Managerial Economics: Theory, Applications, and Cases

Thoroughly updated to reflect the post-crisis, global, and digital economy.

Summary

The book is structured to teach students how to use economic analysis to solve management problems. It covers a wide range of topics, including:

• Demand analysis and estimation

• Production and cost analysis

   

• Market structure and pricing strategies

   

• Game theory

   

• Risk and uncertainty

   

The text is known for its clear explanations and integration of real-world business cases, which help students understand how theoretical concepts are applied in practice.

About the Authors

• W. Bruce Allen: A professor of economics and transportation at the Wharton School of the University of Pennsylvania.

• Keith Weigelt: A professor of management at the Wharton School of the University of Pennsylvania, specializing in corporate strategy and game theory.

• Neil A. Doherty: A professor of insurance and risk management at the Wharton School of the University of Pennsylvania.

• Edwin Mansfield (1930–1997): A prominent economist and professor at the University of Pennsylvania. He was a leading authority on the economics of technological change and had written several other influential textbooks on microeconomics and managerial economics.