Managerial Economics

By William F. Samuelson and Stephen G. Marks

Book Overview

The right tools to guide real decisions When you're climbing a mountain, you have to carefully consider every step if you want to reach your goal. You need to know how your tools will actually perform on the mountain. It also helps to have a trusted guide who knows the way. The same holds true in today's highly competitive, global business environments. The decisions managers make are more complex and critical than ever before. You need to understand how to use economic analysis techniques to make real business decisions. When it comes to making real-life decisions based on sound economic analysis, there is no better guide than Samuelson and & Marks's Managerial Economics, 5th Edition. Featuring many detailed, real-world examples, as well as strong coverage of decision making under uncertainty, game theory, and international topics, this practical text equips you with the right tools you need to make smart decisions. New in the Fifth Edition * Updated and revised chapters on making decisions under uncertainty (Chapters 8 and 9). * New discussions of behavioral economics, including such issues as bounded rationality, sunk-cost fallacies, decision-making heuristics and biases, and the winner's curse. * Updated and expanded coverage of corporate incentives and governance. * Incorporates new developments in the areas of technological change, network economies, and internet economics. * Updated applications and revised end-of-chapter problems.

• Format: Hardcover
• Language: English
• ISBN: 047166362X
• ISBN13: 9780471663621
• Release Date: December 2005
• Publisher: Wiley
• Length: 891 Pages
• Weight: 3.50 lbs.
• Dimensions: 9.4" x 1.4" x 7.7"

Customer Reviews

Book Hurt Andrew's Brain

My "left brain" is severely underdeveloped (metaphorically speaking, anyway), and I usually don't "get" numbers. It's no surprise that some of this book went straight over my head, including the calculus and higher-level math. However, the problems presented here--including over 100 "real world" problems ripped straight from the headlines--were enough to keep me engaged. Like all good textbooks, if you invest the time you will be rewarded with not only a better understanding of the subject, but, perhaps, of the way our world works.

Managerial Economics Works

For those in Executive MBA programs, this is a terribly useful supporting text for any managerial economics programs. The authors are very aware of who their audience is -- all learning is in a managerial framework (as opposed to the dryer, more theoretical, straight economics textbooks).They cover the basics, but also do a great job on game theory and probablistic decision making. I had no economics before reading this, and found it clear and understandable even for the most abstruse concepts. Highly recommended.