STRATEGIC FOUNDATIONS OF GENERAL EQUILIBRIUM by Douglas Gale ( 9780521643306 )

Item Details

Title:

STRATEGIC FOUNDATIONS OF GENERAL EQUILIBRIUM
DYNAMIC MATCHING AND BARGAINING GAMES

By:

Douglas Gale

Format:

Hardback

List price:

£113.00

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£98.88

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£14.12

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:

Imprint:

Cambridge University Press

Returns:

Returnable

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