Description

By (author) Michael Baye; By (author) Michael Baye; By (author) Baye, Michael; By (author) Prince Jeff

:

Managerial Economics and Business Strategy has been revised to include updated examples and problems, but it retains all of the basic content that made previous editions a success. By teaching managers the practical utility of basic economic tools such as present value analysis, supply and demand, regression, indifference curves, isoquants, production, costs, and the basic models of perfect competition, monopoly, and monopolistic competition.

This 10th edition retails the emphasis on real-world examples and modern topics along with unique coverage found nowhere else: oligopoly, penetration pricing, multistage and repeated games, foreclosure, contracting, vertical and horizontal integration, networks, bargaining, predatory pricing, principal agent problems, raising rival’s costs, adverse selection, auctions, screening and signaling, search, limit pricing, and a host of other pricing strategies for firms enjoying market power. This balanced coverage of traditional and modern microeconomic tools makes it appropriate for a wide variety of managerial economics classrooms.

Table of contents:

Chapter 1. The Fundamentals of Managerial Economics

Chapter 2. Market Forces: Demand and Supply

Chapter 3. Quantitative Demand Analysis

Chapter 4. The Theory of Individual Behavior

Chapter 5. The Production Process and Costs

Chapter 6. The Organization of the Firm

Chapter 7. The Nature of Industry

Chapter 8. Managing in Competitive, Monopolistic, andMonopolistically Competitive Markets

Chapter 9. Basic Oligopoly Models

Chapter 10. Game Theory: Inside Oligopoly

Chapter 11. Pricing Strategies for Firms with Market Power

Chapter 12. The Economics of Information

Chapter Module Group A: Strategies to Change the BusinessEnvironment

Chapter Module Group B: Government in the Marketplace

CASE STUDY Spectrum—the Spawn of Time Warner Cable andCharter Communications— Navigates Challenges from Cord Cutting and MobileCompetition

Biographical note:
Michael R. Baye. University of Indiana Jeffrey T. Prince is Professor of Business Economics & Public Policy and Harold A. Poling Chair in Strategic Management at Indiana University’s Kelley School of Business. He received his B.A. in economics and B.S. in mathematics and statistics from Miami University in 1998 and earned a Ph.D. in economics from Northwestern University in 2004. Prior to joining Indiana University, he taught graduate and undergraduate courses at Cornell University.Jeff has won top teaching honors as a faculty member at both Indiana University and Cornell, and as a graduate student at Northwestern. He has a broad research agenda within applied economics, having written and published on topics that include demand in technology and telecommunications markets, internet diffusion, regulation in healthcare, risk aversion in insurance markets, and quality competition among airlines. He is one of a small number of economists to have published in both the top journal in economics (American Economic Review) and the top journal in management (Academy of Management Journal). Professor Prince currently is a co-editor at the Journal of Economics and Management Strategy, and serves on the editorial board for Information Economics and Policy. In his free time, Jeff enjoys activities ranging from poker and bridge to running and racquetball.