Exercises and Applications for Microeconomic Analysis

by Yohe, Gary W.

• ISBN13: 9780393957372
• ISBN10: 0393957373
• Edition: 3rd
• Format: Paperback
• Copyright: 1993-08-17
• Publisher: W. W. Norton & Company

Summary

Microeconomic Analysis has been a fixture of graduate programs in economics for fifteen years, providing unique authority, clarity, and breadth of coverage. The Third Edition continues to supply the building blocks of microeconomic analysis: a thorough treatment of optimization and equilibrium methods, coupled with numerous examples of their application. The Third Edition expands on the earlier editions in two ways. First, the coverage has been rewritten and rearranged. Second, chapters have been added on game theory, oligopoly, asset markets, and information economics. The new chapters fully update the text, highlighting significant developments of the last decade at a level that is accessible for first-year graduate students.

Table of Contents

Introduction	vi
The Elasticity of Substitution	1	(3)
The Limiting Nature of the Cobb-Douglas Technology	4	(7)
Per Capita Production Functions	11	(13)
The Cost and Timing of Land Development	24	(9)
Constant Elasticity of Substitution Production Functions with Two or More Inputs	33	(14)
Approximation Results for CES Production Functions	47	(8)
Approximating Elasticities of Substitution with the Price Elasticity of Derived Demand	55	(3)
Optimal Commodity Taxes	58	(10)
Selected Applications of the Expenditure Function	68	(9)
Negative Income Taxation and the Labor-Leisure Decision	77	(9)
Separable Utility and Conditional Demand	86	(10)
Random Income Taxation	96	(20)
Risk Aversion with Many Commodities	116	(9)
Risk Aversion and Product Liability	125	(12)
Planning, Bonus Structures, and Truthful Information	137	(9)
Optimal Commodity Taxation from Consumer Surplus	146	(8)
Consumer Surplus with Multiple Goods	154	(10)
Estimating Two Factor, Constant Elasticity of Substitution Production Functions	164	(4)
Estimating Constant Elasticity of Substitution Production Functions with More than Two Factors	168	(7)
Some Properties of the Translog Cost Function	175	(13)
Flexible Functional Representations of Production Technologies and Consumer Preferences	188	(9)
Some Implications of the Independence of Price and Income on the Structure of Demand	197	(8)
On the Structure of Consumer Demand	205	(9)
Monopoly, Uncertainty, and the International Flow of Goods	214	(8)
Excess Capacity as a Barrier to Entry	222	(8)
A Locational Theory of Monopolistic Competition	230	(9)
Product Diversity under Monopolistic Competition	239	(9)
Resource Stock Externalities	248	(8)
The Edgeworth Geometry of General Equilibrium	256	(16)
The Rybczynski and Stolper-Samuelson Theorems	272	(11)
The Optimal Tariff in General Equilibrium	283	(9)
Incidence of the Corporate Profits Tax	292	(12)
Uniqueness of Equilibria with Production	304	(15)
Uncertainty and Tax Incidence in General Equilibrium	319	(16)
Resource Stock Externalities in General Equilibrium	335	(13)
Investment Timing and the Effect of a Tax Credit	348	(17)
Pure Public Goods with Many Private Goods	365	(9)
Voting and the Provision of Local Public Goods	374	(11)
The Optimal Return to Government Investment	385	(11)
Peak Load Pricing and the Structure of Demand Uncertainty	396	(10)
The Asymmetry of Taxes and Subsidies	406	(13)
Monopoly and the Extraction of an Exhaustible Resource	419	(12)
Alternative Mechanisms for Controlling Pollution	431	(8)
Regulating the Monopolistic Polluter	439	(9)
The Incidence of Pollution Control	448	(15)
Efficient Markets and Transactions Costs	463	(10)
Plea Bargaining Arrangements as Social Insurance	473	(10)
Education as an Economic Signal	483	(11)
Multiple Price Equilibria	494	(11)
The Value of Information	505