Economics and the Theory of Games / Edition 1

Economics and the Theory of Games / Edition 1

by Fernando Vega-Redondo
     
 

ISBN-10: 0521775906

ISBN-13: 9780521775908

Pub. Date: 08/28/2003

Publisher: Cambridge University Press

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…  See more details below

Overview

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 socalled classical approach to game theory, which is founded on the paradigm of players' unlimited rationality. The second part shifts toward topics that no longer abide by that paradigm. This leads to the study of important topics such as the interplay between evolution and rationality, the behavioral dynamics induced by social learning, and how players might tackle the problem of multiple equilibria.

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Product Details

ISBN-13:
9780521775908
Publisher:
Cambridge University Press
Publication date:
08/28/2003
Edition description:
New Edition
Pages:
528
Product dimensions:
6.97(w) x 9.96(h) x 1.06(d)

Table of Contents

Preface
1Theoretical framework1
2Strategic-form analysis: theory30
3Strategic-form analysis: applications72
4Refinements of Nash equilibrium: theory110
5Refinements of Nash equilibrium: applications151
6Incomplete information: theory188
7Incomplete information: applications231
8Repeated interaction: theory281
9Repeated interaction: applications324
10Evolution and rationality355
11Learning to play398
12Social learning and equilibrium selection446
Bibliography501
Index507

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