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Individual Decision-Making | |
Introduction to Part I | |
Preference and Choice | |
Introduction | |
Preference Relations | |
Choice Rules | |
The Relationship between Preference Relations and Choice Rules | |
Exercises | |
Consumer Choice | |
Introduction | |
Commodities | |
The Consumption Set | |
Competitive Budgets | |
Demand Functions and Comparartive Statics | |
The Weak Axiom of Revealed Preference and the Law of Demand | |
Exercises | |
Classical Demand Theory | |
Introduction | |
Preference Relations: Basic Properties | |
Preference and Utility | |
The Utility Maximization Problem | |
The Expenditure Minimization Problem | |
Duality: A Mathematical Introduction | |
Relationships between Demand, Indirect Utility, and Expenditure Functions | |
Integrability | |
Welfare Evaluation of Economic Changes | |
The Strong Axiom of Revealed Preference | |
Appendix: Continuity and Differentiability Properties of Walrasian Demand | |
Exercises | |
Aggregate Demand | |
Introduction | |
Aggregate Demand and Aggregate Wealth | |
Aggregate Demand and the Weak Axiom | |
Aggregate Demand and the Existence of a Representative Consumer | |
Appendix: Regularizing Effects of Aggregation | |
Exercises | |
Production | |
Introduction | |
Production Sets | |
Profit Maximization and Cost Minimization | |
The Geometry of Cost and Supply in the Single Output Case | |
Aggregation | |
Efficient Production | |
Remarks on the Objectives of the Firm | |
Appendix: The Linear Activity Model | |
Exercises | |
Choice under Uncertainty | |
Introduction | |
Expected Utility Theory | |
Money Lotteries and Risk Aversion | |
Comparison of Payoff Distributions in Terms of Return and Risk | |
State Dependent Utility | |
Subjective Probability Theory | |
Exercises | |
Game Theory | |
Introduction to Part II | |
Basic Elements of Non-Cooperative Games | |
Introduction | |
What is a Game? | |
The Extensive Form Representation of a Game | |
Strategies and the Normal Form Representation of a Game | |
Randomized Choices | |
Exercises | |
Simultaneous-Move Games | |
Introduction | |
Dominant and Dominated Strategies | |
Rationalizable Strategies | |
Nash Equilibrium | |
Games of Incomplete Information: Bayesian Nash Equilibrium | |
The Possibility of Mistakes: Trembling-Hand Perfection | |
Appendix: Existence of Nash Equilibrium | |
Exercises | |
Dynamic Games | |
Introduction | |
Sequential Rationality, Backwards Induction, and Subgame Perfection | |
Sequential Rationality and Out-of-Equilibrium Beliefs | |
Reasonable Beliefs, Forward Induction, and Normal Form Refinements | |
Finite and Infinite Horizon Bilateral Bargaining | |
Extensive Form Trembling-Hand Perfection | |
Exercises | |
Market Equilibrium And Market Failure | |
Introduction to Part III | |
Competitive Markets | |
Introduction | |
Pareto Optimality and Competitive Equilibria | |
Partial Equilibrium Competitive Analysis | |
The Fundamental Welfare Theorems in a Partial Equilibrium Context | |
Welfare Analysis in the Partial Equilibrium Model | |
Free-Entry and Long-Run Competitive Equilibria | |
Concluding Remarks on Partial Equilibrium Analysis | |
Exercises | |
Externalities and Public Goods | |
Introduction | |
A Simple Bilateral Externality | |
Public Goods | |
Multilateral Externalities | |
Private Information and Second-Best Solutions | |
Appendix: Non-Convexities and the Theory of Externalities | |
Exercises | |
Market Power | |
Introduction | |
Monopoly Pricing | |
Static Models of Oligopoly | |
Repeated Interaction | |
Entry | |
The Competitive Limit | |
Strategic Precommitments to Affect Future Competition | |
Infinitely Repeated Games and the Folk Theorem | |
Strategic Entry Deterrence and Accommodation | |
Exercises | |
Adverse Selection, Signalling, and Screening | |
Introduction | |
Informational Asymmetries and Adverse Selection | |
Signalling | |
Screening | |
Appendix: Reasonable-Beliefs Refinements in Signalling Games | |
Exercises | |
The Principal-Agent Problem | |
Introduction | |
Hidden Actions (Moral Hazard) | |
Hidden Information (and Monopolistic Screening) | |
Hidden Actions and Hidden Information: Hybrid Models | |
Multiple Effort Levels in the Hidden Action Model | |
A Formal Solution of the Principal-Agent Problem with Hidden Information | |
Exercises | |
General Equilibrium | |
Introduction to Part IV | |
General Equilibrium Theory: Some Examples | |
Introduction | |
Pure Exchange: The Edgeworth Box | |
The One Consumer-One Producer Economy | |
The 2x2 Production Model | |
General versus Partial Equilibrium Theory | |
Exercises | |
Equilibrium and Its Basic Welfare Properties | |
Introduction | |
The Basic Model and Definitions | |
The First Fundamental Theorem of Welfare Economics | |
The Second Fundamental Theorem of Welfare Economics | |
Pareto Optimality and Social Welfare Optima | |
First-Order Conditions for Pareto Optimality | |
Some Applications | |
Appendix: Technical Properties of the Set of Feasible Allocations | |
Exercises | |
The Positive Theory of Equilibrium | |
Introduction | |
Equilibrium: Definitions and Basic Equations | |
Existence of Walrasian Equilibrium | |
Local Uniqueness and the Index Theorem | |
Anything Goes: The Sonnenschein-Mantel-Debreu Theorem | |
Uniqueness of Equilibria | |
Comparative Statics Analysis | |
Tatonnement Stability | |
Large Economies and Non-Convexities | |
Characterizing Equilibrium through Welfare Equations | |
A General Approach to the Existence of Walrasian Equilibrium | |
Exercises | |
Some Foundations for Competitive Equilibria | |
Introduction | |
Core and Equilibria | |
Non-Cooperative Foundations of Walrasian Equilibria | |
The Limits to Redistribution | |
Equilibrium and the Marginal Productivity Principle | |
Appendix: Cooperative Game Theory | |
Exercises | |
General Equilibrium under Uncertainty | |
Introduction | |
A Market Economy with Contingent Commodities: Description | |
Arrow-Debreu Equilibrium | |
Sequential Trade | |
Asset Markets | |
Incomplete Markets | |
Firm Behavior in General Equilibrium Models under Uncertainty | |
Imperfect Information | |
Exercises | |
Equilibrium and Time | |
Introduction | |
Intertemporal Utility | |
Intertemporal Production and Efficiency | |
Equilibrium: The One-Consumer Case | |
Stationary Programs, Interest Rates, and Golden Rules | |
Dynamics | |
Equilibrium: Several Consumers | |
Overlapping Generations | |
Remarks on Non-Equilibrium Dynamics: Tatonnement and Learning | |
Exercises | |
Welfare Economics And Incentives | |
Introduction to Part V | |
Social Choice Theory | |
Introduction | |
A Special Case: Social Preferences over Two Alternatives | |
The General Case: Arrow's Impossibility Theorem | |
Some Possibility Results: Restricted Domains | |
Social Choice Functions | |
Exercises | |
Elements of Welfare Economics and Axiomatic Bargaining | |
Introduction | |
Utility Possibility Sets | |
Social Welfare Functions and Social Optima | |
Invariance Properties of Social Welfare Functions | |
The Axiomatic Bargaining Approach | |
Coalitional Bargaining: The Shapley Value | |
Exercises | |
Incentives and Mechanism Design | |
Introduction | |
The Mechanism Design Problem | |
Dominant Strategy Implementation | |
Bayesian Implementation | |
Participation Constraints | |
Optimal Bayesian Mechanisms | |
Implementation and Multiple Equilibria | |
Implementation in Environments with Complete Information | |
Exercises | |
Mathematical Appendix | |
Introduction | |
Homogeneous Functions and Euler's Formula | |
Concave and Quasiconcave Functions | |
Matrices: Negative (Semi)Definiteness and Other Properties | |
The Implicit Function Theorem | |
Continuous Functions and Compact Sets | |
Convex Sets and Separating Hyperplanes | |
Correspondences | |
Fixed Point Theorems | |
Unconstrained Maximization | |
Constrained Maximization | |
The Envelope Theorem | |
Linear Programming | |
Dynamic Programming | |
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The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.