Practice Exercises for Advanced Microeconomic Theory
by Muñoz-Garcia
ISBN: 9780262364270 | Copyright 2017
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| Contents (pg. v) | |
| Preface (pg. ix) | |
| Chapter 1 - Preferences and Utility (pg. 1) | |
| Exercise #1 - Checking properties of preference relations - I (pg. 1) | |
| Exercise #3 - Monotonicity and strong monotonicity (pg. 15) | |
| Exercise #5 - Convex preferences (pg. 16) | |
| Exercise #7 - Monotonic transformations - I (pg. 17) | |
| Exercise #9 - Lexicographic preference relation (pg. 18) | |
| Exercise #11 - WARP and rationality (pg. 22) | |
| Exercise #13 - Lexicographic preference and WARP (pg. 23) | |
| Exercise #15 - Homogeneity and addition (pg. 24) | |
| Exercise #17 - Quasi-hyperbolic discounting (pg. 24) | |
| Chapter 2 - Demand Theory (pg. 29) | |
| Exercise #1 - Finding Walrasian demands - I (pg. 29) | |
| Exercise #3 - Finding Walrasian demand for the CES utility function (pg. 35) | |
| Exercise #5 - Checking WARP (pg. 36) | |
| Exercise #7 - WARP for undergrads - II (pg. 41) | |
| Exercise #9 - An introduction to income and substitution effect with a quasi-linear utility function (pg. 42) | |
| Exercise #11 - Relationship between WARP and CLD (pg. 45) | |
| Exercise #13 - Quasi-linear preferences (pg. 47) | |
| Exercise #15 - CES utility function (pg. 49) | |
| Exercise #17 - Concavity of the support function (pg. 51) | |
| Exercise #19 - Separable utility function (pg. 52) | |
| Exercise #21 - Stone-Geary utility function with three goods (pg. 53) | |
| Exercise #23 - Properties of the expenditure function (pg. 55) | |
| Exercise #25 - Duality: equivalence between the UMP and EMP (pg. 57) | |
| Exercise #27 - Compensated (Hicksian) elasticities (pg. 58) | |
| Chapter 3 - Applications of Demand Theory (pg. 61) | |
| Exercise #1 - Taxes versus subsidies (pg. 61) | |
| Exercise #3 - Compensating and equivalent variation (pg. 66) | |
| Exercise #5 - Welfare measures with a quasi-linear utility (pg. 70) | |
| Exercise #7 - Consumer theory and welfare (pg. 73) | |
| Exercise #9 - Using the compensating variation to identify price changes (pg. 78) | |
| Exercise #11 - Finding the compensating and equivalent variation with little information (pg. 80) | |
| Exercise #13 - Consumer and producer theory within the household (pg. 81) | |
| Exercise #15 - Aggregation: properties of the social welfare function (pg. 84) | |
| Exercise #17 - Gorman form for vi(piwi) (pg. 87) | |
| Exercise #19 - Aggregate demand (pg. 89) | |
| Chapter 4 - Production Theory (pg. 91) | |
| Exercise #1 - Properties of a standard production function (pg. 91) | |
| Exercise #3 - Increasing average product (pg. 95) | |
| Exercise #5 - Average and marginal product - II (pg. 96) | |
| Exercise #7 - Law of supply (pg. 97) | |
| Exercise #9 - Shephard's lemma (pg. 97) | |
| Exercise #11 - CES production function (pg. 98) | |
| Exercise #13 - Output distribution between two plants (pg. 100) | |
| Exercise #15 - Comparing two technologies (pg. 104) | |
| Chapter 5 - Choice under Uncertainty (pg. 109) | |
| Exercise #1 - Independence axiom (pg. 109) | |
| Exercise #3 - von Neumann-Morgenstern utility function (pg. 110) | |
| Exercise #5 - Regret theory (pg. 112) | |
| Exercise #7 - An introductory example on risk aversion (pg. 114) | |
| Exercise #9 - Hyperbolic absolute risk aversion, HARA (pg. 116) | |
| Exercise #11 - Investing in two different assets (pg. 118) | |
| Exercise #13 - Second-order stochastic dominance (pg. 120) | |
| Exercise #15 - Coecient of risk aversion (pg. 121) | |
| Exercise #17 - Non constant coecient of absolute risk aversion (pg. 121) | |
| Exercise #19 - Coecient of absolute risk aversion and concave transformations (pg. 123) | |
| Exercise #21 - Risk aversion (pg. 124) | |
| Exercise #23 - Uncertainty about the future (pg. 126) | |
| Exercise #25 - Uncertainty in production decisions (pg. 129) | |
| Chapter 6 - Partial and General Equilibrium (pg. 133) | |
| Exercise #1 - Equilibrium number of firms in perfectly competitive markets (pg. 133) | |
| Exercise #3 - Per unit taxes versus ad valorem taxes (pg. 135) | |
| Exercise #5 - Perfect competition with heterogeneous goods (pg. 137) | |
| Exercise #7 - Finding offer curves for different preferences (pg. 138) | |
| Exercise #9 - Pure exchange economy (pg. 140) | |
| Exercise #11 - Gross substitutability and uniqueness of equilibrium (pg. 144) | |
| Exercise #13 - Pareto allocations with externalities (pg. 145) | |
| Exercise #15 - When goods are bads (pg. 147) | |
| Exercise #17 - Excess demand in Cobb-Douglas preferences (pg. 152) | |
| Exercise #19 - Excess demand functions: homogeneity and Walras' law (pg. 154) | |
| Exercise #21 - Production economy (pg. 156) | |
| Exercise #23 - Pareto and efficient allocations in the household (pg. 160) | |
| Exercise #25 - Effect of distortionary taxes (pg. 165) | |
| Chapter 7 - Monopoly (pg. 171) | |
| Exercise #1 - Monopoly with linear inverse demand (pg. 171) | |
| Exercise #3 - Subsidies to monopolists (pg. 172) | |
| Exercise #5 - Monopoly with durable goods: leasing versus selling (pg. 173) | |
| Exercise #7 - Second-degree price discrimination (pg. 177) | |
| Exercise #9 - Cost reducing investment (pg. 179) | |
| Exercise #11 - Monopolist with intertemporal network effects (pg. 183) | |
| Chapter 8 - Game Theory and Imperfect Competition (pg. 189) | |
| Exercise #1 - A unique strategy profile that surviving IDSDS must also be NE (pg. 190) | |
| Exercise #3 - Deletion order in IDSDS (pg. 190) | |
| Exercise #5 - Equilibrium predictions from IDSDS versus IDWDS (pg. 191) | |
| Exercise #7 - Four categories of simultaneous-move games (pg. 193) | |
| Exercise #9 - Bayesian Nash equilibrium in the workplace (pg. 196) | |
| Exercise #11 - Cournot with equity swaps (pg. 198) | |
| Exercise #13 - Cournot competition with product differentiation (Deneckere 1983) (pg. 201) | |
| Exercise #15 - Antitrust efforts and collusion (pg. 204) | |
| Exercise #17 - Profitable and unprofitable mergers (pg. 205) | |
| Exercise #19 - Fixed costs and discontinuities (pg. 207) | |
| Exercise #21 - Strategic managerial incentives (pg. 210) | |
| Exercise #23 - Fixed costs with collusion (Bernheim and Whinston 1990) (pg. 213) | |
| Exercise #25 - Cournot game revisited (pg. 214) | |
| Exercise #27 - Collusion with temporary reversion (pg. 216) | |
| Exercise #29 - Impure forms of cooperation (pg. 217) | |
| Chapter 9 - Externalities and Public Goods (pg. 219) | |
| Exercise #1 - Externalities and car accidents (pg. 220) | |
| Exercise #3 - Positive and negative externalities (pg. 224) | |
| Exercise #5 - Regulating externalities under incomplete information (pg. 226) | |
| Exercise #7 - Entry in the commons (pg. 232) | |
| Exercise #9 - Voluntary contributions to a public good with Cobb-Douglas preferences (pg. 234) | |
| Exercise #11 - Externalities in consumption (pg. 237) | |
| Exercise #13 - Reference points in public good games (pg. 240) | |
| Exercise #15 - Adding regulation to the Salant et al. (1984) model (pg. 242) | |
| Chapter 10 - Contract Theory (pg. 247) | |
| Exercise #1 - Moral hazard (pg. 247) | |
| Exercise #3 - Moral hazard|continuous probabilities (pg. 252) | |
| Exercise #5 - Moral hazard with two periods (Hopenhayn and Nicolini 1997) (pg. 254) | |
| Exercise #7 - Moral hazard under linear contracts (pg. 257) | |
| Exercise #9 - Moral hazard in teams (Holmstrom 1982) (pg. 260) | |
| Exercise #11 - Solving the lemons problem by offering quality certificates (pg. 263) | |
| Exercise #13 - Principal-agent problem (pg. 269) | |
| Exercise #15 - A special type of principal-agent problem (pg. 272) | |
| Exercise #17 - Screening-monopoly pricing (pg. 273) | |
| Exercise #19 - Screening two types of customers (pg. 279) | |
| Exercise #21 - Efficiency wages and the principal-agent problem (Shapiro and Stiglitz 1984) (pg. 283) | |
| References (pg. 285) | |
Felix Muñoz-Garcia
Felix Muñoz-Garcia is Associate Professor on the School of Economic Sciences at Washington State University.
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