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Homepage - Economics, Politics and Sociology - Textbooks - Models in Microeconomic Theory ('He' Edition)

Models in Microeconomic Theory ('He' Edition)

Models in Microeconomic Theory ('He' Edition) Martin J. Osborne and Ariel Rubinstein
Paperback ISBN: 978-1-78374-920-1 £26.95
Hardback ISBN: 978-1-78374-921-8 £36.95
PDF ISBN: 978-1-78374-922-5 £0.00

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Read about the importance of this contribution on our .

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, Studies in Microeconomics 9(1) 128–129, 2021 


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.

Throughout this book, the pronouns he/his are used. Please, click here if you want to access the edition where the pronouns she/her are used.



Models in Microeconomic Theory
Martin J. Osborne and Ariel Rubinstein | March 2020
362 pp. | 8" x 10" (203 x 254 mm)
ISBN Paperback: 978-1-78374-920-1
ISBN Hardback: 978-1-78374-921-8
ISBN Digital (PDF): 978-1-78374-922-5
DOI: 10.11647/OBP.0204
Subject Codes: BIC: KCA (Economic theory and philosophy) BUS (Micro-economics and economic theory) JHBC (Social research and statistics), K (Economics, finance, business and management); BISAC: BUS044000 (BUSINESS & ECONOMICS / Economics / Microeconomics), BUS069030 (BUSINESS & ECONOMICS / Economics / Theory); OCLC Number: 1148094465.


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Personal note
Preface


Part I Individual behavior

Preferences and utility Download
Martin Osborne and Ariel Rubinstein

Choice Download
Martin Osborne and Ariel Rubinstein

Preferences under uncertainty Download
Martin Osborne and Ariel Rubinstein

Consumer preferences Download
Martin Osborne and Ariel Rubinstein

Consumer behavior Download
Martin Osborne and Ariel Rubinstein

Producer behavior Download
Martin Osborne and Ariel Rubinstein

Monopoly Download
Martin Osborne and Ariel Rubinstein


Part II Equilibrium

A jungle Download
Martin Osborne and Ariel Rubinstein

A market Download
Martin Osborne and Ariel Rubinstein

An exchange economy Download
Martin Osborne and Ariel Rubinstein

Variants of an exchange economy Download
Martin Osborne and Ariel Rubinstein

A market with consumers and producers Download
Martin Osborne and Ariel Rubinstein

Equilibrium with prices and expectations Download
Martin Osborne and Ariel Rubinstein

A market with asymmetric information Download
Martin Osborne and Ariel Rubinstein


Part III Game theory

Strategic games Download
Martin Osborne and Ariel Rubinstein

Extensive games Download
Martin Osborne and Ariel Rubinstein


Part IV Topics

Mechanism design Download
Martin Osborne and Ariel Rubinstein

Matching Download
Martin Osborne and Ariel Rubinstein

Socialism Download
Martin Osborne and Ariel Rubinstein

Aggregating preferences Download
Martin Osborne and Ariel Rubinstein


Index

Martin J. Osborne received a PhD from Stanford University in 1979 and is currently a Professor of Economics at the University of Toronto.  He was a member of the group that founded the Open Access journal Theoretical Economics, and served at the editor of that journal from 2005 to 2013. He is the author of An Introduction to Game Theory (2003) and a coauthor, with Ariel Rubinstein, of Bargaining and Markets (1990) and A Course in Game Theory (1994).

Ariel Rubinstein was born in Jerusalem in 1951 and lives in Tel Aviv.  He received his PhD from the Hebrew University in Jerusalem in 1979. Has been a Professor at the Hebrew University and at Princeton. Currently he is a (Emeritus) Professor at Tel Aviv University and a Professor at New York University. He has served as the President of the Econometric Society (2004). He is a foreign honorary member of the American Academy of Arts and Sciences and the American Economic Association, a  Fellow of the Israeli Academy of Sciences and a Corresponding Fellow of the British Academy. He won the Israel Prize (2002), the Nemmers Prize (2004), the EMET prize (2006) and the Rothschild Prize (2010). He has written 105 articles and 6 books: Bargaining and Markets (with M. Osborne) (1990), A Course in Game Theory (with M. Osborne) (1994), Modeling Bounded Rationality (1998), Economics and Language (2000), Lecture Notes in Microeconomics (2005) and Economic Fables (2012). His main fields of research are Economic Theory, Decision Theory, Models of Bounded Rationality and Game Theory.
A Solution Manual for Models in Microeconomic Theory is available to instructors on request.

Please go to http://gametheory.tau.ac.il/MIMTsolutions/ to request an electronic copy.