Kevin M. Murphy

Robert Minton

Casey B. Mulligan

Sonia Jaffe

An authoritative textbook based on the legendary economics course taught at the University of Chicago Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts. Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more. Emphasizes the application of price theory, enabling students to learn by doing Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life Supported by video lectures taught by Kevin M. Murphy and Gary Becker The video course enables students to learn the theory at home and practice the applications in the classroom

Chicago Price Theory

Is he, or isn't he? Ambiguity and indeterminacy are powerful incitements to sexual interest for certain queer adventurers. The flamboyant and in-your-face faggot has undeniable charms; the unequivocally straight he-man is an attractive challenge; but the doubt that graces and gilds an uncertain target is a consummate come-on. For the queer reader, the enigmatic or polysemous text is a similar turn-on. Ambiguity is an invitation to approach, pursue, or persuade.

Vile Affections: Medieval Literature in Reprobum Sensus Traditus

Gary Stanley Becker

Economists assume that people make choices based on their preferences and their budget constraints. The preferences and values of others play no role in the standard economic model. This feature has been sharply criticized by other social scientists, who believe that the choices people make are also conditioned by social and cultural forces. Economists, meanwhile, are not satisfied with standard sociological and anthropological concepts and explanations because they are not embedded in a testable, analytic framework. In this book, Gary Becker and Kevin Murphy provide such a framework by including the social environment along with standard goods and services in their utility functions. These extended utility functions provide a way of analyzing how changes in the social environment affect people's choices and behaviors. More important, they also provide a way of analyzing how the social environment itself is determined by the interactions of individuals. Using this approach, the authors are able to explain many puzzling phenomena, including patterns of drug use, how love affects marriage patterns, neighborhood segregation, the prices of fine art and other collectibles, the social side of trademarks, the rise and fall of fads and fashions, and the distribution of income and status.

Market Behavior in a Social Environment

Social Economics

Jessica Todd Smith

David Pagel

John Frame

Since 2006, California sculptor John Frame (b. 1950) has been working toward the creation of a stop-motion animated film featuring an eclectic cast of fully articulated characters. In keeping with the artist’s distinctive style, the figures used in the animation combine found materials with meticulously carved wood and are art objects in their own right. They inhabit a curious and complex universe and act together to tell a fragmented tale in a unique idiom. The book delves into this visionary world through Frame’s photographs of his sculptural pieces, stage settings, and vignettes.

Kevin M. Murphy

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