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Managerial Economics: Theory, Applications, and Cases, 6th Edition, by W. Bruce Allen, Neil Doherty, Kieth Weigelt, Edwin Mansfield
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Through five editions, Managerial Economics has been among the leading texts in the field.
Maintaining its hallmark clarity, abundant use of real-world examples and cases, and strong coverage of international issues and technological change, the Sixth Edition has been rigorously updated and revised, adding six entirely new chapters and an innovative student Web site.- Sales Rank: #369628 in Books
- Published on: 2005-01-07
- Original language: English
- Number of items: 1
- Dimensions: 9.60" h x 1.60" w x 7.40" l,
- Binding: Hardcover
- 944 pages
About the Author
W. Bruce Allen (Ph.D., Economics, Northwestern University) is Professor of Business and Public Policy at the Wharton School of Business, the University of Pennsylvania. For many years he was the Vice Dean and Director of the Wharton Graduate Division. He is an internationally recognized expert in transportation economics, and he specializes in demand theory and logistics. In addition to his duties at Wharton, Professor Allen teaches each summer in India and consults for numerous companies domestically and abroad. He has won a number of teaching awards, including the coveted Anvil Award, the highest teaching honor at Wharton since it is voted on by the students.
Neil A. Doherty (Ph.D. Cranfield Institute) is the Frederick H. Ecker Professor of Insurance and Risk Management at the Wharton School of Business, the University of Pennsylvania. He is an internationally recognized expert in corporate risk management, and is the author of Integrated Risk Management (McGraw-Hill, 2000). Professor Doherty has also won numerous teaching awards.
The late Edwin Mansfield was for many years a distinguished professor of economics at the University of Pennsylvania. He was an internationally recognized expert in the economics of technology and industrial organization. His numerous texts, all published by W.W. Norton, have sold millions of copies around the world. In 1979, when Sino-American scientific agreements were finally reached, Mansfield was the first American economist to lecture in the People's Republic of China.
Keith Weigelt (Ph.D., Economics, Northwestern University) is the Rebecca and Morris Marks Professor of Management at the Wharton School of Business, the University of Pennsylvania. He is an internationally recognized expert in business strategy, game theory, and tournaments, with articles published in the following leading journals: Journal of Political Economy, Econometrica, American Economic Review, Quarterly Journal of Economics, Journal of Business, and Management Science. Professor Weigelt has won numerous teaching awards, most recently the Undergraduate Division Excellence in Teaching Award and the “Tough, but I will thank you in 5 years” Award.
Most helpful customer reviews
7 of 7 people found the following review helpful.
A significant improvement
By Ken Savage
I reviewed the 5th edition of this book and thought it was good. This sixth edition is significantly better and in my view is the top book in managerial economics. The authors are from the Wharton School of Business, one of the top ranked business schools in the world. They have designed the book to show the reader how to apply various concepts to real world applications.
In this edition, the authors have completely revised the chapters on pricing. The book covers both simple and sophisticated pricing models. The chapter on sophisticated pricing models (e.g., two part tariffs, bundling, price discrimination) is terrific and useful to both students and managers.
Other improvements include a brand new chapter on game theory and a new chapter on adverse selection. The chapter on game theory is well written and clearly illustrates important strategic principles. I tip my hat to the authors for providing the reader with a clear understanding of how the theory works and why it is important. The chapter on adverse selection is also well written.
I have looked at several books because I am trying to choose one for the course I teach. After reading this book I look no more. This is the best book for those who really want to understand how to use economics in the business world.
6 of 6 people found the following review helpful.
A new age economics book
By Economics book reviewer
This book is leaps and bounds more impressive than most managerial economics books. The newest concepts in economics like auctions, moral hazard, sophisticated pricing and adverse selection are given full chapter treatments. Not only do the authors clearly explain these concepts, but they show how they are applied in the business world.
I was also impressed with their revised game theory chapter. Instead of the usual dry mathematical treatment, the chapter uses game theory to illustrate the importance of strategic principles. I found the chapter more helpful than any other treatment on game theory.
The authors are professors at The Wharton School and use the book in their class. I can see why Wharton is a top ranked business school. Their students definitely have an advantage in learning from this book.
2 of 2 people found the following review helpful.
hip business economics
By HipMBA
This is not your average dry and boring managerial economics book. The writing is great, it covers all the major topics, and there are plenty of real life applications. THIS BOOK ROCKS.
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