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Title: STRATEGIC FOUNDATIONS OF GENERAL EQUILIBRIUM
DYNAMIC MATCHING AND BARGAINING GAMES
By: Douglas Gale
Format: Hardback

List price: £113.00
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ISBN 10: 0521643309
ISBN 13: 9780521643306
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Publisher: CAMBRIDGE UNIVERSITY PRESS
Pub. date: 28 August, 2000
Series: Churchill Lectures in Economics
Pages: 232
Description: Graduate level text for courses on game theory and general equilibrium by leading economic theorist.
Synopsis: 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.
Illustrations: Illustrations
Publication: UK
Imprint: Cambridge University Press
Returns: Returnable
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