Product Description

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.

Product Details

• Amazon Sales Rank: #16618 in Books
• Published on: 2005-12-16
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 891 pages

From the Back Cover
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.

About the Author
William F. Samuelson is professor of economics and finance at Boston University School of Management. He received his B.A. and Ph.D. from Harvard University. His research interests include game theory, decision theory, bidding, bargaining, and experimental economics. He has published a variety of articles in leading economics and management science journals including The American Economic Review, the Quarterly Journal of Economics, Econometrica, the Journal of Finance, Management Science, and Operations Research. His teaching and research have been sponsored by the National Science Foundation and the National Institute for Dispute resolution, among others. He is currently on the editorial boards of the Journal of Economic Behavior and Organization and Group Decision and Negotiation.

Stephen G. Marks is associate professor of law at Boston University. He received his J.D., M.A., and Ph.D. from the University of California-Berkeley. He has taught in the areas of managerial economics, finance, corporate law, and securities regulation. his research interests include corporate governance, law and economics, finance, and information theory. He has published his research in various law reviews and in such journals as the American Economic Review, The Journal of Legal Studies, and The Journal of Financial and Quantitative Analysis.

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 Econ
It took entirely too long for me to receive this product. I ordered it on May 14 and it did not arrive until June 13. I contacted the seller on June 6, which was the latest date it was supposed to arrive but he said it was returned to him, and was not proactive about letting me know that it was returned. In general I do not understand why the estimated shipment window was 3 weeks long (it took 4 weeks for me to actually get it). The course I'm taking that required this book is only 7 weeks, so over half of it was completed by the time it arrived.