"Decision making lies at the heart of most important business and government problems. The range of business decisions is vast: Should a high-tech company undertake a promising but expensive research and development (R&D) program? Should a petrochemical manufacturer cut the price of its...

This paper presents the results of an experimental study of the life cycle model in which subjects were asked to make preferred consumption choices under hypothetical life cycle economic conditions. The questions in the experiment are designed to test the model's assumption of rational choice...

This paper examines the effect of the labor-leisure choice on portfolio and consumption decisions over an individual's life cycle. The model incorporates the fact that individuals may have considerable flexibility in varying their work effort (including their choice of when to retire). Given...

"The last 25 years have witnessed an unprecedented increase in competition in both national and world markets. In this competitive environment, managers must make increasingly complex business decisions that will determine whether the firm will prosper or even survive. Today, economic analysis...

Samuelson & Mark's Managerial Economics, 8th edition provides a detailed introduction to managerial economics for undergraduates, MBAs, and executives. Each chapter opens with a description of a challenging managerial problem and concludes by revisiting and analyzing the decision, allowing...

This paper develops a model showing that people who have flexibility in choosing how much to work will prefer to invest substantially more of their money in risky assets than if they had no such flexibility. Viewed in this way, labor supply flexibility offers insurance against adverse investment...

Introduction -- Game Theory Models in Finance -- Game Theoretic Models in Accounting -- GT and Marketing -- Game Theoretic Models in Operations Management and Information Systems -- Incentive Contracting and Franchise Decisions -- Game Theory and the Practice of Bargaining -- GT Models of...

"The 7th Edition of Managerial Economics continues to provide real-world examples and necessary decision-making skills for making thoughtful and advantageous managerial decisions. Samuelson & Marks build on their strong behavioral coverage to better target this current and "hot topic" in...