This book presents the state of the art in the relatively new field of dynamic economic modelling with regime switches. The contributions, written by prominent scholars in the field, focus on dynamic decision problems with regime changes in underlying dynamics or objectives. Such changes can be...

This text introduces business and management students to economic concepts and shows economics students the skills needed in the world of business. Coverage includes: product differentiation; price discrimination; hiring and training workers; labour-management relations; and international trade

Reason, and the need to Be Rational, are essential dimensions of society and the organizations we live and work in. Yet the 'rationalization' of working processes, or the 'rationality' studied in social sciences, is all too often, used, understood, and interpreted in an extremely narrow sense....

Some people dwell alone, many in family-based households, and an adventuresome few in communes. The Household is the first book to systematically lay bare the internal dynamics of these and other home arrangements. Legal underpinnings, social considerations, and economic constraints all...

This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction formats, along with the seller’s strategic...