Game Theory for Applied Economists: Robert Gibbons: 9780691003955

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Publication Date: July 13,1992 | ISBN-10: 0691003955 ISBN-13 :978-0691003955
This book describes one of the most powerful tools of modern economics to a wide audience: after construction or consumption of game theory model. Robert Gibbons addresses scholars in the application areas of the economy, who want a serious and in-depth discussion of game theory, but might find other works too abstract. Gibbons stressed economic application of the theory, at least as much as the pure theory itself in the form of abstract game parameters play a minor role. Application description model - more people decided to translate informal description of the circumstances, to become a formal game theory to analyze the process. In addition, a wide variety of applications similar problems in different areas of the economy, and the same tools of game theory, can be applied in each setting. In order to emphasize the broad potential scope of the theory, traditional applications from industrial organization have been largely replaced by the labor, the macro-control in the application of economic and other application areas. This book covers the four types of games, and four corresponding equilibrium concept: complete information static game Nash equilibrium, complete information dynamic game sub-game perfect Nash equilibrium, incomplete information static game and Bayesian Nash balanced and dynamic game of incomplete information and perfect Bayesian equili