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Book Details

  • Hardcover
  • Bookstore's Wholesale Price: $153.00
  • September 2012
  • ISBN: 978-0-393-91277-7
  • 736 pages
  • Territory Rights: Worldwide

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  1. Economics

Managerial Economics

Theory, Applications, and Cases

Eighth Edition


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W. Bruce Allen (Author, Wharton School of Business), Keith Weigelt (Author, Wharton School of Business), Neil A. Doherty (Author, Wharton School of Business), Edwin Mansfield (Author, late of University of Pennsylvania)


Thoroughly updated to reflect the post-crisis, global, and digital economy.

Modernized for the 21st century, the Eighth Edition emphasizes strategic thinking by managers and includes over 50 new case studies on events from 2010 to 2012 that prepare students for today’s changing economy.


Reflective of today’s constantly evolving business environment

A wealth of updated case studies introduce students to today’s economy. New or updated case studies include the Roles of the Chief Innovation Officer; Water Shortage Problems in China; Apple, iPads, and Monopoly; and Netflix and Bundling/Unbundling. Revisions to the coverage of consumer theory, producer theory, market structure, and pricing, as well as chapters on game theory, auctions, risk analysis, principle–agent issues, and adverse selection are relevant to today’s business climate.  

Introduces students to strategic thinking

The authors weave their experience as business strategists throughout the book, ensuring that students a tangible focus on strategic thinking. 

An emphasis on problem solving

Managerial Economics has more solved problems than any competing text. These “Problem Solved” exercises relate directly to real-world business decisions and prepare students to tackle end of chapter and exam questions. 

    Table of Contents

    Part 1: The Need for A Guide
    Chapter 1: Introduction

    Part 2: The Nature of Markets
    Chapter 2: Demand Theory
    Chapter 3: Consumer Behavior and Rational Choice
    Chapter 4: Estimating Demand Functions

    Part 3: Production and Cost
    Chapter 5: Production Theory
    Chapter 6: The Analysis Of Costs

    Part 4: Market Structure and Simple Pricing Strategies
    Chapter 7: Perfect Competition
    Chapter 8: Monopoly and Monopolistic Competition

    Part 5: Sophisticated Market Pricing

    Chapter 9: Managerial Use of Price Discrimination
    Chapter 10: Bundling and Intrafirm Pricing

    Part 6: The Strategic World of Managers

    Chapter 11: Oligopoly
    Chapter 12: Game Theory
    Chapter 13: Auctions

    Part 7: Risk, Uncertainty, and Incentives
    Chapter 14: Risk Analysis
    Chapter 15: Principal–Agent Issues and Managerial Compensation
    Chapter 16: Adverse Selection

    Part 8: Government Action and Managerial Behavior
    Chapter 17: Government and Business
    Chapter 18: Optimization Techniques

    Appendix A: Technological Change and Industrial Innovation
    Appendix B: Business and Economic Forecasting
    Appendix C: Discounting and Present Values
    Appendix D: Answers to Select End-of-Chapter Problems
    Appendix E: Tables