Microeconomic Foundations II: Imperfect Competition, Information, and Strategic Interaction

Microeconomic Foundations, Volume II provides a cutting-edge introduction to key topics in modern economic theory for first-year graduate students in economics and related fields. It emphasizes foundational material, emphasizes the applications of game theory, and underscores why theory is most useful when it supports economic intuition.

Format: Hardback
Length: 800 pages
Publication date: 23 May 2023
Publisher: Princeton University Press

A comprehensive and cutting-edge introduction to key topics in modern economic theory, designed specifically for first-year graduate students in economics and related fields. This second volume of Microeconomic Foundations delves into the models and methods that form the foundation of contemporary microeconomic theory. Authored by renowned economic theorist David Kreps, the textbook emphasizes foundational material, focusing on seminal works that provide insight into the development and evolution of the theory.

Given the central role of noncooperative game theory in modeling and analyzing microeconomic phenomena, the book places great emphasis on its applications in economics. Throughout, it underscores the importance of theory in supporting rather than supplanting economic intuition.

The textbook covers a wide range of topics, including agency theory, market signaling, relational contracting, bilateral bargaining, auctions, matching markets, and mechanism design. Each topic is presented in a clear and concise manner, with an emphasis on practical examples and real-world applications.

In addition to its theoretical content, Microeconomic Foundations includes extensive appendices that review the essential concepts of noncooperative game theory. These appendices provide guidance on how to use game theory effectively in studying economic phenomena, as well as highlighting its limitations and potential pitfalls.

To enhance the learning experience, the textbook includes free online supplements, such as chapter outlines, overviews, solutions to all the problems in the book, and more. These resources are designed to support students in their studies and help them grasp the key concepts and theories covered in the text.

Whether you are a first-year graduate student embarking on your academic journey in economics or a professional seeking to expand your knowledge and expertise in the field, Microeconomic Foundations is an essential resource. With its comprehensive coverage, practical examples, and engaging writing style, this textbook provides a solid foundation for understanding modern economic theory and its applications to real-world situations.

Weight: 1598g
Dimension: 185 x 262 x 50 (mm)
ISBN-13: 9780691250144