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Traditional microeconomic theory has much to offer a manager. It suggests ways to increase profits by setting prices and packaging services, using advertising to increase demand and shows how internet auction sites like eBay affect competition and profitability. By using game theory to present and solve a manager’s decision-making problems and by focusing on the strategic nature of these problems, this text makes microeconomic theory much more intuitive and relevant for the business student.The text is separated into four sections:
This text investigates how traditional microeconomic theory can be applied as a practical tool for managers to optimize decision-making and profitability. Timothy C. G. Fisher, an expert in economic theory, utilizes game theory as a primary framework to bridge the gap between abstract economic models and real-world business strategy. By focusing on the strategic nature of managerial problems, the book provides a structured approach to pricing, advertising, and competitive analysis for the modern business student.
What You Will Find
Experts and educators frequently highlight this text for its ability to make dense microeconomic concepts intuitive through a strategic lens. Readers often note that the focus on game theory provides a clear, actionable methodology for students navigating modern business environments.
Page Count:
388
Publication Date:
2010-01-01
Publisher:
Routledge
ISBN-10:
0203857127
ISBN-13:
9780203857120
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