Producers, Consumers, and Partial Equilibrium - Softcover

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Professor of Economics at the University of Missouri, David Mandy received his Ph.D. from the University of Illinois. He has published in Econometrica, Journal of Economic Theory, Journal of Econometrics, International Economic Review, Economica, Economics Letters, the International Journal of Industrial Organization, and the Journal of Regulatory Economics.

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Producers, Consumers, and Partial Equilibrium provides a systematic and accessible presentation of the full formal details in the core theories of producer and consumer choice under conditions of price taking; and covers the standard theories of competitive, monopoly, and oligopoly partial equilibrium among these economic actors. The book pulls together foundational content from many classic sources and organizes it in a self-contained format that rigidly adheres to optimization as the central behavioral postulate and analytical tool for economic theory.

The book maintains a sharp focus on the properties of outcomes from optimizing behavior in varying environments. These properties are the refutable hypotheses from each optimization behavioral postulate, and they form the core content of this positive economic theory. In so doing, the book presents and documents the underlying formal structure of the theory with a higher degree of integration and completeness than is typical of Ph.D. textbooks in microeconomics.