Game Theory for Applied Economists

Name: Game Theory for Applied Economists
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ISBN: 9780691003955

Robert S. Gibbons

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English

Princeton University Press
02 August 1992

Economics; Game theory

An introduction to one of the most powerful tools in modern economics

Game Theory for Applied Economists introduces one of the most powerful tools of modern economics to a wide audience: those who will later construct or consume game-theoretic models. Robert Gibbons addresses scholars in applied fields within economics who want a serious and thorough discussion of game theory but who may have found other works too abstract.

Gibbons emphasizes the economic applications of the theory at least as much as the pure theory itself; formal arguments about abstract games play a minor role. The applications illustrate the process of model building-of translating an informal description of a multi-person decision situation into a formal game-theoretic problem to be analyzed. Also, the variety of applications shows that similar issues arise in different areas of economics, and that the same game-theoretic tools can be applied in each setting. In order to emphasize the broad potential scope of the theory, conventional applications from industrial organization have been largely replaced by applications from labor, macro, and other applied fields in economics.

The book covers four classes of games, and four corresponding notions of equilibrium: static games of complete information and Nash equilibrium, dynamic games of complete information and subgame-perfect Nash equilibrium, static games of incomplete information and Bayesian Nash equilibrium, and dynamic games of incomplete information and perfect Bayesian equilibrium.

By: Robert S. Gibbons
Imprint: Princeton University Press
Country of Publication: United States
Dimensions: Height: 235mm, Width: 152mm, Spine: 18mm
Weight: 397g
ISBN: 9780691003955
ISBN 10: 0691003955
Pages: 284
Publication Date: 02 August 1992
Audience: Professional and scholarly , College/higher education , Undergraduate , Primary
Format: Paperback
Publisher's Status: Active

Robert Gibbons is professor of organizational economics and the Sloan Distinguished Professor of Management at the Massachusetts Institute of Technology. He is the coeditor of The Handbook of Organizational Economics (Princeton).