Customer Reviews:
The very best pricing manual.......2007-09-23
I bought a second copy of this book after loaning it to too many people to know who had had it last.
The book is not light reading, is highly technical and has more than a little math to comprehend. But, it is worth it.
The strategic thinking is very focused.
If you are stuck on how to price your product or how to combat price competition, read this book.
Looking for guidance/framework on how to price our products ..........2007-03-08
We have the challenge of taking new products and services to the marketplace and really were looking form some guidance on a place to start. The area we are working in is really developing a new market as well. So we were wondering "What Price do we place on these product and services?"
We could not afford the experts on pricing (aka Strategic Pricing Group now part of The Monitor Group). And were looking for a place to start. All research including reviews from Amazon pointed us to start with this book. To myself and our endeavor, it the first 3 weeks of owning the book, I have read several chapters multiple times and the foundation framework on pricing is shares has already proven to be worth many times the price of the book.
On top of it, it is easy to read. Thanks to the people who took the time to make this book.
Great Book.......2007-02-18
This book is a great guide to the topic of pricing. I'm an MBA student and I believe students as well as professionals can benefit from reading this book. It contains structures and frameworks to work out a tailored pricing strategy and they all make sense. Lots of good examples from business practice illustrate the application of the theories.
The book is relatively quantitative for a marketing book, which I find great because there is no argumentation based on psychology and belief, but on quantifiable parameters - one can see the consulting practice of the authors.
What the book pretty much lacks is a citing of new academic research studies of the topics discussed. There are extensive references, however.
All in all a great book to newcomers in pricing as well as experienced pricers.
Excellant........2007-02-11
This is one of the best books in pricing. My Pricing professor recommended that I buy this and said that marketing managers regularly refer to this book in practice. This is a great buy.
The Strategy and Tactics of Pricing: A Guide to Growing More Profitably (4th Edition) .......2007-02-06
Worth buying it. Good and useful material.
Average customer rating:
- Strongly recommended
- An Evaluation of the Game Theory Material
- Just Excellent
- Heavy-weight Microeconomics book
- Scary at first, but you'll learn a lot
|
Microeconomic Theory
Andreu Mas-Colell ,
Michael D. Whinston , and
Jerry R. Green
Manufacturer: Oxford University Press, USA
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Mathematics for Economists
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ASIN: 0195073401 |
Book Description
Many instructors of microeconomic theory have been waiting for a text that provides balanced and in-depth analysis of the essentials of microeconomics. Masterfully combining the results of years of teaching microeconomics at Harvard University, Andreu Mas-Colell, Michael Whinston, and Jerry Green have filled that conspicuous vacancy with their groundbreaking text, Microeconomic Theory. The authors set out to create a solid organizational foundation upon which to build the effective teaching tool for microeconomic theory. The result presents unprecedented depth of coverage in all the essential topics, while allowing professors to "tailor-make" their course to suit personal priorities and style. Topics such as noncooperative game theory, information economics, mechanism design, and general equilibrium under uncertainty receive the attention that reflects their stature within the discipline. The authors devote an entire section to game theory alone, making it "free-standing" to allow instructors to return to it throughout the course when convenient. Discussion is clear, accessible, and engaging, enabling the student to gradually acquire confidence as well as proficiency. Extensive exercises within each chapter help students to hone their skills, while the text's appendix of terms, fully cross-referenced throughout the previous five sections, offers an accessible guide to the subject matter's terminology. Teachers of microeconomics need no longer rely upon scattered lecture notes to supplement their textbooks. Deftly written by three of the field's most influential scholars, Microeconomic Theory brings the readability, comprehensiveness, and versatility to the first-year graduate classroom that has long been missing.
Customer Reviews:
Strongly recommended.......2007-09-28
This is not only a text book but also a very sourceful handbook of microeconomics. It is worth owning all your lifetime. Even one day when, we are old, we at least could see all we knew about the microeconomic world at that time.
An Evaluation of the Game Theory Material.......2007-07-09
This compendium of introductory graduate economic theory was written in 1995, yet is still the industry standard. The game theory portion of the book covers about 10% of the total 970-plus pages, and can be considered the "common culture" of economics graduate students operating in the neoclassical tradition. It appeared later than most of the popular game theory textbooks (including Fudenberg and Tirole, Kreps, and Myerson), but much foundational game theory was produced in the period from 1985 to 1995, and hence is not presented in this, or any other, textbook used in graduate courses. The result is that the current generation of young economists is reared on a rather Utopian and uncritical game theory catechism.
The authors ask the right question: "What should we expect to observe in a game played by rational players who are fully knowledgeable about the structure of the game and each others' rationality?" (p. 235) They begin to answer this question correctly, relying on the concept of "rationalizability" developed in 1984 by Bernheim and Pearce (the reader should Google references in this review, as I will not provide the full bibliographical details). They correctly characterize rationalizable strategies as those that survive the iterated elimination of strongly dominated strategies, but they accept uncritically the conclusion that rationalizable strategies "can be said to be precisely the set of strategies that can be played by rational players..." (p. 243). This is highly misleading. On the one hand, we have Basu's Traveler's Dilemma game in which the only rationalizable strategy is virtually never played by real-life players, even game theorists. Moreover, there is a wide class of games of strategic complementarity, exemplified by Carlsson and van Damme's investment game, in which there is a unique rationalizability strategy which is also risk-dominant. This will be played by real players only when error rates are large, and this is not because there is some failure of rationality. The problem here is that the concept of common knowledge of rationality is in some way faulty. Exactly how is an open question at the moment. Rubinstein's Email Game is another example of a game with a unique but absurd rationalizable strategy.
The authors move on from rationalizability to Nash equilibrium. I believe this is a theoretical error, since the next logical step is to assume common priors and common knowledge of rationality, which Aumann (1987) has shown renders Bayesian rationality equivalent to correlated equilibrium. As Aumann and other authors stress, correlated equilibrium is the "natural" equilibrium concept in classical game theory, not Nash equilibrium. The correlated equilibrium concept is also a bridge to a game-theoretic analysis of social institutions and "social epistemology."
The book's defense of the Nash equilibrium concept is (justifiably) half-hearted, and does not include the strongest justification, from evolutionary game theory (there is no evolutionary anything in this book, much less evolutionary game theory). There is no satisfying justification of the Nash criterion in this book at all, in fact. However, the problems with Nash equilibrium are discussed only in passing, if at all. For instance, the authors never even try to defend the notion that a player will play a mixed strategy in a one-shot game! There are strong defenses of this notion by Harsanyi (the Purification Theorem) and Aumann (Nash conjectural equilibrium). These defense are themselves faulty, accepted by game theorists only because there is nothing better. But, the authors could have broached the subject.
The book makes a half-hearted attempt to deal with the equilibrium refinement literature, and weakly defends perfection, subgame perfection, and sequentiality. Most economists have learned in graduate school that rationality implies backward induction (subgame perfection) even though there is no justification for this view in the primary literature. The authors do little to dispel this notion, although they do present the Centipede Game as an example where backward induction may not be justified. In fact, backward induction can rarely be justified on rationality (or any other) grounds in games where players move two or more times along the equilibrium path of play, except in special circumstances.
In sum, the treatment of game theory is competent but limited, and not intellectually exciting, because the authors do not convey the deep challenges that the commitment to explaining strategic behavior on the basis of Bayesian rationality presents to the game theorist. The problematic status of game theory in its current instantiation are thereby glossed over, so that the deep epistemological problems recognized by professional game theorists are not reflected in the use of game theory by applied practitioners.
Just Excellent.......2007-06-29
This is the best Microeconomics book for any graduate student in economics. Don't hesitate to read this book whatever bad reviews or opinons are out there. If you're a phd student and you're serious about economics (otherwise why would you be doing a phd in economics), you need to study from this book.
Heavy-weight Microeconomics book.......2007-02-11
This book is a real heavy-weight book, in its context and in its size of over 1000 pages. It provides most foundations you need in microeconomics. Finish this book and find applications of your interests elsewhere: it does not contain many applications of microeconomics as it is not intended to be an book of applications. (Mild warning: after you read this book, most likely, you will see microeconomics differently.) It is not an easy book, but the payoff is massive.
PS. For those who mention that this book lacks economics policy implications, I think to be fair, this book is not meant to be a policy oriented book--it just builds the necessary foundations, then you find policy oriented books elsewhere.
Scary at first, but you'll learn a lot.......2005-09-15
I must confess the first time I opened the book I was surprised by how mathematical this book is. But as you read on you find that you learn more from this book than from others because microeconomic principles are well stated and proved rather than defined with vague statements.
Book Description
This graduate text provides an intuitive but rigorous treatment of contemporary methods used in microeconometric research. The book makes clear that applied microeconometrics is about the estimation of marginal and treatment effects, and that parametric estimation is simply a means to this end. It also clarifies the distinction between causality and statistical association.
The book focuses specifically on cross section and panel data methods. Population assumptions are stated separately from sampling assumptions, leading to simple statements as well as to important insights. The unified approach to linear and nonlinear models and to cross section and panel data enables straightforward coverage of more advanced methods. The numerous end-of-chapter problems are an important component of the book. Some problems contain important points not fully described in the text, and others cover new ideas that can be analyzed using tools presented in the current and previous chapters. Several problems require the use of the data sets located at the author's website.
Customer Reviews:
Everything people say is true, but..........2007-09-05
This book has no graphs - not one. As long there are no graphs or figures, this work will remain incomplete.
The missing link for cross section, panel data and program evaluation.......2007-06-02
This book fills a real gap for those who are interested in things like ATE, ATET and topics related to impact evaluation that are only talked about now in research papers. The explanations are very very clear and they walk you through the thinking process by which the different methods were developed. Of course, it has the traditional coverage of panel data and cross section but with the clarity that Wooldridge always delivers on his books. For all that, this is a perfect addition to your econometric libraries as it covers topics that are not discussed in traditional and introductory econometric books.
A comprehensive survey.......2007-05-12
This book provides an excellent overview about state-of-the-art methodologies in econometrics. Instead of other textbooks it stresses more on conditionals and explains potential problems with underlying assumptions in more detail. As I find it sometimes hard to orientate myself, I give 4 stars.
Very good coverage on cross-sectional, but not enough of panel data.......2006-08-18
This book does an excellent job in covering cross-sectional and microeconometric models (Stata codes for all examples in the book are available from UCLA's webside). However, the exposure to panel data is limited. For a theoretical overview of panel data econometrics, I'd recommend Hsiao and Baltagi. For applied work, Edward Frees wrote a good book, although his book is more from the social science perspective (SAS and Stata codes are provided).
The best? Not for me (and everyone I know)........2005-09-30
Clearly this product is overrated. In my opinion the book is a complete mess, with definitions, propositions and theorems mixed with the main text and not clearly evidenced from it.
It's funny, because the book uses a panoplia of bolds, italics, etc in the main text (well, there is only main text here) which I dislike and think is unnecessary, and then do not use it to evidence the important results. As a result I think this is probably the worst book that I can remember of for reference.
There are better books and it's almost impossible to get one worse than this one.
Book Description
Applauded for providing the most clear and accurate presentation of advanced microeconomic concepts, Walter Nicholson brings us Microeconomic Theory: Basic Principles and Extensions, 8e . It gives readers the opportunity to work directly with theoretical tools, real-world applications, and cutting edge developments in the study of microeconomics. Reviewers exclaim, "Nicholsons text is solid, rigorous and comprehensive. It is sensibly challenging for students, best serving students with a mathematics background, and absolutely essential for those who are preparing for graduate studies in economics."
Customer Reviews:
Good intermediate micro.......2007-04-24
This book is very well structured and makes your troubled economist life easier. You definitely need math knowledge but Nicholson explains difficult concepts in a masterful and understandable manner, so the ideas are easier to understand. I would say it is between Varian and Mas Colell. The first part is abundant in relevant examples (it somehow dwindles after) and the questions at the end of the chapters are quite useful.
Very good intermediate book.......2006-12-21
It is very good textbook to learn microeconomics with intuitions and methodology. But, some people are comparing this book with Mas Colell. Nonsense! Mas Colell is a PhD level, pretty technical, "heavy duty" book. This book is an intermediate level book for senior undergrads or master students. On the other hand, Binger&Hofmann's Microeconomics with Calculus book is better then this, in my opinion. It has less story more information. This book spends lots of lines to explain some small points which is boring for someone who should know these stories before starting graduate studies. But it is more comprehensive than baby Varian. Some departments are using Pyndick's book, but I didn't use it. I believe that Binger&Hofmann is the best in this category if you wanna learn Microeconomics using mathematical tools.
Pretty good book........2006-11-10
the shipping was alright.. the book is new and pretty good. happy with it overall..=)
Very Good Overview of Micro Theory.......2006-11-10
After using this book for a math-intensive micro theory course, I would heartily recommend Nicholson's text, which is written clearly with relevant examples and straightforward, useful problems at the end of each chapter. The book is very math-intense and requires a good knowlege of multivariable calculus, but since the reader is probably buying this book for a class, he or she most likely already has the mathematics background necessary. Thumbs up.
Not such an easy read.......2006-10-18
Okay book, not the best read, but better than the Mas-Collel green books. This book gives a lot of info on theory but I thought it lacked wrt practical (applied examples). Used for a graduate level course in Micro Econ. My particular course is very hard (this class serves both graduate and PhD Finance students) so needless to say, I am ordering the workbook to help me survive!
Product Description
New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.
Book Description
Ever since Edwin Mansfield pioneered the popular theory-and-application approach with the First Edition of Microeconomics, the text has been a perennial leader in the intermediate microeconomics course field. Starting with the Tenth Edition and continuing with the Eleventh, co-author Gary Yohe has thoroughly revised the text while retaining its traditional strengths. Discussions remain accurate and clear, making use of engaging examples that draw on real-world applications to motivate the presentation of theory. This revitalized classic promises to continue to please instructors and their students.
Customer Reviews:
Very good.......2005-10-03
The book arrived on time and was in a condition I expected. Very good!
Average customer rating:
- Great book, (0 stars to Amazon.co.uk)
- Good Starter of I.O, comprehensive, self-satisfactory
|
Advanced Industrial Economics
Stephen Martin
Manufacturer: Blackwell Publishing Limited
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The Theory of Industrial Organization
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Industrial Organization: Theory and Applications
ASIN: 0631217568 |
Book Description
This updated and substantially revised second edition, like its predecessor, integrates a discussion of the latest theoretical developments with a comprehensive review of empirical work. Designed for upper-level undergraduates and graduates in industrial economics, there are complete treatments of the basic oligopoly models that are the bread and butter of theoretical industrial economics (Cournot, Bertrand, and extensions; horizontal and vertical product differentiation), of models of strategic behavior as well as of the determination of market and firm structure, and of the literatures on collusion, advertising, and the economics of innovation. Stephen Martin also provides a complete review of empirical tests of market performance, from Bain to the 'empirical renaissance' and beyond.
contains expanded treatments of: hotelling's spatial model oligopoly with quality differentiation empirical evidence on entry and exit the analysis of firm structure presents new discussions of: the classical view of the Cournot model strategic substitutability and complementarity representative consumer models of product differentiation the Kreps and Scheinkman model with product differentiation the New Empirical Industrial Organization, Solow residual, and event study approaches to the analysis of market power deterministic and stochastic models of research and development With a more cohesive writing style, reduced size, additional invaluable information, and new problems to solve, the second edition of Advanced Industrial Economics is a key text in industrial economics.
The paperback edition of this book is not available from Blackwell in the US or Canda
Customer Reviews:
Great book, (0 stars to Amazon.co.uk).......2005-02-18
I bought this book 4 weeks ago and I am still waiting. I just keep receiving emails saying that they are having some delay so in 1-2 week they will dispatche the book.
If you really need this book go and buy it someplace else.
Good Starter of I.O, comprehensive, self-satisfactory.......2000-02-16
No doubt, one of the best for those interested in graduate level of industrial organization. Readers can learn about major business strategies in industrial markets and its welfare implications. Leading theories, major empirical analyses, and added author's view against too influential Chicago ideas will giveĀ@excellent perspective of the progress in the field. The appendix of game theory is written to make the book self-satisfactory.
Average customer rating:
- Over Amitious
- Interesting and still relevant text on business economics
- A textbook on the firm.
- Possibly the best applied economics text ever.
|
Economics, Organization and Management, The
Paul Milgrom , and
John Roberts
Manufacturer: Prentice Hall
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Similar Items:
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The Modern Firm: Organizational Design for Performance and Growth
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Economics of Strategy
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Firms, Contracts, and Financial Structure (Clarendon Lectures in Economics)
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The Mechanisms of Governance
ASIN: 0132246503 |
Book Description
A systematic treatment of the economics of the modern firm, this book draws on the insights of a variety of areas in modern economics and other disciplines, but presents a coherent, consistent, innovative treatment of the central problems in organizations of motivating people and coordinating their activities.
KEY TOPICS: Introduces the fundamental problems organizations encounter and explains why they occur. Discusses a number of patterns of response — showing why organizations are structured as they are, why they adopt the policies they do, and how they solve organizational problems themselves.
Customer Reviews:
Over Amitious.......2005-09-08
While I really love this book (have studied it in detail from cover to cover) it tries to do too much.
It covers the CAPM model for example, but doesn't go into enough detail so that a reader can really get a good grasp of the model. Also, it shies away from using proper mathematical analysis of some models (as with many other American textbooks) which will give a naive reader a false sense of security.
Otherwise a great book, it's breadth and readability is excellent - would love an update sometime :)
Interesting and still relevant text on business economics.......2004-09-30
Paul Milgrom and John Roberts are big name professors at Stanford. You know they are big name because on the cover of the book their names are bigger than the title. That's sort of the definition, right?
Seriously, this is a very fine book. Even though it is a dozen years old and much has happened in the theories of organization, compensation, and incentives, the information in this book remains valuable. The book has 17 chapters organized in 7 parts. They are:
1)Does Organization Matter
2)Coordination: Markets and Management
3)Motivation: Contracts, Information, and Incentives
4)Efficient Incentives: Contracts and Ownership
5)Employment: Contracts, Compensation, and Careers
6)Finance: Investments, Capital Structure, and Corporate Control
7)The Design and Dynamics of Organization
I think that presenting these business topics as topics in economics is very helpful in developing the right habits of thinking. While the book is not heavy in mathematics, it does present the relevant formulas and does not shy away from serious discussions of economics. In this way it is a very practical and applied text.
While this book has been and should continue to be used in classes, I hope it gets a larger audience in the general readership interested in business and economics. It really is that interesting and well written.
A textbook on the firm........2002-06-25
This book is probably the first textbook on economics of organization. Since published in 1992, it has been widely used in classes. The main framework of the book lies in the conception of the firm as a system of incentive/coordination to allocate efficiently resources. So this book is an extension of neoclassical approach to the area of organization, though such concepts like bounded rationality and transaction cost are incorporated deeply into the architecture of the book. Unlike usual textbooks, this book has the overarching coherence with theoretical depth over various subjects like centralized/decentralized organization, moral hazard, rent, ownership, human resource management, investment, corporate governance. Such consistency is possible for its theoretical position: neoclassical approach. In that stance, the actor is motivated in its rational calculation, in other word incentive, although it¡¯s bounded in terms of information. How to organize such actor into an organization is the problem of coordination in the theory of the firm. Such an approach was widely adopted in the 1980s. But these days, resources/capabilities approach and evolutionary economics dominate the discourse on the firm. Capabilities, resources, dynamic capabilities, organizational learning, routine, tacit knowledge, knowledge creation, those are buzzwords to date. If you are to be specialized in the theory of the firm, this book should be read. But if not, I recommend Besanko, Dranove, and Shanley¡¯s ¡®Economics of Strategy¡¯. It takes trendy approach and that, it explains each subject with live examples from business world.
Possibly the best applied economics text ever........2000-04-22
Bluntly, this is the best university text in economics written in the 1990s. This may also be the best university text in useful economics ever written. You will learn a great deal about getting incentives right, about corporate governance, and about the labor market for managers. Its only flaw is that it overlooks the fact that the tools it teaches, and the arguments it lays out, can be used to formulate a powerful critique of government as well as of the modern corporation.
Book Description
Unrivaled in its unique combination of analytical rigor and accessibility, Intermediate Microeconomics: A Modern Approach has garnered one of the broadest adoption lists in the market. Now appearing in its Sixth Edition, Professor Varian's hallmark text is better than ever, featuring new treatments of game theory and competitive strategy, and a variety of new illustrative examples. Modern, authoritative, and above all crafted by an outstanding teacher and scholar, Intermediate Microeconomics, Sixth Edition will expand students' analytic powers and strengthen their understanding of microeconomics.
Customer Reviews:
Great Book.......2007-08-26
Great book. Very useful. I have the textbook still in shrink wrap, and the workbook that goes along with it. I want to part with it. Sctops140 at aol dot com for details. I purchased it for a microeconomics class at Beloit College. The workbook helps understand the concepts explained in the textbook.
terrible economics book.......2007-02-23
As many others have noted it contains very few numerical examples. I didnt have the workbook so maybe that would have helped, but so far this book is completely useless. I wouldnt recommend this unless you really love the pure formulas an no examples. If its required i guess its better than nothing
Fantastic Textbook.......2007-01-10
We used this textbook in my intermediate micro class at Cornell University, and I have to say, it is quite possibly the best textbook I've had. I'm more of a math person myself, and this book did a wonderful job of fleshing out the concepts with mathematical examples. Definitely recommended!
Good Ec Book.......2006-12-13
This is the standard intro-level economics textbook at Harvard, and it is well written. Covers all expected topics to good depth, with excellent examples. A reasonably suitable book for reading, and a simply useful textbook. Recommended.
Very confusing.......2006-12-04
I have use this book for my undergraduate class. It is too confusing to understand anything I read.
Book Description
This book is a calculus-based microeconomic theory text for undergraduates and graduates that successfully balances theoretical/intuitive (verbal), graphical (visual), and mathematical presentation in order to appeal to various learning styles. The text combines theory and applications more completely than most offerings in this course area, and bridges the gap between low-level texts that relegate math to footnotes and upper-level texts that focus only on math at the expense of theory and applications.
Customer Reviews:
This book is horrible!.......2006-03-26
This text was used in a graduate level microeconomics class I took last semester. We frequently found mistakes in the formulas, mistakes in the odd answers that are provided for problems, mistakes in the text's explanations. Answers to the odd problems often took the long, strange way to arrive at an answer. Or they were incorrect. For example, optimization problems often were solved without partial differentiation, using suspect math.
Some chapters were convoluted and confusingly written--for the second half of the semester the professor frequently started class with an apologetic "I know the chapter on ___ was confusing and hard to follow: these are the key points you should have gotten out of it..."
In addition, some of the theory such as that found in the public goods chapter is really unusual--not consistent with the accepted interpretations of other economists. While the focus on providing a format useful to visual and graphical learners is nice, the verbal half of those explanations was often lacking. And we also found a couple of incorrectly drawn graphs to confuse things further. Walter Nicholson's 9th edition Microeconomic Theory: Basic Principles and Extensions is far superior! I used it constantly when Wetzstein's text left me once again guessing...
As a first edition, I'm sure the book will improve in future editions. But geez, I worked in publishing before I went back to school--and the content of this book was not proofed very well. I was surprised, especially since it is published by Thompson-South Western.
Good Product.......2005-07-08
The book arrived about 2 weeks after I bought it, from the United States to Mexico, so I consider it was a very good service. I recomend to send the books into a harder covering because I noticed that my book was damaged in a certain level because of the transportation within a very weak covering; may be the price would be a little higher but it's worthwhile. The book was in good conditions.
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- Berlitz German Phrase Book
- Business Law: November 2002 Exam Questions & Answers
- Valuing Health Care: Costs, Benefits, and Effectiveness of Pharmaceuticals and Other Medical Technol
- Artrage
Power Pricing
The Art of Pricing: How to Find the Hidden Profits to Grow Your Business
The Price Advantage (Wiley Finance)
Pricing on Purpose: Creating and Capturing Value
Pricing for Profitability: Activity-Based Pricing for Competitive Advantage
