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ISBN10: 1264742010 | ISBN13: 9781264742011
Microeconomics and Behavior
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Explore the relationship between economic analysis and human behavior, written in a way that is intellectually challenging, but also accessible and engaging to students. Core analytical tools are embedded in a uniquely diverse collection of examples and applications to illuminate the power and versatility of the economic way of thinking. Students are encouraged to become Economic Naturalists who see the mundane details of ordinary existence in a sharp new light.
1. Thinking Like an Economist
2. Supply and Demand
Appendix: How Do Taxes Affect Equilibrium Prices and Quantities?
Part 2: The Theory of Consumer Behavior
3. Rational Consumer Choice
Appendix: The Utility Function Approach to the Consumer Budgeting Problem
4. Individual and Market Demand
Appendix: Additional Topics in Demand Theory
5. Applications of Rational Choice and Demand Theories
6. The Economics of Information and Choice Under Uncertainty
Appendix: Search Theory and the Winner’s Curse
7. Departures from Standard Rational Choice Models (with and without Regret)
Part 3: The Theory of the Firm and Market Structure
8. Production
Appendix: Mathematical Extensions of Production Theory
9. Costs
Appendix: Mathematical Extensions of the Theory of Costs
10. Perfect Competition
11. Monopoly
12. A Game-Theoretic Approach to Strategic Behavior
13. Oligopoly and Monopolistic Competition
Part 4: Factor Markets
14. Labor
Appendix: The Economics of Workplace Safety
15. Capital
Appendix: A More Detailed Look at Exhaustible Resource Allocation
About the Author
Robert Frank
Robert H. Frank is the H. J. Louis Professor of Management and Professor of Economics, emeritus, at Cornell’s Johnson School of Management, where he taught from 1972 to 2020. After receiving his B.S. from Georgia Tech in 1966, he taught math and science for two years as a Peace Corps Volunteer in rural Nepal. He received his M.A. in statistics in 1971 and his Ph.D. in economics in 1972 from The University of California at Berkeley. He also holds honorary doctorate degrees from the University of St. Gallen and Dalhousie University. During leaves of absence from Cornell, he has served as chief economist for the Civil Aeronautics Board (1978–1980), a Fellow at the Center for Advanced Study in the Behavioral Sciences (1992–1993), Professor of American Civilization at l’Ecole des Hautes Etudes en Sciences Sociales in Paris (2000–2001), and the Peter and Charlotte Schoenfeld Visiting Faculty Fellow at the NYU Stern School of Business in 2008–2009. His papers have appeared in the American Economic Review, Econometrica, the Journal of Polit-ical Economy, and other leading professional journals, and for more than two decades, his economics columns appeared regu-larly in The New York Times.
His research has focused on rivalry and cooperation in economic and social behavior. His books on these themes include Choosing the Right Pond (Oxford, 1985), Passions Within Reason (W. W. Norton, 1988), What Price the Moral High Ground? (Princeton, 2004), Falling Behind (University of California Press, 2007), The Economic Naturalist (Basic Books, 2007), The Economic Naturalist’s Field Guide (Basic Books, 2009), The Darwin Economy (Princeton, 2011), Success and Luck (Princeton, 2016), and Under the Influence (Princeton, 2020), which have been translated into 24 languages. The Winner-Take-All Society (The Free Press, 1995), co-authored with Philip Cook, received a Critic’s Choice Award, was named a Notable Book of the Year by The New York Times, and was included in BusinessWeek’s list of the 10 best books of 1995. Luxury Fever (The Free Press, 1999) was named to the Knight-Ridder Best Books list for 1999. Professor Frank is a co-recipient of the 2004 Leontief Prize for Advancing the Frontiers of Economic Thought. He was awarded the Johnson School’s Stephen Russell Distinguished Teaching Award in 2004, 2010, 2012, and 2018, and the School’s Apple Distinguished Teaching Award in 2005. His introductory microeconomics course has graduated more than 7,000 enthusiastic economic naturalists over the years.
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