{"product_id":"microeconomics-competition-conflict-and-coordination","title":"Microeconomics Competition, Conflict, and Coordination","description":"\u003cp\u003eBowles and Halliday capture the intellectual excitement, analytical precision, and policy relevance of the new microeconomics that has emerged over the past decades. Drawing on themes of the classical economists from Smith through Marx and 20th century writers - including Hayek, Coase, and Arrow - the authors use twenty-first century analytical methods to address enduring challenges in economics.    The subtitle of the work -\n\u003cbr\u003eCompetition, conflict, and coordination - signals their focus on how the institutions of a modern capitalist economy work, introducing students to recent developments in the microeconomics of credit and labor\n\u003cbr\u003emarkets with asymmetric information, a dynamic analysis of how firms compete going beyond price taking, as well as bargaining over the gains from exchange, social norms, and the exercise of power.    The new benchmark model proposed by Bowles and Halliday is based on an empirical approach to economic actors and problems. They start from the premise that contracts are incomplete, and that as a result market failures, rather than being a special case illustrated by\n\u003cbr\u003eenvironmental spillovers, are to be expected in markets for labor, credit, knowledge and throughout the economy.  They explain how experiments show that human motivations include ethical as well as\n\u003cbr\u003eother-regarding preferences (rather than entirely self-interested) and explain why the technologies of knowledge-based economies are a source of winner-take-all rather than stable competition. The authors also consider the intrinsic limits of mechanism design and governmental interventions in the economy.  Teaching recent developments in microeconomic theory allows the authors to provide students with the tools to analyze and engage in informed debate on the issues that\n\u003cbr\u003econcern them most: climate change, inequality, innovation, and epidemic spread.  Tradeoffs are highlighted by providing models in which capitalism can be seen as an \"innovation machine\" that raises\n\u003cbr\u003ematerial living standards on average, while at the same time sustaining levels of inequality that many find to be unfair.    Digital formats and resources This title is available for students and institutions to purchase in a variety of formats and is supported by online resources.   The e-book offers a mobile experience and convenient access along with self-assessment activities, video content, and links\n\u003cbr\u003ethat offer extra learning support. For more information visit: www.oxfordtextbooks.co.uk\/ebooks\/   Drawing on the authors' decades of teaching the new microeconomics, this title is supported by a range\n\u003cbr\u003eof online resource for students and lecturers including multiple-choice-questions with instant feedback, interactive graphing features, walkthrough videos illuminating core concepts, further mathematical and discussion-based questions, a fully customizable test bank for lecturer use, PowerPoint slides to accompany each chapter, worksheets that can be assigned to the class, and answers to the problems set in the book.\u003c\/p\u003e","brand":"Oxford University Press","offers":[{"title":"Default Title","offer_id":44056594481390,"sku":"9780198843207","price":106.47,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/9612\/7726\/files\/9780198843207.jpg?v=1706233262","url":"https:\/\/bookland.com.au\/products\/microeconomics-competition-conflict-and-coordination","provider":"Book Land AU","version":"1.0","type":"link"}