Autodetermination in Microeconomics

Statistical microeconomics

A statistical generalization is made of microeconomics in the spirit of going from classical to statistical mechanics. The price and quantity of every commodity1 traded in the market, at each instant of time, is considered to be an independent random variable: all prices and quantities are considered to be stochastic processes, with the observed market prices being a random sample of the stocha...

Optimal Processes in Irreversible Microeconomics

SUMMARY In this paper we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factor using wealth function concept.

ESSAYS IN APPLIED MICROECONOMICS by

Three Essays in Applied Microeconomics

The Microeconomics of Insurance

In this relatively short survey, we present the core elements of the microeconomic analysis of insurance markets at a level suitable for senior undergraduate and graduate economics students. The aim of this analysis is to understand how insurance markets work, what their fundamental economic functions are, and how efficiently they may be expected to carry these out. Full text available at: http...