An Introduction to the Economic Theory of Market Behavior PDF Download
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Author: Donald W. Katzner
Publisher: Edward Elgar Publishing
ISBN: 9781781958575
Category : Business & Economics
Languages : en
Pages : 748
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Book Description
'This is an important, rigorous, and thoroughly engaging text on the economic theory of market behavior. It is unique in the attention devoted to the philosophical underpinnings and the historical background of the Walrasian Theory. Professor Katzner challenges his readers to understand the strengths and the limitations of what has gone before, and he provides guidance as to how he would like to see price theory develop in the future. This is among those rare texts that is designed to inspire further research.' - Hugo Sonnenschein, University of Chicago, US
Author: Donald W. Katzner
Publisher: Edward Elgar Publishing
ISBN: 9781781958575
Category : Business & Economics
Languages : en
Pages : 748
Get Book Here
Book Description
'This is an important, rigorous, and thoroughly engaging text on the economic theory of market behavior. It is unique in the attention devoted to the philosophical underpinnings and the historical background of the Walrasian Theory. Professor Katzner challenges his readers to understand the strengths and the limitations of what has gone before, and he provides guidance as to how he would like to see price theory develop in the future. This is among those rare texts that is designed to inspire further research.' - Hugo Sonnenschein, University of Chicago, US
Author: Andrei Shleifer
Publisher: OUP Oxford
ISBN: 0191606898
Category : Business & Economics
Languages : en
Pages : 295
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Book Description
The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents and empirically evaluates models of such inefficient markets. Behavioral finance models both explain the available financial data better than does the efficient markets hypothesis and generate new empirical predictions. These models can account for such anomalies as the superior performance of value stocks, the closed end fund puzzle, the high returns on stocks included in market indices, the persistence of stock price bubbles, and even the collapse of several well-known hedge funds in 1998. By summarizing and expanding the research in behavioral finance, the book builds a new theoretical and empirical foundation for the economic analysis of real-world markets.
Author: Charles A. Holt
Publisher: Princeton University Press
ISBN: 0691188971
Category : Business & Economics
Languages : en
Pages :
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Book Description
From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory. Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions. Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory. New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis Participatory experiments that connect behavioral theory and laboratory research Largely self-contained chapters that can each be covered in a single class Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided
Author: Angus Deaton
Publisher: Cambridge University Press
ISBN: 9780521296762
Category : Business & Economics
Languages : en
Pages : 468
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Book Description
For advanced courses in economic analysis, this book presents the economic theory of consumer behavior, focusing on the applications of the theory to welfare economies and econometric analysis.
Author: Johnny Ch LOK
Publisher:
ISBN:
Category :
Languages : en
Pages : 70
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Book Description
In consumption view, in general , consumers choose to buy any products in preference, they will evaluate whether the product can bring the maximum economic or useful benefit to them in order to make the final purchase in our society. Such as organic food choice case, food consumers' choices , where people's may come from direct influence of other people's behavior andsocial norms on our behaviors. Then, theory assumes we independently know what we want and that our preferences are fixed. So, this standard theory is very good at explaining short -term decision-making. Suc as green vegatables and choose beans as they are on special offer, but can not explain longer-term changes in preferences. I now only choose organic foods. So, behavioral economy theory can predict short term consumers behavioral choice to decide what factors influence their choices change, but it can not predict long-term consumers behavioral choice to decide what factors influence their choices change, because it has much unpredictable factors are difficult to estimate , when they will influence now consumers behavioral change in our society.Artificial intelligence is one good machine tool to predict consumer behavior in behavioral view, our social media, facebook, which is the most populat platform in the wourld. Any digital markets can apply webs, such as facebook to post message to communicate with their fans or followers ( predicting online purchase behaviors , when they can occur). So, theapplications of such method an be observed from data analysis in social media platforms to predict online consumers behaviors. Machine learning aims to maximize the efficiency of computer program using sample data or precedent experiences . A model is developed with designed in learning to perform computer program operation in order to enhance efficiency of the modelusing train data or post experiences. The model is developed to be capable of predicting or describing knowledge from the data or both. Hence, AI may be used to researchconsumer behavior probability from marketing communication by social medial web, face book online channel, on facebook using machine learning. Machine learning data classification to reseach consumer behavioral characteristicss to any kinds of product.ON online purchase process research, online consumers must need to experience these five stages. They may include attention, interest, search, action adn share. In the beginning, working process starts when a consumer notices or sees a product, a service or an advertisement ( attention). Then, the interest is stimulated in order to get more information aboutsuch product or service ( search). In this stage, a consumer will seek for the others' comments, reviews, posts from internet, comparison websites, formal webpages of organization or even from a conversation with family members or friends who have been using the product or service. After that, the consumer will express whose own opinion considering the others' opinions on that product or service. This stage leads to the decision of the consumer to buy ( action). Finally, the consumer will act as a messager by word of mouth, conversation, or online posts of whose opinion and impression ( sharing). Thus, it seems that facebook pages may influence upon consumer behavior. When marketers who posses Facebook account to test. The messages posted through Facebook pages are then collected so as too through Facebook pages are then collected so as to perform a study of online consumer behaviors.
Author: Gary S. Becker
Publisher: University of Chicago Press
ISBN: 022621706X
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
Since his pioneering application of economic analysis to racial discrimination, Gary S. Becker has shown that an economic approach can provide a unified framework for understanding all human behavior. In a highly readable selection of essays Becker applies this approach to various aspects of human activity, including social interactions; crime and punishment; marriage, fertility, and the family; and "irrational" behavior. "Becker's highly regarded work in economics is most notable in the imaginative application of 'the economic approach' to a surprising breadth of human activity. Becker's essays over the years have inevitably inspired a surge of research activity in testimony to the richness of his insights into human activities lying 'outside' the traditionally conceived economic markets. Perhaps no economist in our time has contributed more to expanding the area of interest to economists than Becker, and a number of these thought-provoking essays are collected in this book."—Choice Gary Becker was awarded the Nobel Prize in Economic Science in 1992.
Author: Don Ross
Publisher: MIT Press
ISBN: 9780262182461
Category : Business & Economics
Languages : en
Pages : 466
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Book Description
A hilariously funny cookbook–cum–how–I–did–it memoir by the chef/restaurateur who created New York's dazzling Ápizz restaurant. At the age of thirty–seven, John LaFemina left a lucrative career as a jeweler to become a chef. Instead of going back to school, or getting on–the–job training, he did it the hard way: he bought the restaurant and then taught himself to cook. Today he owns two of New York's great Italian restaurants–Ápizz and Peasant–and is one of the city's most–talked–about chefs, earning rave reviews from fans and critics. In this gorgeous cookbook, he not only shares scores of recipes, but describes his life as a Canarsie boy learning about meatballs and macaroni in his mother's kitchen–and reveals how he drew on a lifetime of Italian cooking, and his own hard work and exquisite taste to create his dream restaurant from scratch. LaFemina takes us step–by–step through the process of finding the perfect location (and figuring out how many meatballs you have to sell to pay the rent), designing a restaurant, procuring all the necessary permits and licenses, and creating the menu. And this is just the first part of running a restaurant. He shares his experiences in dealing with the public and the press, unexpected disasters, and finally, basking in the glory of a popular restaurant. Along with his inspiring story, John LaFemina also shares 100 mouthwatering recipes, including: Lasagna with Braised Wild Boar Mushroom Risotto Veal, Beef, and Pork Meatballs with Ricotta Filling Open Ravioli with Roasted Butternut Squash Creamsicle Panna Cotta Chocolate Banana Bread Pudding
Author: Charles A. Holt
Publisher: Princeton University Press
ISBN: 0691179247
Category : Business & Economics
Languages : en
Pages : 695
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Book Description
First edition published: Boston: Pearson Addison Wesley, 2007.
Author: Steven Kates
Publisher: Edward Elgar Publishing
ISBN: 1786431394
Category : Capitalism
Languages : en
Pages : 630
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Book Description
If you are genuinely interested in what is wrong with modern economics, this is where you can find out. If you would like to understand the flaws in Keynesian macro, this is the book you must read. If you are interested in marginal analysis properly explained, you again need to read this book. Based on the classical principles of John Stuart Mill, it is what is missing today; a text based on explaining how an economy works from a supply-side perspective.
Author: Kalman Goldberg
Publisher: M.E. Sharpe
ISBN: 9780765605085
Category : Business & Economics
Languages : en
Pages : 510
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Book Description
Designed to meet the special needs and interest level of non-economics majors at the undergraduate level, this "principles of economics" textbook makes two important modifications to the traditional introductory approach. First, the author emphasizes the operation of the economy as a system, so that contemporary problems are examined in the broader context of the system that gives rise to them, which in our case is a "market" system. This emphasis is particularly important since so many nations are shifting to market-oriented economies. Second, precisely because economic theory is important, the author is selective and purposeful in its inclusion and introduces it only when it contributes positively to the student's understanding -- not in all its refinements, and not for its own sake. The overriding objective of this text, therefore, is to help students understand the economic context in which they will play out their personal and professional lives, both in the United States and in the world.
