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Why I am Paying More : Price Theory and Market Structure Made Simple
From the bestselling author of Day to Day Economics
Why do saree emporiums and apparel shops offer heavy discounts on a few occasions during the year?
Why is it that airline tickets booked well in advance are always cheaper?
How would Phoolan Devi and Veerappan react to a case of Prisoners’ Dilemma?
Professor Deodhar explains the dynamics of pricing with respect to demand and supply and the various market structures like perfect competition, monopoly, monopolistic competition, and oligopoly through engaging everyday examples and case studies. With illustrative diagrams and interactive examples, Why I am Paying More is a highly useful and accessible book on microeconomics for both the uninitiated and the seasoned—a must buy for students, professionals, and laypersons alike.
Why do saree emporiums and apparel shops offer heavy discounts on a few occasions during the year?
Why is it that airline tickets booked well in advance are always cheaper?
How would Phoolan Devi and Veerappan react to a case of Prisoners’ Dilemma?
Professor Deodhar explains the dynamics of pricing with respect to demand and supply and the various market structures like perfect competition, monopoly, monopolistic competition, and oligopoly through engaging everyday examples and case studies. With illustrative diagrams and interactive examples, Why I am Paying More is a highly useful and accessible book on microeconomics for both the uninitiated and the seasoned—a must buy for students, professionals, and laypersons alike.
- GenresEconomicsNonfiction
292 pages, Paperback
First published December 13, 2013
49 people are currently reading
321 people want to read
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Displaying 1 - 16 of 16 reviews
January 31, 2014
Ceterius Paribus...... All other things being equal except the presence of this book during Nehru's or TTKs time probably we would not have been a socialistic country or atleast there would have been some attempt towards free market initiatives.
There is a joke which goes like, how many economists does it take to change a light bulb?
There is also this practical joke, how many economists does it take to screw a country? In our case a couple of them, including our bhoothpoorva chacha ji who thought himself to be a jack of many trades.
This book by an IIM-A prof delves into price theory, competition, market structures with a lot of small but different case studies. This book is divided into 10 chapters which starts off from the basic demand and supply to price ceiling, MSP, rent control act etc etc
The most important attribute of this book is its simplicity in teaching concepts that we come across everyday but not sure whom to ask. You can say google, but there is too much of info there.
Some concepts or questions that were answered
A. Consumer & producers surplus: What does it mean to have a surplus? Who gets benefitted? etc
B. The price and quantity graph, why is the price on the X axis and why not on the Y axis.
C. Why is monopoly bad, which is explained in a mathematical and a logical manner. Even communists would tend to agree.
D. Why should the government not get embroiled where private sector could have done wonders.
E. Why socialism and communism are totally bad for any countries health.
I like the book for the following points
A. The book explained a lot of concepts in a simple manner.
B. The design of the book was pleasant and readable.
C. The small case studies were a joy to read and were taken from an Indian point of view.
D. This will help in demystifying economics to a decent extent.
Some improvements that are required, which i felt
A. The formulae used could have been more simplified. e.g. Pm and Qm are equilibrium price and quantity. Couldn't something simpler be used? or dSR1 shifting of perceived demand? Why oh why make it so complicated professor.
B. There are a lot of graphs in the book, but the explanation and the graphs were in different pages. This makes a huge difference.
C. The explanations were not easy in places. e.g. "If the LRAC is U-shaped, we know for sure that the long-run marginal cost curve(LRMC) must be below LRAC when LRAC is decreasing and above LRAC when LRAC is increasing" I kid you not, this has been taken from the book.
D. The explanations could have been much more simple with more case studies and good infographics.
I would recommend that a second edition be released with these additions and corrections. The book is good and it should become excellent which it can.
I sincerely thank Random house for giving me the opportunity to review the book.
My rating 3.5 stars out of 5
There is a joke which goes like, how many economists does it take to change a light bulb?
There is also this practical joke, how many economists does it take to screw a country? In our case a couple of them, including our bhoothpoorva chacha ji who thought himself to be a jack of many trades.
This book by an IIM-A prof delves into price theory, competition, market structures with a lot of small but different case studies. This book is divided into 10 chapters which starts off from the basic demand and supply to price ceiling, MSP, rent control act etc etc
The most important attribute of this book is its simplicity in teaching concepts that we come across everyday but not sure whom to ask. You can say google, but there is too much of info there.
Some concepts or questions that were answered
A. Consumer & producers surplus: What does it mean to have a surplus? Who gets benefitted? etc
B. The price and quantity graph, why is the price on the X axis and why not on the Y axis.
C. Why is monopoly bad, which is explained in a mathematical and a logical manner. Even communists would tend to agree.
D. Why should the government not get embroiled where private sector could have done wonders.
E. Why socialism and communism are totally bad for any countries health.
I like the book for the following points
A. The book explained a lot of concepts in a simple manner.
B. The design of the book was pleasant and readable.
C. The small case studies were a joy to read and were taken from an Indian point of view.
D. This will help in demystifying economics to a decent extent.
Some improvements that are required, which i felt
A. The formulae used could have been more simplified. e.g. Pm and Qm are equilibrium price and quantity. Couldn't something simpler be used? or dSR1 shifting of perceived demand? Why oh why make it so complicated professor.
B. There are a lot of graphs in the book, but the explanation and the graphs were in different pages. This makes a huge difference.
C. The explanations were not easy in places. e.g. "If the LRAC is U-shaped, we know for sure that the long-run marginal cost curve(LRMC) must be below LRAC when LRAC is decreasing and above LRAC when LRAC is increasing" I kid you not, this has been taken from the book.
D. The explanations could have been much more simple with more case studies and good infographics.
I would recommend that a second edition be released with these additions and corrections. The book is good and it should become excellent which it can.
I sincerely thank Random house for giving me the opportunity to review the book.
My rating 3.5 stars out of 5
April 27, 2020
As a student of science/engineering I used to condemn social sciences, specially Economics. To me, all these hypothetical scenarios of Perfect Competition, Complete Monopoly, Sample & Population seemed like pseudo science. Then came my ECON-201 college course on Macro & Micro economics - I was barely able to score a decent passing marks.
I wish at that point in time I had read both Why I am Paying More and Day to Day Economics. Prof. Deodhar's resolve to make strange Economic concepts comprehensible to the uninitiated is commendable. Through real cases, Prof. Deodhar is able to explain difficult concepts like Monopolistic Competition, Why some products might be charged differently to different people or in different point in time or how a Company decides their product's production quantity keeping long term profitability in mind.
I highly recommend this book to everyone. Also, please take notes while reading this book otherwise you might be lost in subsequent chapters.
I wish at that point in time I had read both Why I am Paying More and Day to Day Economics. Prof. Deodhar's resolve to make strange Economic concepts comprehensible to the uninitiated is commendable. Through real cases, Prof. Deodhar is able to explain difficult concepts like Monopolistic Competition, Why some products might be charged differently to different people or in different point in time or how a Company decides their product's production quantity keeping long term profitability in mind.
I highly recommend this book to everyone. Also, please take notes while reading this book otherwise you might be lost in subsequent chapters.
June 16, 2020
This is a book which served as a Microeconomics refresher for me 4 years after college. The book is marketed one as something similar to "Economics for Dummies' but it may end up being slightly difficult for someone who is looking for a beginners guide to microeconomics.
I personally liked the book as it was interspersed with a lot of real life examples which made the concepts easier to understand. However, there was too much emphasis laid down to explain the concepts using graphs which made a large section of the book feel like a typical course-book.
Overall, a decent read.
3/5
I personally liked the book as it was interspersed with a lot of real life examples which made the concepts easier to understand. However, there was too much emphasis laid down to explain the concepts using graphs which made a large section of the book feel like a typical course-book.
Overall, a decent read.
3/5
March 2, 2025
highly recommeded. The book is an excellent (& perhaps the most effortless) way to understanding microeconomics, market types, various valuations within it, the role of government intervention, and tons of other concepts. During the start of any of the chapters, its very basic and lucid, by the time you are about to end the very chapter, you are already dealing with advanced conecpts or equations seamlessly.
Whether or not you are an economics/business student, the way you look at business and society therein will definitely change.
Whether or not you are an economics/business student, the way you look at business and society therein will definitely change.
December 11, 2018
The first book of the authour Mr.Deodhar is quite interesting, however, this book is not for common reader without economic background. It contains many graphs, formulas, equations which make reading slow. It is better to read basic NCERT economics book rather than this one. Though one can not eliminate all those equations, formulas etc. from economics, however keeping common people in concern, the authour may keep this book simple like his earlier one "Day to Day Economics"
July 26, 2018
A somewhat correct economic text with a misleading title. And some conspiracy theory facts just exposing the shallow text. What do the Rothschild family has to do in a book about the very basics of economic theory?
September 4, 2018
Too much of maths in the books which makes boredom to read the book
March 26, 2019
If u had economics in 12th class then u dont have to read it.
May 3, 2020
Gets little more theoretical than the last book "Day to Day Economics". Overall good from the perspective of refreshing concepts
September 10, 2023
Loved every aspect of the book from the easy explanations of different economic jargons to the wide coverage of factors that control a products price.
May 15, 2016
The language, illustrations,font size and type are very straightforward,unimposing and uncomplicated which makes this book on microeconomics unlike a any standard textbook, ideal for a layman. Contemporary examples,keep the user interested and helps a great deal in relating to the theoretical concepts.The ready reckon-er at the end of each chapter is also a clever way to further glue together the concepts of each chapter.
To sum it up it is a boiled down version of basic microeconomics made as much interesting as possible.
To sum it up it is a boiled down version of basic microeconomics made as much interesting as possible.
July 20, 2015
A interesting combo of everyday economics and how business from small to large works, goods and services are priced, different structures and types of organisation and much more to know the basics in context to indian perspective.
August 4, 2015
Nice book to know abot economics of pricing. Though i am not from economic back ground it helped a lot it knowing about pricing and how the prices were controlled. very easy explained with both graphs and practical expamples.
March 7, 2016
Very nicely explained concepts about market pricing and market strategies. I recommend this book for those new to the concepts of Microeconomics, and want to get a look of case studies and facts on this subject from the Indian market's point of view.
May 3, 2015
Microeconomic concepts have been explained well with day to day. Perfect for laymen and casual readers. However, the language was below par.
February 17, 2016
A basic Microeconomics text styled for laymen.
Displaying 1 - 16 of 16 reviews