Browsing by Author "Osborne, Martin J."

Now showing 1 - 3 of 3

Open Access
Models in Microeconomic Theory: Expanded Second Edition (He)
(Open Book Publishers, 2023-06-26) Osborne, Martin J.; Rubinstein, Ariel
Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
Open Access
Models in Microeconomic Theory: Expanded Second Edition (She)
(Open Book Publishers, 2023-06-26) Rubinstein, Ariel; Osborne, Martin J.
Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
Open Access
Models in Political Economy: Collective Choice, Voting, Elections, Bargaining, and Rebellion
(Open Book Publishers, 2025-09-12) Osborne, Martin J.
This volume explores topics that lie at the core of political economy: collective choice, voting, elections, bargaining, and rebellion. It presents the main formal models used to study the behavior of individuals and groups in political contexts, from choosing public policies and participating as voters and candidates in elections, to staging revolutions. Complete mathematical proofs are provided, to clarify the assumptions and deepen understanding. Part I presents models of collective choice. The main question is whether methods exist for selecting a reasonable compromise when individuals’ preferences differ. Models of voting are studied in Part II. Included are models in which the individuals differ in their preferences as well as ones in which they differ in their information. One chapter considers the implications of individuals having ethical concerns, and another studies a model of sequential voting. Models of electoral competition, under the assumption of various motivations for the candidates, are discussed in Part III. One chapter is devoted to the application of these models to the study of redistributive policy. The book concludes with Part IV, which covers models of bargaining and rebellion. The book offers a rigorous yet accessible foundation for understanding how formal tools can illuminate political phenomena.