Selected Works of Joseph E. Stiglitz: Volume III: Rethinking Microeconomics [Hardcover]

This volume brings together a selection of Joseph Stiglitz's work on microeconomics. It includes substantial original introductions to the Selected Works, the volume as a whole, and each part within the volume.This is the third volume in a new, definitive, six-volume edition of the works of Joseph Stiglitz, one of today's most distinguished and controversial economists. Stiglitz was awarded the Nobel Prize in Economics in 2001 for his work on asymmetric information and is widely acknowledged as one of the pioneers in the field of modern information economics and more generally for his contributions to microeconomics.Volume III contains a selection of Joseph E. Stiglitz's work on microeconomics. It questions well-established tenets, including many that are so fundamental they are almost taken for granted, covering basic concepts of risk and markets; the management of risk; the theory of the firm; the economics of organization; and theory of human behaviour. Stiglitz reflects on his work and the field more generally throughout the volume by including substantial original introductions to the Selected Works, the volume as a whole, and each part within the volume.Part I: Risk and Markets: Basic ConceptsIntroduction to Part IA. Foundations of RiskMeasuring Risk1. Increasing Risk,Joseph E. Stiglitz and Michael Rothschild2. Increases in Risk and in Risk Aversion,Joseph E. Stiglitz and P. DiamondRisk with more than one commodity3. Behavior toward Risk With Many Commodities4. A Consumption Oriented Theory of the Demand for Financial Assets and the Term Structure of Interest RatesB: Portfolio Theory5. The Structure of Investor Preferences and Asset Returns, and Separability in Portfolio Allocation: A Contribution to the Pure Theory of Mutual Funds,Joseph E. Stiglitz and D. Cass6. Risk Aversion and Wealth Effects on Portfolios with Many Assets,Joseph E. Stiglitz