

*The Multiplant Firm

10.2 Monopoly Power

Measuring Monopoly Power

The Rule of Thumb for Pricing

10.3 Sources of Monopoly Power

The Elasticity of Market Demand

The Number of Firms

The Interaction Among Firms

10.4 The Social Costs of Monopoly Power

Price Regulation

Regulation in Practice

10.5 Monopsony

Monopsony and Monopoly Compared

10.6 Monopsony Power

Sources of Monopsony Power

The Social Costs of Monopsony Power

Bilateral Monopoly

10.7 Limiting Market Power: The Antitrust Laws

Enforcement of the Antitrust Laws

11 PRICING WITH MARKET POWER

11.1 Capturing Consumer Surplus

11.2 Price Discrimination

First-Degree Price Discrimination

Second-Degree Price Discrimination

Third-Degree Price Discrimination

11.3 Intertemporal Price Discrimination and Peak-Load Pricing

11.4 The Two-Part Tariff

ll.5 Bundling

Mixed Bundling

Tying

11.6 Advertising

A Rule of Thumb for Advertising

Appendix to ll-Transfer Pricing in the Integrated Firm

Transfer Pricing When There Is No Outside Market

Transfer Pricing with a Competitive Outside Market

Transfer Pricing with a Noncompetitive Outside Market

A Numerical Example

12 MONOPOLISTIC COMPETITION AND OLIGOPOLY

12.1 Monopolistic Competition

The Makings of Monopolistic Competition

Ecquilibrium in the Short Run and the Long Run

Monopolistic Competition and Economic Efficiency

12.2 Oligopoly

Equilibrium in an Oligopolistic Market

The Cournot Model

Example: A Linear Demand Curve

12.3 First Mover Advantage-The Stackelberg Model

12.4 Price Competition

Price Competition with Homogeneous Products-The Bertrand Model

Price Competition with Differentiated Products

12.5 Competition Versus Collusion: The Prisoners' Dilemma

12.6 Implications of the Prisoners' Dilemma for Oligopolistic Pricing

Price Rigidity

Price Signaling and Price Leadership

The Dominant Firm Model

12.7 Cartels

The Analysis of Cartel Pricing

GAME THEORY AND COMPETITIVE STRATEGY

13.1 Gaming and Strategic Decisions

Noncooperative Versus Cooperative Games

13.2 Dominant Strategies

13.3 The Nash Equilibrium Revisited

Maximin Strategies

*Mixcd Strategies

13.4 Repeated Games

13.5 SequentialGames

The Extensive Form of a Game

The Advantage of Moving First

13.6 Threats, Commitments, and Credibility

Empty Threats

Commitment and Credibility

13.7 Entry Deterrence

Strategic Trade Policy and International Competition

13.8 Bargaining Strategy

14 MARKETS FOR FACTOR INPUTS

14.1 Competitive Factor Markets

Demand for a Factor Input When Only One Input Is Variable

Demand for a Factor Input When Several Inputs Are Variable

The Market Demand Curve

The Supply of Inputs to a Firm

The Market Supply of Inputs

14.2 Equilibrium in a Competitive Factor Market

Economic Rent

14.3 Factor Markets with Monopsony Power

Marginal and Average Expenditure

The Input Purchasing Decision of the Firm

14.4 Factor Markets with Monopoly Power

Monopoly Power over the Wage Rate

A Two-Sector Model of Labor Employment

Bilateral Monopoly in the Labor Market

15 INVESTMENT, TIME, AND CAPITAL MARKETS

15.1 Stocks Versus Flows

15.2 Present Discounted Value

Valuing Payment Streams

15.3 The Value of a Bond

Perpetuities

The Effective Yield on a Bond

15.4 The Net Present Value Criterion for Capital Investment Decisions

The Electric Motor Factory

Real Versus Nominal Discount Rates

Negative Future Cash Flows

15.5 Adjustments for Risk

Diversifiable Versus Nondiversifiable Risk

The Capital Asset Pricing Model

15.6 Investment Decisions by Consumers

15.7 Intertemporal Production Decisions-Depletable Resources

The Production Decision of an Individual Resource Producer

The Behauior of Market Price

User Cost

Resource Production by a Monopolist

15.8 How Are Interest Rates Determined?

A Variety of Interest Rates

PART IV Information, Market Failure, and the Role ofGovernment

16 GENERAL EQUILIBRIUM AND ECONOMIC EFFICIENCY

16.1 General Equilibrium Analysis

Two Interdependent Markets-Moving to General Equilibrium

The Attainment of General Equilibrium

16.2 Efficiency in Exchange

The Advantages of Trade

The Edgeworth Box Diagram

Efficient Allocations

The Contract Curve

Consumer Equilibrium in a Competitive Market

16.3 Equity and Efficiency

The Utility Possibilities Frontier

Equity and Perfect Competition

16.4 Efficiency in Production

Production in the Edgeworth Box

Input Efficiency

Producer Equilibrium in a Competitive Input Market

The Production Possibilities Frontier

Output Efficiency

Efficiency in Output Markets

16.5 The Gains from Free Trade

Comparative Advantage

An Expanded Production Possibilities Frontier

16.6 An Overview-The Efficiency of Competitive Markets

16.7 Why Markets Fail

Market Power

Incomplete Information

Externalities

Public Goods

17 MARKETS WITH ASYMMETRIC INFORMATION

17.1 Quality Uncertainty and the Market for "Lemons"

The Market for Used Cars

Implications of Asymmetric Information

Insurdnce

The Market for Credit

The Importance of Reputation and Standardization

17.2 Market Signaling

A Simple Model of Job Market Signaling

- Guarantees and Warranties

17.3 Moral Hazard

17.4 The Principal-Agent Problem

The Principal-Agent Problem in Private Enterprises

The Principal-Agent Problem in Public Enterprises

Incentives in the Principal-Agent Framework

17.5 Managerial Incentives in an Integrated Firm

Asymmetric Information and Incentive Design in the Integrated Firm

Applications 616

17.6 Asymmetric Information in Labor Markets: Efficiency Wage Theory

18 EXTERNALITIES AND PUBLIC QOODS

18.1 Externalities

Negative Externalities and Inefficiency

Positive Externalities and Inefficiency

18.2 Ways of Correcting Market Failure

An Emissions Standard

An Emissions Fee

Standards Versus Fees

Transferable Emissions Permits

Recycling

18.3 Externalities and Property Rights

Property Rights

Bargaining and Economic Efficiency

Costly Bargaining-The Role of Strategic Behavior

A Legal Solution-Suiing for Damages

18.4 Common Property Resources

18.5 PublicGoods

Efficiency and Public Goods

Public Goods and Market Failure

18.6 Private Preferences for Public Goods

APPENDIX THE BASICS OF REGRESSION

An Example

Estimation

Statistical Tests

Goodness of Fit

Economic Forecasting

GLOSSARY

ANSWERS TO SELECTED EXERCISES

INDEX

LIST OF EXAMPLES

1.1 Unemployment and the Labor Force Participation of Women

1.2 The Price of Eggs and the Price of a College Education

2.1 The Price of Eggs and the Price of a College Education

2.2 The Long-Run Behavior of Mineral Prices

2.3 The Market for Wheat

2.4 The Demands for Gasoline and Automobiles

2.5 The Weather in Brazil and the Price of Coffee in New York

2.6 Declining Demand and the Behavior of Copper Prices

2.7 The World Oil Market on the Back of an Envelope

2.8 Price Controls and the Natural Gas Shortage

3.1 Designing New Automobiles

3.2 Designing New Automobiles

3.3 The Decision Making of a Local Public Offidal

3.4 A College Trust Fund

3.5 Revealed Preference for Recreation

3.6 Gasoline Rationing

4.1 Consumer Expenditures in the United States

4.2 The Effects of a Gasoline Tax

4.3 The Aggregate Demand for Wheat

4.4 The Demand for Housing

4.5 The Value of Clean Air

4.6 Network Externalities and the Demands for Computers and FaxMachines

5.1 Business Executives and the Choice of Risk

5.2 Deterring Crime

5.3 The Value of Title Insurance When Buying a Home

5.4 The Value of Information in the Dairy Industry

6.1 Malthus and the Food Crisis

6.2 Will the Standard of Living in the United States Improve?

6.3 A Production Function for Wheat

6.4 Returns to Scale in the Rail Industry

7.1 Choosing the Location for a New Law School Building

7.2 The Opportunity Cost of Waiting in a Gasoline Line

7.3 The Effect of Effluent Fees on Firms Input Choices

7.4 Economies of Scope in the Trucking Industry

7.5 The Learning Curve in the Chemical Processing Industry

7.6 Cost Functions for Electric Power

7.7 A Cost Function for the Savings and Loan Industry

8.1 Some Cost Considerations for Managers

8.2 The Short-Run Production of Petroleum Products

8.3 The Short-Run World Supply of Copper

8.4 The Long-Run Supply of Housing

9.1 Price Controls and the Natural Gas Shortage

9.2 The Market for Human Kidneys

9.3 Airline Regulation

9.4 Supporting the Price of Wheat

9.5 The SugarQuota

9.6 A Tax on Gasoline

10.1 Markup Pricing: Supermarkets to Designer Jeans

10.2 The Pricing of Prerecorded Videocassettes

10.3 Monopsony Power in U.S. Manufacturing

10.4 A Phone Call About Prices

11.1 The Economics of Coupons and Kebates

11.2 How to Set Airline Fares

11.3 How to Price a Best-Selling Novel

11.4 Polaroid Cameras

11.5 The Complete Dinner vs. a la Carte: A Restaurant's Pricing Problem

11.6 Advertising: Supermarkets to Designer Jeans

12.1 Monopolistic Competition in the Markets for Colas and Coffee

12.2 A Pricing Problem for Procter & Gamble

12.3 Procter & Gamble in a Prisoners Dilemma

12.4 Price Leadership and Price Rigidity in Commercial Banking

12.5 The Cartelization of Intercollegiate Athletics

13.1 Acquiring a Company

13.2 Oligopolistic Cooperation in the Water Meter Industry

13.3 Competition and Collusion in the Airline Industry

13.4 Wal-Mart Stores' Investment Strategy

13.5 Du Pont Deters Entry in Titanium Dioxide Industry

13.6 Diaper Wars

14.1 The Demand for Jet Fuel

14.2 Labor Supply for One- and Two-Earner Households

14.3 Pay in the Military

14.4 Monopsony Power in the Market for Baseball Players

14.5 The Decline of Private Sector Unionism

15.1 The Value of Lost Earnings

15.2 The Yields on Corporate Bonds

15.3 Capital Investment in the Disposable Diaper Industry

15.4 Choosing an Air Conditioner

15.5 How Depletable Are Depletable Resources?

16.1 The Interdependence of International Markets

16.2 The Effects of Automobile Import Quotas

16.3 The Costs and Benefits of Special Protection

17.1 Lemons in Major League Baseball

17.2 Reducing Moral Hazard-Warranties of Animal Health

17.3 Crisis in the Savings and Loan Industry

17.4 The'Managers of Nonprofit Hospitals as Agents

17.5 Efficiency Wages at Ford Motor Company

18.1 The Costs and Benefits of Reduced Sulfur Dioxide Emissions

18.2 Emissions Trading and Clean Air

18.3 Regulating Municipal Solid Wastes

18.4 The Coase Theorem at Work

18.5 Crawfish Fishing in Louisiana

18.6 The Demand for Clean.Air

A.l The Demand for Coal

作者简介

内容提要

这是一本被美国许多著名院校广泛采用的微观经济学教材。它的第

一个特点是内容全面。包括了消费者行为与需求理论、生产者行为与

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政府对市场的干预等各方面内容并有详细而精辟的叙述。本书的第二

个特点是内容叙述深入浅出，经济概念十分清晰，读后使人受益匪浅。

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人注目的新发展。不仅使初学者能尽快获得接近前沿知识的基本经济

概念，即使经济学专家读后也会颇有收获。本书第三个特点是理论密

切联系实际。书中穿插了约90个具体例子用于理解各种经济概念如何

应用于社会实践。各章末尾配备习题供练习与思考。

本书适合各大专院校经济管理类专业本科生或研究生用作微观经

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材，也可提高专业英语水平，为进一步科研工作打下良好基础。本书

还可供经济管理类教师及科研人员用作参考书。

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