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Prices and Quantities by Rakesh V. Vohra

Prices and Quantities

by Rakesh V. Vohra
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₹11,067.00
₹11,310.00
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₹11,067.00
₹11,067.00

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Book cover type: Hardcover
  • ISBN13: 9781108488938
  • Binding: Hardcover
  • Subject: N/A
  • Publisher: Cambridge University Press
  • Publisher Imprint: Cambridge University Press
  • Publication Date:
  • Pages: 220
  • Original Price: GBP 87.0
  • Language: English
  • Edition: N/A
  • Item Weight: 545 grams
  • BISAC Subject(s): Economics / Microeconomics

Rakesh V. Vohra offers a unique approach to studying and understanding intermediate microeconomics by reversing the conventional order of treatment, starting with topics that are mathematically simpler and progressing to the more complex. The book begins with monopoly, which requires single variable rather than multivariable calculus and allows students to focus clearly on the fundamental trade-off at the heart of economics: margin versus volume. Imperfect competition and the contrast with monopoly follows, introducing the notion of Nash equilibrium. Perfect competition is addressed toward the end of the book, and framed as a model of non-strategic behavior by firms and agents. The last chapter is devoted to externalities, with an emphasis on how one might design competitive markets to price externalities and linking the difficulties to the problem of efficient provision of public goods. Real-life examples engage the reader while encouraging them to think critically about the interplay between model and reality.

Vohra, Rakesh V.: - Rakesh V. Vohra is the George A. Weiss and Lydia Bravo Weiss University Professor at the University of Pennsylvania. He is the author of Principles of Pricing: An Analytical Approach (with Lakshman Krishnamurthi, 2012) and Mechanism Design: A Linear Programming Approach (2011).

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