Economics and Regulation
Prof. Dr. Arnis Vilks
Microeconomics appears to be a huge collection of models – ranging from basic models of optimization and markets to sophisticated ones that try to spell out the kind of information and reasoning that would entail behaviour according to specific game-theoretic solution concepts. However, it is our philosophy that models are not there for their own sake, but should help to better understand, and maybe solve, real-world problems.
The issues one can try to elucidate by means of microeconomic modelling are again manifold – ranging from efficient allocation of resources and managerial decision-making under competitive conditions to conflict and cooperation in international politics.