About Choice
in Logic of Choice and Economic Theory
November 1987; published online November 2003.
Chapter. Subjects: microeconomics. 10237 words.
The chapter is concerned with the generalities of choice and the optimum. Its eight sections are: forming a choice; demand as choice; choice functions; the optimum; optimal choice functions; revealed...
Accounting for Tastes
in Playing for Real
February 2007; published online May 2007.
Chapter. Subjects: microeconomics. 14182 words.
This chapter explains the meaning of the payoffs that are used to quantify the outcomes of games. The theory of revealed preference assumes only that players are consistent. With appropriate...
Adaptive Custom
in On Custom in the Economy
March 1998; published online November 2003.
Chapter. Subjects: microeconomics. 4288 words.
Because custom is only vaguely defined with respect to its scope and content, this gives rise to the problem of erosion: people will bend the rules of custom in ambiguous cases by slightly...
Adding Value
in Foundations of Corporate Success
April 1995; published online November 2003.
Chapter. Subjects: microeconomics. 4017 words.
Using the example of six British supermarket chains, different measures of corporate performance are evaluated while their strengths and weaknesses are discussed. Added value is identified as the...
Adding Value
in The Business of Economics
October 1996; published online November 2003.
Chapter. Subjects: microeconomics. 1765 words.
This chapter describes financial relationships between competitive advantage, economic rent, added value, and various other measures of firm performance.
Adjusted Estimates of Worker Flows and Job Openings in JOLTS
in Labor in the New Economy
November 2010; published online February 2013.
Chapter. Subjects: microeconomics. 12670 words.
This chapter focuses on the Job Openings and Labor Turnover Survey (JOLTS) for estimation of worker flows and job openings in the U.S. labor market. JOLTS data are mentioned to be a...
Advertising and Branding
in Foundations of Corporate Success
April 1995; published online November 2003.
Chapter. Subjects: microeconomics. 5806 words.
Advertising and branding are recognized as important tools of competitive strategy. The main value of advertising rests on its demonstration of the suppliers’ continued commitment to the market....
Affiliated Values
in An Introduction to Auction Theory
November 2004; published online April 2005.
Chapter. Subjects: microeconomics. 8611 words.
This chapter presents the notion of affiliation and analyses its implications for equilibrium bidding functions and revenue. The notion of affiliation in a general multivariate context, and how...
Agglomeration Economics
April 2010; published online February 2013.
Book. Subjects: microeconomics. 374 pages.
When firms and people are located near each other in cities and in industrial clusters, they benefit in various ways, including by reducing the costs of exchanging goods and ideas. One...
The Agglomeration of U.S. Ethnic Inventors
in Agglomeration Economics
April 2010; published online February 2013.
Chapter. Subjects: microeconomics. 14855 words.
Econometric studies quantifying the role of ethnic scientists and engineers for technology formation and diffusion are often hampered by data constraints. It is very difficult to assemble...