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. Skip to main content. The Experience Overview of Experience.

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Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? It is difficult to imagine a student, or scholar, who would not gain from this masterful treatment. Crawford, University of Oxford. David Kreps's creative contributions to finance, game theory, and decision theory have transformed those fields, and this book reveals part of his technology: a deep understanding of the foundations of modern microeconomics.

If you want to improve or revolutionize economics, you must first master the foundations. This book--and a lot of hard work--will help you get there. Sargent, Nobel Laureate in Economics. Most importantly, it presents the material not as a complete theory to be learned, but as a work in progress, waiting to be improved upon by the generation that has just arrived.

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.

Read more Read less. Frequently bought together. Add all three to Cart. These items are shipped from and sold by different sellers. Show details. Ships from and sold by Amazon SG. FREE Delivery. Ships from and sold by Amazon US. Customers who viewed this item also viewed. Page 1 of 1 Start over Page 1 of 1. Previous page. Microeconomic Theory. Chicago Price Theory. A Course in Microeconomic Theory. Microeconomic Analysis. Intermediate Microeconomics: A Modern Approach.

Jeffrey M. Next page. Review "Kreps's new textbook fills an important gap by presenting microeconomics for graduate students in a way that is insightful, clear, and rigorous. This book-and a lot of hard work-will help you get there. Sargent, Nobel Laureate in Economics "Kreps sets out the theories of individual choice and competitive markets precisely yet readably, even entertainingly, while anticipating and carefully answering many of the questions of interpretation and motivation that even the best texts seldom fully answer.

Crawford, University of Oxford "This book is a gold mine for students--or teachers--who wish to learn the foundations of modern economics. Sargent, Nobel Laureate in Economics "Kreps's new textbook fills an important gap by presenting microeconomics for graduate students in a way that is insightful, clear, and rigorous.

From the Back Cover "Kreps sets out the theories of individual choice and competitive markets precisely yet readably, even entertainingly, while anticipating and carefully answering many of the questions of interpretation and motivation that even the best texts seldom fully answer. David M. Read more. Customers who bought this item also bought.

Green,Michael D. Game Theory. Game Theory for Applied Economists. Mathematical Methods and Models for Economists. No customer reviews. How does Amazon calculate star ratings? The machine learned model takes into account factors including: the age of a review, helpfulness votes by customers and whether the reviews are from verified purchases. Review this product Share your thoughts with other customers.

Write a customer review. Most helpful customer reviews on Amazon. Verified Purchase. Disclaimer: My English usage is quite bad. I apologize in advanced to every review's readers I've read some of canonical textbooks in this fields such as MWG, Varian Microeconomic Analysis , Kreps, Jehle and Reny since I'm TA in undergraduate advanced microeconomic theory course and one of my interested research topics is consumer theory.

In my opinion, as I'm also master degree student in mathematics, expositions in Kreps and MWG are quite rigorous and the author illustrate every notions with full of elegance, though Kreps uses more rigorous approach to teach students "graduate level microeconomics". While a bit less rigour, MWG looks like encyclopedia for microeconomics since its coverage is quite wide.

MWG has contents from consumer theory, production theory, partial and general equilibrium, core of equilibrium and Tatonement, game theory, a glimpses on information economics and mechanism design. Kreps, in opposite style, covers only around one third of MWG consumer and production theory, aggregation and general equilibrium but in more detailed and more rigorous IMHO, maybe the same level to research papers in this field.

I prefer Kreps to MWG because I think that good textbook need not to be encyclopedia, but it should discuss in-depth for only some single topic and Kreps is the textbook in the latter style. Both of them have well written math appendices but Kreps has more completed one.

Jehle and reny, as I think the expositions in this book is in the same rigour level to Varian, is much more better than Varian since it didn't try to avoid mathematics usage when it should be applied. Jehle and Reny's book uses only undergraduate level mathematical economics to derive almost all of results except they use Brouwer's fixed point theory to prove the existence of Nash Equilibrium, but it's just an infinitesimal part of the book which can be skipped in the advanced undergraduate and beginning graduate courses.

Moreover, it contains plenty of challenging exercises which some are on par to B-C level MWG's exercises. Lastly, Varian has many shortcoming in my point of view. The organization of the contents in Varian is unnatural for me since its first chapter is production.

My conjecture for the reason maybe starting with production is easier. The theory on production has less things to concern than consumer side, modern consumer theory bases on more axiomatic construction than production theory.

Moreover, although using mathematics in the same level to Jehle and Reny, Varian tries to oversimplify everything and this makes the taste of the subject change drastically. Something should be discussed more rigorously while this mayn't always mean it need much more sophisticated math notions but Varian choose to treat it as a black box. Some people may argue that Varian can be the best one since it doesn't require solid math background to prove and understand the results therein, but I don't even think this can be one of my criteria for review textbook in this level.

Basic set theory not need to be axiomatic, i. ZFC set theory and basic real analysis in the level of babyrudin as mandatory background, the familiarity in measure theory and basic functional analysis are plus should be background for everyone who want to study graduate school in economics, especially Ph.

The purpose of Ph. D program in economics is to produce researchers who have solid understanding economics in an acceptable level of rigour. Hence, frankly speaking, I don't think Varian is in the level of graduate course Jehle and Reny is almost the same level to Varian, but it has more rigorous treatment and good exercises.

MWG and Kreps assume reasonable math backgrounds and are in the right place for graduate level studying at all. David Kreps' "Microeconomic Foundations I: Choice and Competitive Markets" is intended to be a mathematical treatment of the topics of most first-year PhD Microeconomics theory courses.

The book covers numerous fundamental ideas and ends with several chapters on general equilibrium theory, especially as described by Walras, Debreu, and Arrow. The ideas in this book are not limited to just a few theorists, however, and all sources are carefully included in the thorough bibliography. Within each chapter are intuitive explanations of the ideas of the chapter, formal proofs of the propositions, a descriptive bibliography, and some exercises.

This book has some advantages over other first-year texts. The cost of this book is about one-third of that of other first-year microeconomics textbooks see Mas-Colell's "Microeconomic Theory" for comparison. This book is more rigorous mathematically and relies on an axiom-definition-proposition model for explaining ideas. The appendix of this book is particularly useful; in it are rigorous explanations of mathematical concepts like induction, basic topology, convexity, correspondences, Berge's Theorem, constrained optimization, dynamic programming, and fixed-point theorems.

Most first-year graduate students will end up using the textbooks assigned by their professors, so this advice is aimed towards professors of economics. I recommend this book because it is more focused than Mas-Colell, it is a lot less expensive for poor graduate students, and it uses a high level of mathematical rigor that is useful for graduate students who want to read papers in microeconomic theory.

As a PhD student I've found this book superb. Most of readers have probably reached this book in looking for a MWG substitute and let me tell you your research has ended. I was trained using MWG and three key differences must be noticed. First of all, this book is more structured since it follows the axiomatic approach that Kreps tend to use in all his books. Everything is linked and approached with the notion of choice and by doing so all the content turns cristal clear. Second and independently of MWG, it only has by the time I write down this two years in the market.

Most of the people even Kreps argue that the material covered in this book has at least 30 years so you novelty is not a major point. However, seems like Kreps is pointing out the classical theory oriented towards what's going on today in the profesion. So I would say is something to be considered. Last but not least, it far cheaper - only 35 usd again, by the time I write down this and to be honest, I think this won't be the case in near future.

Definitely, an excellent book with a bright future not only as a text book but also as a reference in microeconomic theory. Best micro book covering consumer choice, production, and GE theory. It's mathematically rigorous but provides all the intuition you could hope for.

It also doesn't have all the errors that make MWG a total pain for self-study. It breaks the foundations of Microeconomics down so well! Go to Amazon.

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## Microeconomic Foundations I: Choice and Competitive Markets

Many of our ebooks are available through library electronic resources including these platforms:. 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. It is difficult to imagine a student, or scholar, who would not gain from this masterful treatment. Crawford, University of Oxford. David Kreps's creative contributions to finance, game theory, and decision theory have transformed those fields, and this book reveals part of his technology: a deep understanding of the foundations of modern microeconomics. If you want to improve or revolutionize economics, you must first master the foundations.

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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. Keywords: microeconomics ; choice ; price ; equilibrium ; economic models ; preference ; utility ; consumer ; demand ; Afriat ; Afriat's Theorem ; uncertainty ; dynamic choice ; social choice ; efficiency ; competitive ; profit-maximizing ; expenditure ; demand theory ; deman ; duality methods ; surplus ; aggregation ; CET ; dynamic programming search for similar items in EconPapers Date: Edition: 1 References: Add references at CitEc Citations: View citations in EconPapers 33 Track citations by RSS feed There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: This item may be available elsewhere in EconPapers: Search for items with the same title. Is your work missing from RePEc?

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Economist Economist a9ce. Pretty much. III will be entitled "Institutions and Behavior". The title is Microeconomic Foundations I with subtitle Choice and Competitive Markets , suggesting that further volumes are in preparation.