Paper $18.00 ISBN: 9788024620244 Published September 2014 Not for sale in the Czech Republic and the Slovak Republic

Generalized Microeconomics

Jirí Hlavácek and Michal Hlavácek

Generalized Microeconomics
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Jirí Hlavácek and Michal Hlavácek

Distributed for Karolinum Press, Charles University

208 pages | 71 graphs, 7 tables | 6 3/4 x 9 1/2 | © 2013
Paper $18.00 ISBN: 9788024620244 Published September 2014 Not for sale in the Czech Republic and the Slovak Republic
The generalization of microeconomics enables model descriptions of economic rationality, even in fields that standard microeconomics more or less avoids, like nonprofit sectors of market economies, altruism, or externalities. Here, the authors broaden the scope of microeconomics while treating standard profit/umaximization as a special case. They argue, ultimately, that the generalizing criterion is a Darwinian maximization of the probability of survival.
Contents
Foreword
 
1. The Generalized Principle of Economic Rationality
 
2. Modelling Risk and Hedging Against It
 
3. Moral Hazard and Adverse Selection in the Context of Maximization of the Probability of Economic Survival
 
4. The Demand Function in the Insurance Market: Comparison of Maximization of the Pareto Probability of Survival with the Von Neumann-Morgenstern Eu Theory and Kahneman-Tversky Prospect Theory
 
5. Modelling Non-Profit Institutions: The University Supply Function
 
6. Behaviour of a Firm in a Centrally Planned Economy – The Homo Se Assecurans Model
 
7. Model of an Economy with Widespread Corporate Insolvency
 
8. The Producer’s Optimum Under Increasing Returns to Scale
 
9. Models of Market Allocation of Externalities, Generalized Coase Theorem
 
Altruism and Redistribution Increasing the Probability of Survival of Individuals
 
Conclusion
 
References
 
Name Index
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