From Wikipedia, the free encyclopedia
Jump to: navigation, search
WikiProject Economics (Rated C-class, Top-importance)
WikiProject icon This article is within the scope of WikiProject Economics, a collaborative effort to improve the coverage of Economics on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.
C-Class article C  This article has been rated as C-Class on the project's quality scale.
 Top  This article has been rated as Top-importance on the project's importance scale.
WikiProject Citizendium Porting    (Inactive)
WikiProject icon This article is within the scope of WikiProject Citizendium Porting, a project which is currently considered to be inactive.

A question for people who watch this page[edit]

What, currently, is the most popular and/or authoritative textbook in economics, or microeconomics? Slrubenstein | Talk 16:17, 3 October 2008 (UTC)

Mas-Colell, Whinston, Green: Microeconomic Theory is the bible of the field. It's very technical though. (talk) 21:58, 11 June 2011 (UTC)


ordinal utility what is its definition,assumptions&limitation — Preceding unsigned comment added by (talk) 13:47, 15 October 2011 (UTC)


dsds fsad adsa — Preceding unsigned comment added by (talk) 11:43, 16 February 2012 (UTC)

Average total cost is a vague and ambiguous term[edit]

The term "average total cost" is vague and ambiguous. Does total cost mean the total cost of production? If so what is it averaged over? Does total cost refer to the cost to produce a single unit of output? If so why not just call it cost? And why not talk about the average cost to produce a unit of output?

What the article means is average cost =Total cost/quantity produced Lbertolotti (talk) 18:38, 17 March 2013 (UTC)


The article on macroeconomics has a section explaining the development of the field. Shouldnt this article have the same? — Preceding unsigned comment added by Lbertolotti (talkcontribs) 18:47, 14 October 2012 (UTC)

Some names that come to mind right now are: Cournot,Marshall,Walras,Coase,Stiglitz--Lbertolotti (talk) 19:44, 14 October 2012 (UTC)

I proposed doing a history of micro article at one point ( It looks like you are working along similar lines. Maybe add more on classical economic theory and general equilibrium?--Bkwillwm (talk) 06:05, 16 October 2012 (UTC)

Sure feel free to improve, I just tried to cover the usual stuff you find in micro books. Regarding classical economists point of view, I think that most of what they would have to say about micro is contained in the first book of Wealth of Nations:division of labour,real price, nominal price,wages,rent,profit. General equilibrium is a tricky subject, particurarly regarding mathematical proofs, so I think its rather hard to summarize on this page.--Lbertolotti (talk) 12:39, 17 October 2012 (UTC)

Also adding some pictures could make the page more appealing to the reader, like pictures of markets, money and goods for example-- (talk) 12:58, 17 October 2012 (UTC)

Relationship between price and quantity demanded[edit]

The statement is a bias in favor of unplanned economy. The set of choises just showes people buy what they can afford and price things at what they can afford. It is not necessarily the "happiest" set of choices. Both supply side and demand side could still be starving. — Preceding unsigned comment added by (talk) 07:23, 12 February 2013 (UTC)

Sentece removed because it didnt make logical sense.Lbertolotti (talk) 18:37, 17 March 2013 (UTC)

Metric space?[edit]

In the Assumptions & Definitions section, it is stated (without explanation) that an actor's preferences are a metric space. However, as I understand both preferences and metric spaces, this seems to be incorrect. A metric space not only allows comparison between any two points, but it also has a "metric" that can associate a scalar magnitude to any point...e.g., with a metric space, you can not only say that "she prefers apples to oranges", but you can say "she prefers 1.6 apples to one orange" -- which may not necessarily be possible; as I understand it, this is the point of the distinction between "ordinal" and "cardinal" utility. 2601:9:3400:74:8541:A080:BAB0:70F5 (talk) 18:49, 16 May 2014 (UTC)

This page is very helpful. — Preceding unsigned comment added by (talk) 01:16, 30 October 2014 (UTC)

Dr. Yan Chen's comment on this article[edit]

Dr. Yan Chen has recently published the following research publications which are related to this Wikipedia article:

  • Reference 1: Goldfarb, Avi, et al. "Behavioral models of managerial decision-making." Marketing Letters 23.2 (2012): 405-421., Number of Citations: 9
  • Reference 2: Jeon, Grace YoungJoo, Yong-Mi Kim, and Yan Chen. "Re-examining price as a predictor of answer quality in an online Q&A site." Proceedings of the SIGCHI conference on human factors in computing systems. ACM, 2010., Number of Citations: 21
  • Reference 3: Chen, Yan, TECK‐HUA HO, and YONG‐MI KIM. "Knowledge market design: A field experiment at Google Answers." Journal of Public Economic Theory 12.4 (2010): 641-664., Number of Citations: 51

Professor Yan Chen has reviewed this Wikipedia page, and provided us with the following comments to improve its quality:

" Also considered is the elasticity of products within the market system": The elasticity is a concept in the general topic of demand analysis. It should not have equal importance as, e.g., "markets under asymmetric information" which is usually a chapter by itself in a standard microeconomics textbook.

The section on "Behavioral economics" traces the history, but does not give a definition of behavioral economics, which should be defined as a new field of study at the intersection of psychology and economics, which takes robust insights from psychology experiments seriously and formalize it using the rigorous language of economics.

We hope Wikipedians on this talk page can take advantage of these comments and improve the quality of the article accordingly.

ExpertIdeasBot (talk) 02:50, 30 October 2014 (UTC)