The analysis of this volume represents an attempt to apply modern mathematical techniques to the problems arising from large and significant indivisibilities. While the classical microeconomic theory refers to assumptions about the convexity of production sets and consumer preferences, this book...

Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium...

This book sheds new light on long-established concepts of microeconomic production theory and combines general theoretical analysis with references to management tools. It deals with concepts of microeconomic production theory, using the fund-flow model of Nicholas Georgescu-Roegen as a basic...

This book documents the use of methods that put a value on cultural goods, including theater, cultural events, museums, archeological sites, and libraries. The author sets forth the advantages and disadvantages of each method using case studies to illustrate how they work. Moreover, the...

Collects papers from Hugo Sonnenschein's students with the aim of demonstrating his impact as an advisor. Each paper in this work is accompanied with a preface by the student that provides background on the paper and indicates Hugo's influence on its genesis. All papers herin, lie in...

In this paper the outlier robust GMM panel data estimator recently proposed by Lucas, van Dijk, and Kloek (1994)is applied to an Euler equation model of firm investment behaviour with imperfectly competitive product markets for a small panel of German nonfinancial stock companies. Plots for...