Douglas Gale

Strategic Foundations of General Equilibrium (eBook, PDF)

Dynamic Matching and Bargaining Games

• Format: PDF

Produktbeschreibung

The theory of competition has held a central place in economic analysis since Adam Smith. This book, written by one of the most distinguished of contemporary economic theorists, reports on a major research program to provide strategic foundations for the theory of perfect competition. Beginning with a concise survey of how the theory of competition has evolved, Gale makes extensive and rigorous use of dynamic matching and bargaining models to provide a more complete description of how a competitive equlibrium is achieved. Whereas economists have made use of a macroscopic description of markets in which certain behavioral characteristics, such as price-taking behavior, are taken for granted, Gale uses game theory to re-evaluate this assumption, beginning with individual agents and modelling their strategic interaction. A strategic foundation for competitive equilibrium shows how such interaction leads to competitive, price-taking behavior. Essential reading for graduate courses in game theory and general equilibrium.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 15. August 2000
• Englisch
• ISBN-13: 9780511036651
• Artikelnr.: 38208378

Inhaltsangabe

1. Markets and games
2. Perfect competition
3. Continuity and anonymity
4. Bounded rationality
5. Afterthoughts.