Microeconomics principles and analysis phần 9 ppsx

... BACKGROUND ( 199 9), Ostaszewski ( 199 3), Simon and Blume ( 199 4) or Sydsæter and Ham- mond ( 199 5). A useful summary of results is to be found in the very short, but rather formal, book by Sydsæter et al. ( 199 9). On ... Sydsæter et al. ( 199 9). On optimisation in economics see Dixit ( 199 0) and Sundaram (2002). For more on applications of convexity and …xed-point theorems see...

Ngày tải lên: 09/08/2014, 19:21

... Boadway and Bruce ( 198 4). On the “constitution” approach see Arrow ( 195 1), Black ( 195 8) and the excellent paper by Vickrey ( 196 0) ; for the basis of Theorem 9. 2 see Black ( 194 8). The standard ... as that in Figure 9. 6 gives the expression for loss (9. 23). 16 13 Use equations (7.8), (7 .9 ) and theorem 2.7 to show how (9. 21) follows from (9. 20). 14 Show how to derive (9...

Ngày tải lên: 09/08/2014, 19:21

... :::  = 8 > > < > > : z h if  = 1 and h is not pivotal z h   h if  = 1 and h is pivotal 0 if  = 0 and h is not pivotal  h if  = 0 and h is pivotal (12.32) where  is determined ... Table 12.7, and it yields the following important result. (For proof see Appendix C) Theorem 12.7 (Clark-Groves) A scheme which (a) approves a project if and only if (12. 29) is no...

Ngày tải lên: 09/08/2014, 19:21

... that engage in European economic and political activities. In February 199 2, the Treaty on European Union of 199 2 established that monetary union would take place by January 199 9. The treaty, also called ... franc 36.785 39. 4 09 Netherlands guilder 1 .97 78 2.12 19 Swiss franc 1.4643 1.63 69 25-IntnatlFinancial Page 858 Wednesday, April 30, 2003 12:13 PM International Financial Manag...

Ngày tải lên: 09/08/2014, 16:21

... . . . . . . . . . . . . . . . 94 5 The Consumer and the Market 99 5.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 5.2 The market and incomes . . . . . . . . . ... . . . . . . . . . . 258 9. 5.1 Welfare, national income and expenditure . . . . . . . . . 2 59 9.5.2 Inequality and we lfare loss . . . . . . . . . . . . . . . . . . 261 9. 6 Summary...

Ngày tải lên: 09/08/2014, 19:21

... likely-looking equation involving prices and in- come on the right-hand side and commodity quantities on the left-hand side and expect it to b e a valid demand function. To see why, note two things: 12 Draw ... AND THE MARKET 2. In a market of a thousand consumers the demand curve for the commodity is given by p = A  bq where q is total quantity demanded and A and b are positive...

Ngày tải lên: 09/08/2014, 19:21

... results on the …rm’s demand and supply functions and the consumer’s demand functions. 18 Prove this law, using the facts that (a) for each household income equals expenditure, and that (b) each household’s ... R 5 sketch the attainable set for commodities 1 and 2. 5.8. READING NOTES 117 the household – to the analysis of labour supply and of the demand for loans and the supply o...

Ngày tải lên: 09/08/2014, 19:21

... in Figure 9 but where the individual is risk-loving for small risks and risk-averse for large risks. 8.5. LOTTERIES AND PREFERENCES 199 Figure 8.18: The probability diagram: # = 3 7.8 and B.21) ... available and then also select P 3 when P 4 is available (Bell 198 2, Loomes and Sugden 198 2). 222 CHAPTER 8. UNCERTAINTY AND RISK 8.7 An example of the Ellsberg paradox (Ellsberg...

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... in the game is developed in Harsanyi ( 196 7). For the history and precursors of the concept of Nash equilibrium see Myerson ( 199 9); on Nash equilibrium and behaviour see 338 CHAPTER 11. INFORMATION Figure ... 10. STRATEGIC BEHAVIOUR Mailath ( 199 8) and Samuelson (2002). Subgame-perfection as an equilibrium concept is attributable to Selten ( 196 5, 197 5). The folk theorem and var...

Ngày tải lên: 09/08/2014, 19:21

... Press. Sydsæter, K. and P. J. Hammond ( 199 5). Mathematics for Economic Analysis (Third ed.). Englewood Cli¤s, New Jersey: Prentice-Hall International. Sydsæter, K., A. Strøm, and P. Berck ( 199 9). Economists’Mathematical ... Journal of Economic Theory 4, 180– 199 . Stone, J. R. N. ( 195 4). Linear expenditure systems and demand analysis: . Economic Journal 64, 511–527. Sugden, R....

Ngày tải lên: 09/08/2014, 19:21