Models in Microeconomic Theory ('She' Edition) - cover image

Copyright

Martin J. Osborne; Ariel Rubinstein

Published On

2020-03-27

ISBN

Paperback978-1-78374-892-1
Hardback978-1-78374-893-8
PDF978-1-78374-894-5

Language

  • English

Print Length

362 pages (xviii + 344)

Dimensions

Paperback203 x 25 x 254 mm(8" x 0.99" x 10")
Hardback203 x 29 x 254 mm(8" x 1.13" x 10")

Weight

Paperback2141g (75.52oz)
Hardback2690g (94.89oz)

OCLC Number

1148094465

LCCN

2019452865

BIC

  • KCA
  • JHBC
  • K

BISAC

  • BUS044000
  • BUS069030

LCC

  • HB172

Keywords

  • microeconomic theory
  • basic models
  • models of an economic agent
  • equilibrium
  • game theory
  • mechanism design
  • matching
  • axiomatic analysis of economic systems
  • social choice
  • undergraduate students
  • microeconomics
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Models in Microeconomic Theory ('She' Edition)

Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.

Reviews

There are many adjectives that one could reasonably use to describe the new open-access textbook, 'Models in Microeconomic Theory' by Martin Osborne and Ariel Rubinstein—terse, rigorous, deep and technically demanding, among them. But to me, the word that best describes their effort is ‘honest’.

Rajiv Sethi, Barnard College, Columbia University

"Review: Martin J. Osborne and Ariel Rubinstein, Models in Microeconomic Theory". Studies in Microeconomics (2321-0222), vol. 9, no. 1, 2021. doi:10.1177/2321022220980178

Full Review

Additional Resources


[website]Solution Manual for Models in Microeconomic Theory

A Solution Manual for Models in Microeconomic Theory is available to instructors on request. Please visit the site to request an electronic copy.

Table of Contents

Personal note

Preface


Part I Individual behavior


Preferences and utility

Martin Osborne and Ariel Rubinstein


Choice

Martin Osborne and Ariel Rubinstein


Preferences under uncertainty

Martin Osborne and Ariel Rubinstein


Consumer preferences

Martin Osborne and Ariel Rubinstein


Consumer behavior

Martin Osborne and Ariel Rubinstein


Producer behavior

Martin Osborne and Ariel Rubinstein


Monopoly

Martin Osborne and Ariel Rubinstein


Part II Equilibrium


A jungle

Martin Osborne and Ariel Rubinstein


A market

Martin Osborne and Ariel Rubinstein


An exchange economy

Martin Osborne and Ariel Rubinstein


Variants of an exchange economy

Martin Osborne and Ariel Rubinstein


A market with consumers and producers

Martin Osborne and Ariel Rubinstein


Equilibrium with prices and expectations

Martin Osborne and Ariel Rubinstein


A market with asymmetric information

Martin Osborne and Ariel Rubinstein


Part III Game theory


Strategic games

Martin Osborne and Ariel Rubinstein


Extensive games

Martin Osborne and Ariel Rubinstein


Part IV Topics


Mechanism design

Martin Osborne and Ariel Rubinstein


Matching

Martin Osborne and Ariel Rubinstein


Socialism

Martin Osborne and Ariel Rubinstein


Aggregating preferences

Martin Osborne and Ariel Rubinstein


Index


Contributors