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Auctions - Online Book

1. Auctions: Theory and Practice

This book is a non-technical introduction to auction theory; its practical application in auction design (including many examples); and its uses in other parts of economics. It can be used for a graduate course on auction theory, or by picking selectively an advanced undergraduate or MBA course on auctions and auction design. [Details...]

Consumer Economics - Online Book

2. Lecture Notes in Microeconomic Theory

This short book contains my lecture notes for the first quarter of a microeconomics course for PhD or Master's degree economics students. The lecture notes were developed over a period of almost 15 years during which I taught the course, or parts of it, at Tel Aviv, Princeton, and New York universities. [Details...]

Game Theory - Online Book

3. Bargaining and Markets

The formal theory of bargaining originated with John Nash's work in the early 1950s. In this book we discuss two recent developments in this theory. The first uses the tool of extensive games to construct theories of bargaining in which time is modeled explicitly. The second applies the theory of bargaining to the study of decentralized markets. [Details...]

4. Economics and Language

Arising out of the author's lifetime fascination with the links between the formal language of mathematical models and natural language, this short book comprises five essays investigating both the economics of language and the language of economics. Ariel Rubinstein touches on the structure imposed on binary relations in daily language, the evolutionary development of the meaning of words, game-theoretical considerations of pragmatics, the language of economic agents, and the rhetoric of game theory. These short essays are full of challenging ideas for social scientists that should help to encourage a fundamental rethinking of many of the underlying assumptions in economic theory and game theory. [Details...]

5. Strategy and Conflict: An Introductory Sketch of Game Theory

This is a set of essays covering several game theory concepts. The author states "I have tried to limit these pages to fairly elementary topics and to avoid mathematics other than numerical tables and a very little algebra. The presentation is as intuitive as I have been able to make it, and keep it brief." [Details...]

6. Graduate-Level Course in Game Theory

The material presented would also be helpful to first-year PhD students learning game theory as part of their microeconomic-theory sequence, as well as to advanced undergraduates learning game theory. I consider the exposition detailed, rigorous, and self-contained. [Details...]

General Equilibrium - Online Book

7. Edgeworthian Exchange

A collection of articles providing a comprehensive coverage of the Edgeworthian Exchange. The following topics are covered: Edgeworth's Indeterminacy of Contract, Determinacy Restored, Edgeworth's Conjecture, Monopoly Pricing and Contracts, The Continuum Economy, Imperfect Curiosa, The Non-Standard Economy, Core Convergence, Adjustment Processes, and Coalitional Exchange. [Details...]

8. The Paretian System

A collection of articles providing a comprehensive coverage of the Paretian System. The follwoing topics are covered: Equilibrium, Efficiency, Market Failure, and Social Welfare. [Details...]

Information and Uncertainty - Online Book

9. Modeling Bounded Rationality

The basic motivation for studying models of bounded rationality springs from our dissatisfaction with the models that adhere to the "perfect rational man" paradigm. This dissatisfaction results from the strong tension arising from a comparison of the assumptions made by economic modelers about "perfect rationality" with observations about human behavior. This situation would be much less disturbing if we were able to perceive microeconomic models as "miraculous machines" that produce empirical linkages between economic parameters. I doubt that this is the case. I adhere to the view that the main objective of economic theory is to deduce interesting relationships between concepts that appear in our reasoning on interactive situations. Adopting this approach makes it important to examine the plausibility of the assumptions, and not only the conclusions. [Details...]

International Economics - Online Book

10. International Economics

This book brings together, and to a certain extent integrates, my theoretical writings on international economics over the past decade. All the major topics are touched on, and I have organized them into a pattern that seemed to me to make them most useful to the student. Part I analyzes the classical theory and covers such topics as the terms of trade, income transfers, productivity changes, tariffs, consumption taxes, production taxes, transport costs, tariff preferences, factor mobility, and policy analysis in the context of general equilibrium systems. Part II introduces monetary-dynamic elements into the theory of exchange and develops the theory of adjustment, the balance of payments, growth, the distribution of the burden of adjustment, optimum currency areas, monetary standards, and fixed and flexible exchange rate systems. Part III treats international macroeconomic theory from the standpoint of the theory of policy and develops the principle of effective market classification, the appropriate mix of monetary and fiscal policy under fixed and flexible exchange systems, capital mobility, the international transmission of cycles, commercial policy, the welfare cost of exchange crises, the crisis problem, and multiple-currency systems. [Details...]

Law and Economics - Online Book

11. Encyclopedia of Law and Economics

The Encyclopedia of Law and Economics is an ambitious reference work that attempts to survey the whole law and economics literature in nearly 5,000 pages. Most entries contain two elements: a review of the literature, written by an authority in the field, and a quasi complete bibliography (not just a selection). Economic analysis of law has expanded dramatically in recent years. In many branches, the literature is now at a 'mature' stage, where scholars agree on basic concepts, theories and even on policy recommendations. Yet, this scholarship does not reach many policymakers, lawyers or judges. Outside the USA, it even does not seem to reach law professors. This is not so much due to the fact that policymakers, judges or law professors are not interested in the economic consequences of legal rules, but rather to the fact that the literature is too unaccessible. There is a clear need for reference works that give a reliable overview of the literature in a way that is understandable also for non-specialists. This is the primary purpose of the Encyclopedia of Law and Economics. [Details...]

Macroeconomics and Monetary Economics - Online Book

12. Business Cycle Theory

A collection of articles providing a comprehensive coverage of the business cycle theory. The topics covered are Cycles: Some Empirical Issues, Climate Theories of the Cycle, Over-Investment Theories: the Continental tradition, Psychological and Lead/Lag Theories: the Anglo-American tradition, Monetary Theories of the Cycle, Underconsumption Theories, and Shock-Based Theories of the Cycle. [Details...]

Mathematical and Quantitative Methods - Online Book

13. Lecture Notes on Optimization

Notes on Optimization was published in 1971 as part of the Van Nostrand Reinhold Notes on System Sciences, edited by George L. Turin. Our aim was to publish short, accessible treatments of graduate-level material in inexpensive books (the price of a book in the series was about five dollars). The effort was successful for several years. Van Nostrand Reinhold was then purchased by a conglomerate which cancelled Notes on System Sciences because it was not sufficiently profitable. Books have since become expensive. However, the World Wide Web has again made it possible to publish cheaply. [Details...]

14. Statnotes: Topics in Multivariate Analysis

This online book provides links to various sections which each give an overview of the specific topic as well as key concepts and main ideas. [Details...]

15. Introductory Statistics: Concepts, Models, and Applications

The book, Introductory Statistics: Concepts, Models, and Applications, presented in the following pages represents over twenty years of experience in teaching the material contained therein. The high price of textbooks and a desire to customize course material for my own needs caused me to write this material. The major features of the text include: Development of the concept of creating mathematical models of the world; An extensive treatment of measurement and measurement scales as a model-building procedure; A slightly different organizational scheme than most introductory texts, with material presented in the following order: frequency polygons, models of frequency polygons, the normal curve, and then statistics. In addition, the presentation of transformations, linear transformations, and then linear regression follows a natural progression of material; Elimination of almost all computational formulas along with a general discussion of how to use a statistical calculator. This has been taken a step further in the Web Edition of the text as it is now possible to eliminate tables, such as the normal curve table, and all the computational procedures that go with them; This Web Edition presents copious examples of the use of SPSS/WIN 7.0 to do statistical procedures; The presentation of hypothesis testing as a process of testing mathematical models of the world. [Details...]

16. Electronic Statistics Textbook

This Electronic Statistics Textbook offers training in the understanding and application of statistics. The material was developed at the StatSoft R&D department based on many years of teaching undergraduate and graduate statistics courses and covers a wide variety of applications, including laboratory research (biomedical, agricultural, etc.), business statistics and forecasting, social science statistics and survey research, data mining, engineering and quality control applications, and many others. The Electronic Textbook begins with an overview of the relevant elementary (pivotal) concepts and continues with a more in depth exploration of specific areas of statistics, organized by "modules," accessible by buttons, representing classes of analytic techniques. A glossary of statistical terms and a list of references for further study are included. [Details...]

17. Urban Travel Demand: A Behavioral Analysis

This online book is broken down into 7 useful chapters which are able to be downloaded and then printed for use. [Details...]

18. Structural Analysis of Discrete Data and Econometric Applications

This online book discussing discrete data and econometric applicaions provide links to the chapters which can be downloaded into a printable form. [Details...]

19. Efe A. Ok


20. Real Analysis with Economic Applications

This is primarily a textbook on mathematical analysis for graduate students in economics. While there are a large number of excellent textbooks on this broad topic in the mathematics literature, most of these texts are overly advanced relative to the needs of a vast majority of economics students, and concentrate on various topics that are not readily helpful for studying economic theory. Moreover, it seems that most economics students lack the time and/or courage to enroll in a math course at the graduate level. Sometimes this is not even for bad reasons, for only few math departments offer classes that are designed for the particular needs of economists. Unfortunately, more often than not, the consequent lack of mathematical background creates problems for the students at a later stage of their education since an exceedingly large fraction of economic theory is impenetrable without some rigorous background in real analysis. The present text aims at providing a remedy for this inconvenient situation. [Details...]

21. Econometrics

This online book contains 24 chapters discussing the various aspects of econometrics. [Details...]

22. Discrete Choice Methods with Simulation

This online book contains 12 chapters about discrete choice methods. This electronic choice methods with simulation is made available for use by individuals for their personal research and study. [Details...]

Principles of Economics - Online Book

23. The Joy of Economics: Making Sense out of Life

The book is divided into three sections. The first takes a traditional, though non-technical, approach to develop such core economic concepts as comparative advantage, demand and supply, and economic efficiency. The second section applies these concepts to a wide range of microeconomic issues and the third section tackles macroeconomic issues. These last sections, especially the microeconomic one, are less traditional. Rather than than trying to explain economics, their emphasis is on using economics to explain everyday phenomena. The recurring theme is that differences in behavior across individuals and/or across time are the result of differences in perceived costs and benefits. To understand behavior, both good and bad, we must uncover the underlying costs and benefits that create it. [Details...]

24. The Best of Economics

An online textbook aimed at a high school course in economics. Topics covered include: growth theory; saving, finance, and social security; markets; and macroeconomics. [Details...]

25. A Pedestrian's Guide to the Economy

This site is a reference source which provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy. [Details...]

26. Macroeconomics

We have designed this book to be a supplement to Robert J. Barro's Macroeconomics, which is the textbook that is used in introductory macroeconomics courses at the University of Chicago. In teaching these courses, we have found that Barro's treatment of the subject does not make use of the mathematical skills of our students. In particular, Barro relies almost exclusively on economic intuition and graphs to elucidate his subject. Since our students are familiar with calculus, we are able to work out formal models. This almost always allows greater concreteness and concision. [Details...]

27. Essential Principles of Economics: A Hypermedia Text

A text covering microeconomics and macroeconomics principles, including: Neoclassical Economics; Money; Supply and Demand; International trade; Elasticity and Applications; Introduction to the Theory of Demand; Advanced Topics in the Theory of Demand; Productivity and Supply; Cost and Supply; Competition; Applications of Competetive Equilibrium Theory; Efficient Allocation of Resources; Monopoly; Oligopoly; Public Goods and Externalities; Markets for Factors of Production; Markets for Information Products; Measurement of the Aggregate Economy; Economic Growth; Problems of Macroeconomics; Aggregate Supply and Demand; The Income Expentiture Model; Economic Fluctuations in the Income Expenditure Model; Fiscal Policy; Monetary Policy; Coordination Failure; Consumption and the Life Cycle; Aggregate Supplyl; Applications of Aggregate Supply and Demand; Controversies in Macroeconomics; Marxist Economics; Twentieth Century Economic Systems. [Details...]

28. CyberEconomics: An Analysis of Unintended Consequences

(from the author) "The purpose of CyberEconomics: An Analysis of Unintended Consequences is simple and not too ambitious: to provide an interactive supplement to a principles of economics course. Because no book publisher sponsors it, it is not designed to fit for any particular text book. Rather it reflects what I find logical for the development of the subject matter... On these pages you will find a complete, two-semester course in introductory economics." [Details...]

29. Price Theory: An Intermediate Text

This online book contains links to 24 chapters dealing with various aspects of price theory. [Details...]

30. Macroeconomic Theory and Policy

An intermediate level text that relies on simple equilibrium models to interpret macroeconomic phenomena and evaluate policy. [Details...]

31. Introduction to Economic Analysis

This book presents introductory economics ("principles") material using standard mathematical tools, including calculus. It is designed for a relatively sophisticated undergraduate who has not taken a basic university course in economics. It also contains the standard intermediate microeconomics material and some material that ought to be standard but is not. The book can easily serve as an intermediate microeconomics text. The focus of this book is on the conceptual tools and not on fluff. Most microeconomics texts are mostly fluff and the fluff market is exceedingly over-served by $100+ texts. In contrast, this book reflects the approach actually adopted by the majority of economists for understanding economic activity. There are lots of models and equations and no pictures of economists. [Details...]

Production and Firm Behavior - Online Book

32. Neoclassical Theories of Production

A collection of articles providing a comprehensive coverage of the theory of production. The following topics are covered: the production function, returns to scale, technology and substitution, the elasticity of substitution, the production decision, the cost function, the profit function, production in general equilibrium theory, the neoclassical theory of distribution, the opportunity costs, theory of capital and investment, and the theory of the firm. [Details...]

33. Production Economics: A Dual Approach to Theory and Applications

This online book contains links to PDF chapters dealing with issues of the theory of production. These files can be viewed in Adobe's Acrobat Reader or printed. [Details...]

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