It is based on classes that Lakshman Krishnamurthi and I have taught to various audiences over the years. What makes it different from books currently on the market is that it  has, shock, horror, equations. I have to thank Lakshman for agreeing to  such a foolhardy thing when we want to reach readers with an MBA or equivalent. Any decent MBA program requires some knowledge of probability, statistics and economics.  Therefore, why write a book for this audience that does not make use of this knowledge? If we did,  we are either hypocrites or contemptuous of our readers (or both).

Our experiences in the classroom (with both full time students and working executives) has convinced us of an appetite for a business book that relies on close and careful reasoning rather than loose analogies and  anecdotes. We will see if our students are a reflection of the world at large.

I should note that portions of this book have also been used with undergraduates with enormous success. If  you  teach a higher level undergraduate econ class and are bored out of your mind, I would suggest offering a class based on this book. It could be used in place of the traditional (soporific) IO offering.