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Economics and the Theory of Games Paperback - 2003
by Fernando Vega-Redondo
Summary
This textbook offers a systematic, self-contained account of the main contributions of modern game theory and its applications to economics. Starting with a detailed description of how to model strategic situations, the discussion proceeds by studying basic solution concepts, their main refinements, games played under incomplete information, and repeated games. For each of these theoretical developments, there is a companion set of applications that cover the most representative instances of game-theoretic analysis in economics, e.g. oligopolistic competition, public goods, coordination failures, bargaining, insurance markets, implementation theory, signaling and auctions. The theory and applications covered in the first part of the book fall under the so-called 'classical' approach to game theory, which is founded on the paradigm of players' unlimited rationality. The second part shifts towards topics that no longer abide by that paradigm. This leads to the study of topics such as the interplay between evolution and rationality.
First line
In ordinary language, we speak of a "game" as a (generally amusing) process of interaction that involves a given population of individuals, is subject to some fixed rules, and has a prespecified collection of payoffs associated to every possible outcome.
Details
- Title Economics and the Theory of Games
- Author Fernando Vega-Redondo
- Binding Paperback
- Edition FIrst Edition
- Pages 512
- Volumes 1
- Language ENG
- Publisher Cambridge University Press, New York, NY
- Date 2003-07-28
- Illustrated Yes
- ISBN 9780521775908 / 0521775906
- Weight 1.99 lbs (0.90 kg)
- Dimensions 9.94 x 7.08 x 1.13 in (25.25 x 17.98 x 2.87 cm)
- Library of Congress subjects Economics, Game theory
- Library of Congress Catalog Number 2002042903
- Dewey Decimal Code 330.015
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Paperback / softback. New. This textbook is geared towards intermediate and advanced students of economics and other social sciences who seek a rigorous, self-contained approach to the field of game theory. Its first part covers the main topics in so-called 'classical' game theory. Its second part addresses the more novel areas of the discipline.
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