Economics and the Theory of Games 1st Edition by Fernando Vega Redondo 0521772516 9780521772518
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Product details:
ISBN 10: 0521772516
ISBN 13: 9780521772518
Author: Fernando Vega Redondo
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.
Table of contents:
CHAPTER 1 Theoretical framework
CHAPTER 2 Strategic-form analysis: theory
CHAPTER 3 Strategic-form analysis: applications
CHAPTER 4 Refinements of Nash equilibrium: theory
CHAPTER 5 Refinements of Nash equilibrium: applications
CHAPTER 6 Incomplete information: theory
CHAPTER 7 Incomplete information: applications
CHAPTER 8 Repeated interaction: theory
CHAPTER 9 Repeated interaction: applications
CHAPTER 10 Evolution and rationality
CHAPTER 11 Learning to play
CHAPTER 12 Social learning and equilibrium selection
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Tags: Fernando Vega Redondo, Economics, Theory, Games