Textbook

Managerial Economics, 7th Edition

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Samuelson & Mark's Managerial Economics, 7th edition provides a detailed introduction to managerial economics for undergraduates, MBAs, and executives. Each chapter opens with a description of a managerial problem that challenges the reader and concludes by revisiting and analyzing the decision.

In addition to its inclusion of real-world applications and problems, the 7th Edition has been revised to incorporate up-to-date coverage of international topics and e-commerce. This new edition continues to offer the framework and economics tools necessary to prepare students for better decision-making in a future managerial role.

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Table of Contents

CHAPTER 1 Introduction to Economic Decision Making 1

SECTION I: Decisions within Firms 25

CHAPTER 2 Optimal Decisions Using Marginal Analysis 27

CHAPTER 3 Demand Analysis and Optimal Pricing 77

CHAPTER 4 Estimating and Forecasting Demand 128

CHAPTER 5 Production 190

CHAPTER 6 Cost Analysis 226

SECTION II: Competing within Markets 281

CHAPTER 7 Perfect Competition 283

CHAPTER 8 Monopoly 319

CHAPTER 9 Oligopoly 349

CHAPTER 10 Game Theory and Competitive Strategy 397

CHAPTER 11 Regulation, Public Goods, and Benefit-Cost Analysis 446

SECTION III: Decision-Making Applications 497

CHAPTER 12 Decision Making under Uncertainty 499

CHAPTER 13 The Value of Information 541

CHAPTER 14 Asymmetric Information and Organizational Design 581

CHAPTER 15 Bargaining and Negotiation 630

CHAPTER 16 Auctions and Competitive Bidding 668

CHAPTER 17 Linear Programming 707

Answers to Odd-Numbered Questions

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Index 751

New To This Edition

• New Discussions on Game Theory: Chapters apply the game-theoretic approach to settings of oligopoly (Chapter 11), asymmetric information and organization design (Chapter 14), negotiation (Chapter 15), and competitive bidding (Chapter 16).

• Decision making under uncertainty is a prominent part of Managerial Economics, 7e: Chapter 12 shows how decision trees can be used to structure decisions in high-risk environments. Chapter 13 examines the value of acquiring information about relevant risks, including optimal search strategies.

• Updated and Expanded Coverage of International Topics and Applications.

• New Application Feature: Business Behavior. The authors provide numerous assessments (based on cutting edge research findings) of real-world decision making behavior, noting the most common pitfalls to avoid.

• Updated applications. Applications and decision-making examples are central to this book. Many have been updated in this edition.

• Revised and Updated End-of-Chapter Problems.

Hallmark Features

• Extensive decision-making examples. These include:
o Pricing airline seats (Ch. 3)
o Producing auto parts (Ch. 5)
o Choosing between risky research and development projects (Ch. 12)

• Decision Making Under Uncertainty. Chapter 12 shows how decision trees can be used to structure decisions in high-risk environments. Chapter 13 examines the value of acquiring information about relevant risks, including optimal search strategies.

• Game Theory illuminates the firm's strategic choices. Game-theoretic principles are essential to understanding strategic behavior. An entire chapter (Chapter 10) is devoted to this topic.

• End-of-Chapter Spreadsheet Problems offer a powerful way of portraying economic decisions and finding optimal solutions. Spreadsheet problems are provided in 15 chapters.

• Real-world applications throughout the text.