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202 results in Microeconomics

Page 1 of 11

The Economics of Language
  • How Large Language Models Can Reshape Behavioural Economics
  • Valerio Capraro
  • Coming soon
  • Expected online publication date:
    April 2026
    Print publication:
    30 April 2026
  • The development of artificial intelligence and machine learning is leading to a revolution in the way we think about economic decisions. The Economics of Language explores how the use of generative AI and large language models (LLMs) can transform the way we think about economic behaviour. It introduces the LENS framework (Linguistic content triggers Emotions and suggests Norms, which shape Strategy choice) and presents empirical evidence that LLMs can predict human behaviour in economic games more accurately than traditional outcome-based models. It draws on years of research to provide a step-by-step development of the theory, combining accessible examples with formal modelling. Offering a roadmap for future research at the intersection of economics, psychology, and AI, this book equips readers with tools to quantify the role of language in decision-making and redefines how we think about utility, rationality, and human choice.

Games and Coalitions
  • Bridging Non-cooperative and Cooperative Approaches
  • Akira Okada
  • Coming soon
  • Expected online publication date:
    April 2026
    Print publication:
    30 April 2026
  • Coalition formation is an important problem in economics, politics, and a broad range of other social situations. Examples of coalitions range from those at the level of individuals (families, couples, teams, employers, workers) through to those at the level of organisations and countries (political parties, free trade agreements, environmental agreements, military alliances). Traditionally, game theory has been divided into non-cooperative and cooperative games. The former approach scrutinizes individuals' rational behaviour under a well-specified process of a game. The latter presents various cooperative solutions based on collective rationality. Games and Coalitions draws on both approaches, providing a bridge between cooperative and non-cooperative analyses of coalition formation. Offering a useful research monograph regarding the models, results and applications of non-cooperative coalitional bargaining theory, this book illustrates how game theory applies to various economic and political problems, including resource allocation, public goods, wage bargaining, legislative bargaining, and climate cooperation.

Empirical Bayes
  • Some Tools, Rules, and Duals
  • Roger Koenker, Jiaying Gu
  • Coming soon
  • Expected online publication date:
    March 2026
    Print publication:
    31 March 2026
  • Empirical Bayes methods as envisioned by Herbert Robbins are becoming an essential element of the statistical toolkit. In Empirical Bayes: Tools, Rules, and Duals, Roger Koenker and Jiaying Gu offer a unified view of these methods. They stress recent computational developments for nonparametric estimation of mixture models, not only for the traditional Gaussian and Poisson settings, but for a wide range of other applications. Providing numerous illustrations where empirical Bayes methods are attractive, the authors give a detailed discussion of computational methods, enabling readers to apply the methods in new settings.

Advances in Economics and Econometrics
  • Twelfth World Congress
  • Volume 1
  • Edited by Victor Chernozhukov, Johannes Hörner, Eliana La Ferrara, Iván Werning
  • Published online:
    28 November 2025
    Print publication:
    12 February 2026
  • Every five years, the World Congress of the Econometric Society brings together scholars from around the world. Leading scholars present state-of-the-art overviews of their areas of research, offering newcomers access to key research in economics. Advances in Economics and Econometrics: Twelfth World Congress consist of papers and commentaries presented at the Twelfth World Congress of the Econometric Society. This two-volume set includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a variety of topics, covering both theory and application. The first volume addresses such topics as contract theory, industrial organization, health and human capital, as well as racial justice, while the second volume includes theoretical and applied papers on climate change, time series econometrics, and causal inference. These papers are invaluable for experienced economists seeking to broaden their knowledge or young economists new to the field.

Animal Economics
  • Directly and Indirectly Accounting for Animal Welfare
  • Nicolas Treich
  • Published online:
    18 November 2025
    Print publication:
    13 November 2025
  • Why does animal welfare matter? For some, it is because people care about animals; for others, it is because animals themselves are morally relevant. Given the importance of welfare in economics research and the debates around climate change and biodiversity loss, more economists are becoming interested in the economics of animal welfare. Animal Economics provides a general introduction to this new field. It explores the complexity of the behavioral attitude of humans toward animals using behavioral economics and explains how existing economic theory can be applied to understand animal welfare as an externality. Combining theory and empirical research to address key issues in animal welfare, including ethical perspectives, public opinion, market demand, and policy design, this book builds on economics principles to explore how to implement optimal policies that reflect human proanimal concerns and the moral status of animals.

Advances in Economics and Econometrics
  • Twelfth World Congress
  • Volume 2
  • Edited by Victor Chernozhukov, Johannes Hörner, Eliana La Ferrara, Iván Werning
  • Published online:
    11 November 2025
    Print publication:
    12 February 2026
  • Every five years, the World Congress of the Econometric Society brings together scholars from around the world. Leading scholars present state-of-the-art overviews of their areas of research, offering newcomers access to key research in economics. Advances in Economics and Econometrics: Twelfth World Congress consist of papers and commentaries presented at the Twelfth World Congress of the Econometric Society. This two-volume set includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a variety of topics, covering both theory and application. The first volume addresses such topics as contract theory, industrial organization, health and human capital, as well as racial justice, while the second volume includes theoretical and applied papers on climate change, time series econometrics, and causal inference. These papers are invaluable for experienced economists seeking to broaden their knowledge or young economists new to the field.

Stratification Economics and Disability Justice
  • Adam Hollowell, Keisha Bentley-Edwards
  • Published online:
    21 June 2025
    Print publication:
    05 June 2025
  • In Stratification Economics and Disability Justice, Adam Hollowell and Keisha Bentley-Edwards explore how the work of Black disabled activists can and should inform economic analysis of inequality in the United States. Presenting evidence of disability-based inequality from economics, sociology, disability studies, and beyond, they make a case for the inclusion of ableism alongside racism and misogyny in stratification economics' analysis of intergroup disparity. The book highlights the limitations of traditional economic analyses and elevates quantitative and qualitative intersectional research methods across four key areas in stratification economics: employment, health, wealth, and education. Chapters also recommend public policies to advance fair employment, healthcare access, and equal education for Black disabled people in the US Incisive and compelling, Stratification Economics and Disability Justice follows the lead of Black disabled activists pursuing intersectional advancement of economic justice.

From Decision Theory to Game Theory
  • Reasoning about the Decisions of Others
  • Andrés Perea
  • Published online:
    17 June 2025
    Print publication:
    19 June 2025
  • From Decision Theory to Game Theory shows how the reasoning patterns of common belief in rationality, correct beliefs and symmetric beliefs can be defined in a unified way. It explores the link between decision theory and game theory, particularly how various important classes of games (e.g., games with incomplete information, games with unawareness and psychological games), can be analysed from both a unified decision-theoretic and unified interactive-reasoning perspective. Providing a smooth transition between one-person decision theory and game theory, it views each game as a collection of one-person decision problems – one for every player. Written in a non-technical style, this book includes practical problems and examples from everyday life to make the material more accessible. The book is targeted at a wide audience, including students and scholars from economics, mathematics, business, philosophy, logic, computer science, artificial intelligence, sociology and political science.

Funding White Supremacy
  • Federal Wealth Policies and the Modern Racial Wealth Gap
  • Robert B. Williams
  • Published online:
    27 May 2025
    Print publication:
    12 June 2025
  • In Funding White Supremacy, Robert B. Williams shows how current federal policies have perpetuated and expanded the racial wealth gap in the United States. Through the lens of stratification economics, Williams explores how twelve tax expenditures buried in the federal tax code shower over $1 trillion annually to mostly wealthy, white households, while federal estate and gift taxes have been systematically dismantled. The book reveals how these policies originated in a period of overt racial oppression and have evolved in the modern, post-Civil Rights era, not only contributing to the expanding racial wealth gaps over the last fifty years but how they have also fostered the growth of white wealth at the expense of Black wealth. This book is a must-read for anyone seeking to understand how federal policies contribute to the vast and expanding racial wealth gap at the core of the American system of white supremacy.

Principles of Behavioral Economics
  • Microeconomics and Human Behavior
  • Sanjit Dhami
  • Published online:
    13 February 2025
    Print publication:
    16 January 2025
  • Principles of Behavioral Economics, written by an acknowledged leader in the field, provides a comprehensive introduction to one of the most exciting areas of modern economics. It demonstrates how models of economic theory can be enriched by using interdisciplinary insights from psychology, sociology, evolutionary biology, and neuroscience to build the basis for a more empirically supported set of economic principles. Unique in its level of rigor and lucidity, the book highlights the important link between theoretical and empirical economics by demonstrating the usefulness of a range of data sources such as observational data, lab data, survey data, and neuroeconomic data. This field-defining textbook argues that behavioral economics is not just a supplement to mainstream economics. Taking behavioral economics seriously requires a total rethink, and eventual transformation, of every area of economics.

Behavioural Economics and Policy for Pandemics
  • Insights from Responses to COVID-19
  • Edited by Joan Costa-Font, Matteo M. Galizzi
  • Published online:
    31 January 2025
    Print publication:
    02 May 2024
  • Behavioural economics and behavioural public policy have been fundamental parts of governmental responses to the Covid-19 pandemic. This was not only the case at the beginning of the pandemic as governments pondered how to get people to follow restrictions, but also during delivery of the vaccination programme. Behavioural Economics and Policy for Pandemics brings together a world-class line-up of experts to examine the successes and failures of behavioural economics and policy in relation to the Covid-19 pandemic. It documents how people changed their behaviours and use of health care and discusses what we can learn in terms of addressing future pandemics. Featuring high-profile behavioural economists such as George Loewenstein, this book uniquely uncovers behavioural regularities that emerge in the different waves of COVID-19 and documents how pandemics change our lives.

Economics without Preferences
  • Microeconomics and Policymaking Beyond the Maximizing Individual
  • Michael Mandler
  • Published online:
    02 January 2025
    Print publication:
    16 January 2025
  • Economics without Preferences lays out a new microeconomics – a theory of choice behavior, markets, and welfare – for agents who lack the preferences and marginal judgments that economics normally relies on. Agents without preferences defy the rules of the traditional model of rational choice but they can still systematically pursue their interests. The theory that results resolves several puzzles in economics. Status quo bias and other anomalies of behavioral economics shield agents from harm; they are expressions rather than violations of rationality. Parts of economic orthodoxy go out the window. Agents will fail to make the fine-grained trade-offs ingrained in conventional economics, leading market prices to be volatile and cost-benefit analysis to break down. This book provides policy alternatives to fill this void. Governments can spur innovation, the main benefit markets can deliver, while sheltering agents from the upheavals that accompany economic change.

The Cambridge Handbook of Healthcare
  • Productivity, Efficiency, Effectiveness
  • Edited by Shawna Grosskopf, Vivian Valdmanis, Valentin Zelenyuk
  • Published online:
    21 November 2024
    Print publication:
    28 November 2024
  • Healthcare is inextricably bound to productivity, efficiency, and economic development. Although many methods for analyzing productivity and efficiency have been extensively covered, relatively little focus has been placed on how those methods can be applied to health care in a coherent and comprehensive manner. The Cambridge Handbook of Healthcare outlines current foundations and states of the art on which future research can build. It brings together experts in this growing field to cover three key sources and aspects of human welfare – productivity, efficiency, and healthcare. Beginning with academic focused chapters, this book bridges and provides outreach to the practice and regulation of the health care industry and includes academic and regulatory perspectives, including overviews of major evidence from international empirical applications. Each chapter is dedicated to a particular topic and delivered by international experts on that topic.

The Peace Formula
  • Voice, Work and Warranties, Not Violence
  • Dominic Rohner
  • Published online:
    31 August 2024
    Print publication:
    15 August 2024
  • Economic forces play a major role in the outbreak and perpetuation of violence, but they also hold the key for positive change. Using a non-technical and accessible style, The Peace Formula attacks a series of misconceptions about how economics has been used to foster peace. In place of these misconceptions, this book draws on rich historical anecdotes and cutting-edge academic evidence to outline the 'peace formula' – a set of key policies that are crucial ingredients for curbing armed conflict and achieving transition to lasting peace and prosperity. These policies include providing jobs (work), democratic participation (voice), and guaranteeing the security and basic functions of the state (warranties). Investigating specific political institutions and economic policies, this book provides the first easily accessible synthesis of this work and explains how 'smart idealism' can help us get the incentives of our leaders right. The stakes could hardly be higher.

Contests
  • Theory and Applications
  • Carmen Beviá, Luis Corchón
  • Published online:
    30 May 2024
    Print publication:
    06 June 2024
  • Contest theory is an important part of game theory used to analyse different types of contests and conflicts. Traditional microeconomic models focus on situations where property rights are well defined, and agents voluntarily trade rights over goods or produce rights for new goods. However, much less focus has been given to other situations where agents do not trade property rights, but rather fight over them. Contests: Theory and Applications presents a state-of-the art discussion of the economics of contests from the perspective of both core theory and applications. It provides a new approach to standard topics in labour, education, welfare and development and introduces areas like voting, industrial organisation, mechanism design, sport, and military conflict. Using elementary mathematics, this book provides a versatile framework for navigating this growing area of study and serves as an essential resource for its wide variety of applications in economics and political science.

Microeconomics for Managers
  • Principles and Applications
  • 4th edition
  • Richard B. McKenzie, D. Eric Schansberg, Dwight R. Lee
  • Published online:
    22 March 2024
    Print publication:
    28 March 2024
  • This fully updated fourth edition explores microeconomic concepts, with a distinctive emphasis on 'the economic way of thinking' and its applicability to sharp managerial thinking, productivity, and good decision-making. It stands apart due to its strong focus on practical and applied knowledge from the business context and its unique structure (Part I of each chapter develops key economic principles; Part II draws on those principles to discuss organizational and incentive issues in management, focusing on solving the 'principal-agent' problem to maximize the profitability of the firm). There are plentiful real-life scenarios and provocative examples in each chapter. Accessible to MBA students, other graduate students and undergraduates, it is ideal as a core text for courses in Managerial Economics. Requiring an understanding of only basic algebra, this new edition is more concise with a wealth of online resources, including additional online chapters and an online appendix with more advanced mathematical applications.

Dog Economics
  • Perspectives on Our Canine Relationships
  • David L. Weimer, Aidan R. Vining
  • Published online:
    11 January 2024
    Print publication:
    01 February 2024
  • Archaeologists, anthropologists, and evolutionary biologists study the origins of our relationship with dogs and how it has evolved over time. Sociologists and legal scholars study the roles of dogs in the modern family. Veterinarian researchers address the relationship in the context of professional practice, yet economists have produced scant scholarship on the relationship between humans and dogs. Dog Economics applies economic concepts to relationships between people and dogs to inform our understanding of their domestication. It interprets their contemporary role as both property and family members and explores factors that affect the demand for dogs as well as market failures of the American puppy market. Offering economic perspectives on our varied relationships with dogs, this book assesses mortality risks and addresses end-of-life issues that commonly arise. It develops a framework for classifying canine occupations, considers the impact of pet insurance on euthanasia, and assesses the social value of guide dogs.

The Economics of Art and Culture
  • 3rd edition
  • Karol J. Borowiecki, Charles M. Gray, James Heilbrun
  • Published online:
    24 November 2023
    Print publication:
    28 September 2023
  • Spanning the economics of the fine arts, performing arts, and public policy, this updated classic is the go-to resource for navigating today's creative industries. Building on real-world data, engaging case studies, and cutting-edge research, it prepares students for careers in the cultural, creative, and public sectors. By avoiding mathematical treatments and explaining theories with examples, this book develops theoretical concepts from scratch, making it accessible to readers with no background in economics. While most of the theory remains timeless, this new edition covers changes in the world's economic landscapes. Updates include new sections on gender representation, cultural districts and tourism, digital broadcasting and streaming, how technology impacts the arts, and arts management and strategy. The authors demonstrate data-driven decision-making using examples and cases from various databases. Students learn to assess academic results and apply the learned material using the discussion questions and problem sets.

Mighty Microeconomics
  • A Guide to Thinking Like An Economist
  • Michihiro Kandori
  • Published online:
    15 July 2023
    Print publication:
    06 July 2023
  • Economics helps us to understand that certain slick mechanisms are operating beyond what we see in our daily economic lives. To fully understand and appreciate these mechanisms, we need to master the core mathematical theories, some of which are highly advanced and typically covered in a graduate course. This textbook presents those theories without compromising rigor, but, at the same time, the author offers a number of innovative pedagogical twists that make the difficult materials completely accessible to undergraduate students, and even to general readers. Written in a chatty, colloquial style, the author explains basic messages and core insights that are usually hidden between the lines. The usefulness of these theories is shown through a number of real-life examples, and, in the end, the readers can see that the mathematical models provide deep insights into social justice and philosophy. This book helps readers to think like an economist.

Online and Matching-Based Market Design
  • Edited by Federico Echenique, Nicole Immorlica, Vijay V. Vazirani
  • Foreword by Alvin E. Roth
  • Published online:
    13 May 2023
    Print publication:
    22 June 2023
  • The rich, multi-faceted and multi-disciplinary field of matching-based market design is an active and important one due to its highly successful applications with economic and sociological impact. Its home is economics, but with intimate connections to algorithm design and operations research. With chapters contributed by over fifty top researchers from all three disciplines, this volume is unique in its breadth and depth, while still being a cohesive and unified picture of the field, suitable for the uninitiated as well as the expert. It explains the dominant ideas from computer science and economics underlying the most important results on market design and introduces the main algorithmic questions and combinatorial structures. Methodologies and applications from both the pre-Internet and post-Internet eras are covered in detail. Key chapters discuss the basic notions of efficiency, fairness and incentives, and the way market design seeks solutions guided by normative criteria borrowed from social choice theory.

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