Construction microeconomics. (2023)

• Record Type: Book
• Further Information: Note: Christian Brockmann.
• Authors: Brockmann, Christian, 1954-
• Contents: Foreword by Gerard de Valence Preface Introduction 1.1 1.1. Navigating the Maze of Economic Literature 1.1.1. Economics 1.1.2. Microeconomics 1.1.3. Macroeconomics 1.1.4. Construction Economics 1.2. Tools and Presentations.1 1.2.1. Definitions 1.2.2. Economic Scholars 1.2.3. Assumptions 1.2.4. Case Studies 1.2.5. Observations 1.2.6. Summaries 1.3. Methodological Approach 1.3.1. Laws and Regularities 1.3.2. Focus and Goals 1.3.3. Descriptive and Normative Economics 1.4. Theoretical Background 1.4.1. Industrial Economics 1.4.2. New Institutional Economics 1.4.3. Game Theory 1.4.4. Auction Theory 1.4.5. Behavioral Economics 1.4.6. Economics of Information 1.4.7. Law and Economics 1.5. What You Can and Cannot Expect 1.6. Audience 1.6.1. Students 1.6.2. Lecturers 1.6.3. Academics 1.6.4. Contractors 1.6.5. Owners 1.6.6. Policymakers 1.7. Structure of the Text 1.7.1. Basic Economic Principles 1.7.2. Consumers in Perfectly Competitive Markets 1.7.3. Producers in Perfectly Competitive Markets 1.7.4. Interaction in Perfectly Competitive Markets 1.7.5. Imperfect Markets 1.7.6. Factor Markets 1.7.7. Information, Risk, and Uncertainty 1.7.8. Game Theory and Auctions 1.7.9. Construction Sector 1.7.10. Theory of the Owner 1.7.11. Theory of the Contractor 1.7.12. Construction Goods 1.7.13. Construction Markets 1.7.14. Contracting 1.7.15. Market Imperfections 1.7.16. Government 1.7.17. Public Construction Goods 1.7.18. Conclusion 1.7.19. Synopsis References Part A: Microeconomics Case Study 2.1 Berlin (1994) 2.1 Consensual Ideas 2.2 Scarcity and Choice 2.3 Decision-Making 2.3.1 Opportunity Costs 2.3.2 Incentives 2.3.3 Marginal Decisions 2.4 Markets 2.5 Trade and Comparative Advantage References Case Study 3.1 Car or House? 3.1 Perfectly Competitive Markets 3.2 Consumer Behavior 3.2.1 Budget Constraint 3.2.2 Preferences and Utility Funcitons 3.2.3 Utility Maximization 3.3 Demand Curve 3.4 Further Reading References Case Study 4.1 Thinking about Your Own Construction 4.1. Producer Behavior 4.2. Production Theory 4.2.1. Technology 4.2.2. Production Functions 4.3. Cost Theory 4.3.1. Cost Curves for Classical Production Functions 4.3.2. Cost Curves for Neoclassical Production Functions 4.3.3. Cost Curves for Limitational Production Functions 4.3.4. Simplified Cost Function with Constantly Increasing Variable Costs 4.3.5. Long-Run Cost Curves 4.4. Supply Curve 4.4.1. Short-Run Supply Curve of a Firm 4.4.2. Long-Run Supply Curve of a Firm 4.4.3. Market Supply Curve References Case Study 5.1: Your Own Company, a Precast 5.1. Equilibrium Price and Quantity 5.2. Comparative Statics 5.3. Elasticities of Demand and Supply 5.4. Consumer and Producer Surplus 5.5. Time-Dependent Supply Curves and Market Outcomes 5.5.1 Very-Short-Run Supply Curve 5.5.2 Short-Run Supply Curve 5.5.3 Long-Run Supply Curve 5.6. Welfare 5.7. Efficiency and Equity Case Study 5: Why Do You Always Have to Deal with Competition? 6.1. Monopoly 6.1.1. Normal Monopolies 6.1.2. Natural Monopolies 6.2. Monopolistic Competition 6.3. Monopsony 6.4. Oligopoly Case Study 7.1 Demand or Supply? 7.1. Factor Supply of Households 7.1.1. Labor Supply 7.1.2. Capital Supply 7.2. Factor Demand of Firms 7.3. Demand and Supply on Factor Markets Case Study 8.1 Uncertainty? 8.1 Uncertainty 8.1.1 Risk Attitudes 8.1.2 Risk Strategies 8.1.3 Transaction Cost 8.2 Information 8.2.1 Satisficing Model of Decision-Making 8.2.2 Asymmetric Information Reference Case Study 9.1 Bidding 9.1 Game Theory 9.1.1. Basics of Game Theory 9.1.2. Static Games with Complete Information 9.1.3. Dynamic Games with Complete Information 9.2 Auctions 9.1.4. Basics of Auctions 9.1.5. English and Vickrey Auctions 9.1.6. Dutch Auctions and Sealed-Bid Auctions 9.1.7. Competitive Bidding Part B: Applied Construction Microeconomics 10 Construction Sector 10.1. Definition 10.2. Economic Contribution 10.2.1. Value-Added Concept 10.2.2. Investment Concept 10.2.3. Multiplier Concept 10.3. Actors in the Construction Sector 10.3.1. Market Demand 10.3.2. Market Supply 10.4. Summary of the Construction Sector References 11 Theory of the Owner 11.1. The Owner as an Entity 11.1.1. Terminology 11.1.2. Images and Prejudices 11.1.3. Organization 11.2. Tasks of the Owner 11.3. Behavior of the Owner 11.3.1. Consumers Buying Construction Goods 11.3.2. Producers Buying Construction Goods 11.4. Information of the Owner 11.5. Developing a Contract 11.6. Procurement of a Contractor 11.7. Supervision of the Construction Process 11.8. Summary 12 Theory of the Contractor 12.1. The Contractor as an Entity 12.1.1. Cooperation 12.1.2. Organization 12.2. Tasks of the Contractor 12.3. Behavior of the Contractor 12.3.1. Strategy 12.3.2. Legal Organization 12.3.3. Growth of the Firm 12.4. Information of the Contractor 12.5. Bidding and Pricing 12.6. Contractor Pricing 12.7. Production 1
• Edition: 1st
• Publisher Details: Chichester : Wiley Blackwell
• Publication Date: 2023
• Extent: 1 online resource (384 pages)
• Subjects: 692.8; Contractors' operations; Construction industry -- Economic aspects
• Languages: English
• ISBNs: 9781119831921
• Related ISBNs: 9781119828785
• Notes: Note: Description based on CIP data; resource not viewed.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.