The Oxford Handbook of Managerial Economics

, the first of its kind, aims to provide researchers, practitioners, policymakers, and teachers with summaries of the most up-to-date research in the field of managerial economics. Edited by the coauthors of two managerial economics textbooks, this volume consists of 25 chapters contributed by leading scholars and business consultants from around the globe, drawing on the literature of economics, finance, industrial organization, marketing, behavioral economics, game theory, and auction theory. The summarizes cutting-edge approaches to the analysis of the decision-making challenges faced by the managers of for-profit and not-for-profit enterprises. The problems addressed range from cost estimation, product development and promotion, optimal pricing strategies for network industries, and make-or-buy decisions to organizational design, performance pay, corporate governance, strategies for multinational corporations, and the social responsibilities of business. Each of the contributed chapters also identifies the problems that are yet to be solved and thus points the way toward topics for future research. Managerial economics has moved far beyond simply applying neoclassical microeconomic theory to the actual world of practical business decision-making. By illustrating how disciplines other than economics can fruitfully be brought to bear in helping to analyze and to understand the incentives and constraints under which business managers operate, the Handbook fills in the gaps between theory and practice. Sometimes technical, but always reader-friendly, no one with an interest in the modern world of business or public policies can afford to ignore the analyses and the important lessons taught in this