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The Black-Scholes-Merton Model as an Idealization of Discrete-Time Economies (Paperback): David M. Kreps The Black-Scholes-Merton Model as an Idealization of Discrete-Time Economies (Paperback)
David M. Kreps
R654 Discovery Miles 6 540 Shipped within 7 - 12 working days

This book examines whether continuous-time models in frictionless financial economies can be well approximated by discrete-time models. It specifically looks to answer the question: in what sense and to what extent does the famous Black-Scholes-Merton (BSM) continuous-time model of financial markets idealize more realistic discrete-time models of those markets? While it is well known that the BSM model is an idealization of discrete-time economies where the stock price process is driven by a binomial random walk, it is less known that the BSM model idealizes discrete-time economies whose stock price process is driven by more general random walks. Starting with the basic foundations of discrete-time and continuous-time models, David M. Kreps takes the reader through to this important insight with the goal of lowering the entry barrier for many mainstream financial economists, thus bringing less-technical readers to a better understanding of the connections between BSM and nearby discrete-economies.

The Black-Scholes-Merton Model as an Idealization of Discrete-Time Economies (Hardcover): David M. Kreps The Black-Scholes-Merton Model as an Idealization of Discrete-Time Economies (Hardcover)
David M. Kreps
R1,992 R1,865 Discovery Miles 18 650 Save R127 (6%) Shipped within 7 - 12 working days

This book examines whether continuous-time models in frictionless financial economies can be well approximated by discrete-time models. It specifically looks to answer the question: in what sense and to what extent does the famous Black-Scholes-Merton (BSM) continuous-time model of financial markets idealize more realistic discrete-time models of those markets? While it is well known that the BSM model is an idealization of discrete-time economies where the stock price process is driven by a binomial random walk, it is less known that the BSM model idealizes discrete-time economies whose stock price process is driven by more general random walks. Starting with the basic foundations of discrete-time and continuous-time models, David M. Kreps takes the reader through to this important insight with the goal of lowering the entry barrier for many mainstream financial economists, thus bringing less-technical readers to a better understanding of the connections between BSM and nearby discrete-economies.

Microeconomic Foundations I - Choice and Competitive Markets (Hardcover): David M. Kreps Microeconomic Foundations I - Choice and Competitive Markets (Hardcover)
David M. Kreps
R988 R760 Discovery Miles 7 600 Save R228 (23%) Shipped within 7 - 12 working days

Microeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in first-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to take the reader from acquaintance with these foundational topics to something closer to mastery of the models and results connected to them. * Provides a rigorous treatment of some of the basic tools of economic modeling and reasoning, along with an assessment of the strengths and weaknesses of these tools * Complements standard texts * Covers choice, preference, and utility; structural properties of preferences and utility functions; basics of consumer demand; revealed preference and Afriat's Theorem; choice under uncertainty; dynamic choice; social choice and efficiency; competitive and profit-maximizing firms; expenditure minimization; demand theory (duality methods); producer and consumer surplus; aggregation; general equilibrium; efficiency and the core; GET, time, and uncertainty; and other topics * Features a free web-based student's guide, which gives solutions to approximately half the problems, and a limited-access instructor's manual, which provides solutions to the rest of the problems * Contains appendixes that review most of the specific mathematics employed in the book, including a from-first-principles treatment of dynamic programming

Strategic Human Resources - Frameworks for General Managers (Hardcover): James N. Baron, David M. Kreps Strategic Human Resources - Frameworks for General Managers (Hardcover)
James N. Baron, David M. Kreps
R3,387 Discovery Miles 33 870 Shipped within 7 - 12 working days

Human Resources are the most important resource that a firm commands and should be regarded as capital, a factor of production in which managers invest today in order to realize future profits. This book deals with the strategic implications of Human Resource Management as an important strategic asset and emphasizes its importance within the overall strategy of the firm. The book covers issues such as job design, evaluation, recruitment, training, career concern, and outsourcing and downsizing. The linkage between the various pieces of HRM policy are stressed and how the policies are related to management issues such as TQM, just-in-time manufacturing, and others. The book is aimed at the general manager, not the HRM practitioner and it stresses conceptual frameworks, not procedural methodology.

Microeconomics for Managers, 2nd Edition (Hardcover, 2nd edition): David M. Kreps Microeconomics for Managers, 2nd Edition (Hardcover, 2nd edition)
David M. Kreps
R807 R634 Discovery Miles 6 340 Save R173 (21%) Shipped within 7 - 12 working days

A thoroughly revised new edition of a leading textbook that equips MBA students with the powerful tools of economics This is a thoroughly revised and substantially streamlined new edition of a leading textbook that shows MBA students how understanding economics can help them make smarter and better-informed real-world management decisions. David Kreps, one of the world's most influential economists, has developed and refined Microeconomics for Managers over decades of teaching at Stanford's Graduate School of Business. Stressing game theory and strategic thinking and driven by in-depth, integrated case studies, the book shows future managers how economics can provide practical answers to critical business problems. Focuses on case studies and real companies, such as Amazon, Microsoft, General Motors, United Airlines, and Xerox Covers essential topics for future managers-including price discrimination, Porter's five forces, risk sharing and spreading, signaling and screening, credibility and reputation, and economics and organizational behavior Features an online supplement (available at micro4managers.stanford.edu) for students that provides solutions to the problems in the book, longer caselike exercises, review problems, a calculus review, and more

On Intertemporal Preferences in Continuous Time - The Case of Certainty (Paperback): Chi-fu Huang On Intertemporal Preferences in Continuous Time - The Case of Certainty (Paperback)
Chi-fu Huang; Created by Sloan School of Management; David M. Kreps
R195 Discovery Miles 1 950 Shipped within 7 - 11 working days
On Intertemporal Preferences in Continuous Time - The Case of Certainty (Hardcover): Chi-fu Huang On Intertemporal Preferences in Continuous Time - The Case of Certainty (Hardcover)
Chi-fu Huang; Created by Sloan School of Management; David M. Kreps
R471 Discovery Miles 4 710 Shipped within 7 - 11 working days
A Course in Microeconomic Theory (Hardcover, New): David M. Kreps A Course in Microeconomic Theory (Hardcover, New)
David M. Kreps
R2,987 Discovery Miles 29 870 Shipped within 7 - 11 working days

David M. Kreps has developed a text in microeconomics that is both challenging and "user-friendly." The work is designed for the first-year graduate microeconomic theory course and is accessible to advanced undergraduates as well. Placing unusual emphasis on modern noncooperative game theory, it provides the student and instructor with a unified treatment of modern microeconomic theory--one that stresses the behavior of the individual actor (consumer or firm) in various institutional settings. The author has taken special pains to explore the fundamental assumptions of the theories and techniques studied, pointing out both strengths and weaknesses.

The book begins with an exposition of the standard models of choice and the market, with extra attention paid to choice under uncertainty and dynamic choice. General and partial equilibrium approaches are blended, so that the student sees these approaches as points along a continuum. The work then turns to more modern developments. Readers are introduced to noncooperative game theory and shown how to model games and determine solution concepts. Models with incomplete information, the folk theorem and reputation, and bilateral bargaining are covered in depth. Information economics is explored next. A closing discussion concerns firms as organizations and gives readers a taste of transaction-cost economics.

On Intertemporal Preferences in Continuous Time - The Case of Certainty (Paperback): Chi-fu Huang On Intertemporal Preferences in Continuous Time - The Case of Certainty (Paperback)
Chi-fu Huang; Created by Sloan School of Management; David M. Kreps
R243 Discovery Miles 2 430 Shipped within 7 - 11 working days
On Intertemporal Preferences in Continuous Time - The Case of Certainty (Paperback): Chi-fu Huang On Intertemporal Preferences in Continuous Time - The Case of Certainty (Paperback)
Chi-fu Huang; Created by Sloan School of Management; David M. Kreps
R310 R248 Discovery Miles 2 480 Save R62 (20%) Shipped within 7 - 11 working days
On Intertemporal Preferences in Continuous Time - The Case of Certainty (Hardcover): Chi-fu Huang On Intertemporal Preferences in Continuous Time - The Case of Certainty (Hardcover)
Chi-fu Huang; Created by Sloan School of Management; David M. Kreps
R606 R467 Discovery Miles 4 670 Save R139 (23%) Shipped within 7 - 11 working days
Advances in Economics and Econometrics: Theory and Applications 3 Volume Paperback Set - Seventh World Congress (Multiple copy... Advances in Economics and Econometrics: Theory and Applications 3 Volume Paperback Set - Seventh World Congress (Multiple copy pack)
David M. Kreps, Kenneth F. Wallis
R1,584 R1,496 Discovery Miles 14 960 Save R88 (6%) Shipped within 7 - 12 working days

This three volume set contains papers presented at the Seventh World Congress of the Econometric Society. The first volume contains three papers presented at the Seventh World Congress of the Econometric Society which summarize and interpret key recent developments and discuss current and future directions in a wide range of topics in economics and econometrics. They cover both theory and applications. Authored by leading specialists in their fields, these volumes provide a unique survey of progress in the discipline. The second volume comprising three papers which examine the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline over the past five years. Written by the leading authorities in their fields, each paper provides a unique survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpful to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject. The third of three volumes contains papers presented at the Seventh World Congress of the Econometric Society. The papers summarize and interpret key recent developments and discuss current and future directions in a wide range of topics in economics and econometrics. They cover both theory and applications. Authored by leading specialists in their fields, these volumes provide a unique survey of progress in the discipline.

Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Paperback, Volume 3): David M. Kreps,... Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Paperback, Volume 3)
David M. Kreps, Kenneth F. Wallis
R826 Discovery Miles 8 260 Shipped within 7 - 11 working days

These books comprise papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline over the past five years. Written by the leading authorities in their fields, each paper provides a unique survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpul to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Hardcover, Volume 3): David M. Kreps,... Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Hardcover, Volume 3)
David M. Kreps, Kenneth F. Wallis
R2,008 Discovery Miles 20 080 Shipped within 7 - 12 working days

These books comprise papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline over the past five years. Written by the leading authorities in their fields, each paper provides a unique survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpul to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Paperback): David M. Kreps, Kenneth... Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Paperback)
David M. Kreps, Kenneth F. Wallis
R808 Discovery Miles 8 080 Shipped within 7 - 11 working days

The first volume of three, this text comprises papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline since 1990. Written by the leading authorities in their fields, each paper provides a survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpful to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Hardcover, Volume 2): David M. Kreps,... Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Hardcover, Volume 2)
David M. Kreps, Kenneth F. Wallis
R1,124 Discovery Miles 11 240 Out of stock

The second volume of three, this text comprises papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline since 1990. Written by the leading authorities in their fields, each paper provides a survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpful to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

On Intertemporal Preferences in Continuous Time - The Case of Certainty (Hardcover): David M. Kreps On Intertemporal Preferences in Continuous Time - The Case of Certainty (Hardcover)
David M. Kreps
R454 Discovery Miles 4 540 Out of stock
Advances in Economics and Econometrics, v. 1: Seventh World Congress (Hardcover, Volume 1): David M. Kreps, Kenneth F. Wallis Advances in Economics and Econometrics, v. 1: Seventh World Congress (Hardcover, Volume 1)
David M. Kreps, Kenneth F. Wallis
R1,482 Discovery Miles 14 820 Out of stock

These books comprise papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline over the past five years. Written by the leading authorities in their fields, each paper provides a unique survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpul to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

Advances in Economics and Econometrics: Theory and Applications 3 Volume Hardback Set - Seventh World Congress (Multiple copy... Advances in Economics and Econometrics: Theory and Applications 3 Volume Hardback Set - Seventh World Congress (Multiple copy pack)
David M. Kreps, Kenneth F. Wallis
R2,976 Discovery Miles 29 760 Out of stock

A three-volume set which comprises papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline since 1990. Written by the leading authorities in their fields, each paper provides a survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpful to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

Game Theory and Economic Modelling (Paperback, Reissue): David M. Kreps Game Theory and Economic Modelling (Paperback, Reissue)
David M. Kreps
R839 Discovery Miles 8 390 Out of stock

The advent of noncooperative game theory over the past two decades has brought about a mild revolution in economics. This book presents an accessible, non-technical discussion of the basic concepts from noncooperative theory, and explores the strengths, weaknesses, and future of the theory as a tool for economists.

Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Paperback, Volume 2): David M. Kreps,... Advances in Economics and Econometrics: Theory and Applications - Seventh World Congress (Paperback, Volume 2)
David M. Kreps, Kenneth F. Wallis
R844 Discovery Miles 8 440 Out of stock

These books comprise papers examining the latest developments in economic theory, applied economics and econometrics presented at the Seventh World Congress of the Econometric Society in Tokyo in August 1995. The topics were carefully selected to represent the most active fields in the discipline over the past five years. Written by the leading authorities in their fields, eac h paper provides a unique survey of the current state of knowledge in economics. Designed to make the material accessible to a general audience of economists, these volumes should be helpul to anyone with a good undergraduate training in economics who wishes to follow new ideas and tendencies in the subject.

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