Managerial and Business Economics (ME/BE) aims at using quantitative and computational methods to make an efficient (ideally optimal) assignment of the scarce resources owned by firms and organizations. In the current global market, characterized by a fierce competition, an optimal use of the...

Empirically, financialisation analysis can be addressed from either a macroeconomic or micr oeconomic perspective. In aggregate terms, the former implies observing the growing influence exerted by financial transactions, overly dominant financial markets and alterations to industrial economy...

This paper takes up the matter of quality choice in undergraduate microeconomics and is divided into two sections. The first develops a conceptual framework underlying a linear demand structure for quality-differentiated goods. The second section incorporates a quality-differentiated demand...

Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on these topics. By the nature...

Economics instructors are often looking for new content to improve student engagement and motivation in the classroom. The Netflix Original series Cowboy Bebop provides an additional option to instructors. The TV show offers excellent examples of microeconomics concepts (e.g., opportunity cost,...

Using a large dataset of US investors and their portfolio startups, we analyze the phenomenon of micro VC investors, that is, VC firms managing funds smaller than $50 million. We show that investments by micro VCs have increased at a much steeper rate than those by traditional VCs during...

Here are fifteen computer-based exercises in microeconomics. The first seven exercises correspond to basic concepts from an introductory course on the subject: production possibilities, supply and demand, product-market structures, public goods. The other eight exercises apply some of these...

The focus of the paper was to conduct an analysis of the selected qualitative and quantitative aspects of the labour market and the potential ability of the young generation to adapt to the new conditions of their prospective employment. The primary data were obtained in the form of a...

Microeconomic evidence reveals that the incidence and duration of unemployment in the 1930s varied significantly within the labor force. Long-term unemployment, which was especially high by historical standards, may have been exacerbated by federal relief policies

A number of market failures have been associated with R&D investments and significant amounts of public money have been spent on programs to stimulate innovative activities. In this paper, we review some recent microeconomic studies evaluating effects of government sponsored commercial R&D. We...

Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on these topics. By the nature...

This paper reports on the current status of the microeconomic research on labor supply behavior. The purpose is to direct attention to microeconomic research that may be helpful in the continuing evaluation of aggregate models designed to explain the dynamic behavior of wages, employment and...

Classes in microeconomics typically use cubic cost functions because they can exhibit marginal costs that fall as output increases to some efficient level, and then rise thereafter. Cubic cost functions embody economies of scale, making it easy to illustrate that concept with quadratic average...

This paper aims to provide a swift tour of the economic issues presented by vouchers and thus to fill an apparent gap in the literature for a basic survey of the subject. Among the issues it considers are: factors determining a voucher's cash-equivalence; reasons (such as paternalism,...

This chapter reviews the recent theoretical and empirical economic literature on migrants' remittances. It is divided between a microeconomic section on the determinants of remittances and a macroeconomic section on their growth effects. At the micro level we first present in a fully harmonized...

Markets for durable goods constitute an important part of the economy. In this paper I first briefly review the microeconomic theory literature on durable-goods markets, focusing mostly on the last ten years. I then discuss a number of my own recent analyses concerning optimal antitrust policy...

After the publication of Keynes' "General Theory," economics was frequently described as schizophrenia: (neo-) classical at the micro-level, but Keynesian at the macro-level. In actuality, Keynes' revolution was, to a substantial part, based on the behavioral micro-foundations of the world we...

"Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic, social, and environmental realities. The "In Context" books offer...

Researchers make hundreds of decisions about data collection, preparation, and analysis in their research. We use a many-analysts approach to measure the extent and impact of these decisions. Two published causal empirical results are replicated by seven replicators each. We find large...

In contrast with the "missing micro-foundations" argument against Keynes’s macro­economics, the paper argues that it is the present state of microeconomics that needs more solid "Keynesian foundations". It is in particular Keynes’s understanding of investors’ behaviour that can be...

By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance sheet profiles may be perceived as non fungible in a controlled frictionless environment with no probabilistic attributes. A large majority of subjects indeed have a bias in...

Where do new resources come from? We build on the premise that environments feature vast reservoirs of latent resources, uses and resource combinations. However, identifying this value can be costly and difficult. In this paper we consider the thought experiment of an endowment-less firm and how...

We provide 11 short exercises that can be used in a principles of microeconomics classroom which incorporate media clips from the Economics Media Library. The exercises have been used in both small and large classroom settings and take less than 15 minutes to complete. These teaching guides can...

Managerial and Business Economics (ME/BE) aims at using quantitative and computational methods to make an efficient (ideally optimal) assignment of the scarce resources owned by firms and organizations. In the current global market, characterized by a fierce competition, an optimal use of the...

This third and last open access volume in the series takes the perspective of non-EU countries on immigrant social protection. By focusing on 12 of the largest sending countries to the EU, the book tackles the issue of the multiple areas of sending state intervention towards migrant populations....

This first open access book in a series of three volumes provides an in-depth analysis of social protection policies that EU Member States make accessible to resident nationals, non-resident nationals and non-national residents. In doing so, it discusses different scenarios in which the...

This second open access book in a series of three volumes examines the repertoire of policies and programmes led by EU Member States to engage with their nationals residing abroad. Focusing on sending states’ engagement in the area of social protection, this book shows how a series of...

"Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and...

"Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and...

"Our fourth streamlined edition arrives in the midst of some of the most dramatic upheavals ever witnessed, both in the economy generally and in higher education in particular. The COVID-19 pandemic has produced levels of unemployment not seen since the Great Depression and has created dramatic...

Die Mikroökonomie ist für viele Bachelorstudierende ein Angstfach - speziell für angehende Betriebswirte. Dieses Buch hilft dabei, die Prüfungsvorbereitung zu optimieren und stellt 77 charakteristische Prüfungsaufgaben mit Schwierigkeitsgrad, Bearbeitungszeit und Musterlösung vor. Auf...

This Second Edition updates the companion workbook to match the new edition of the textbook Principles of Microeconomics. Each chapter features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios. The textbook...

This textbook provides a comprehensive and unique introduction to modern microeconomics. It adopts an integrative approach, positioning the main findings of economics in a broader context. It critically reflects on theories from a philosophical standpoint and compares them to approaches found in...