Overview

This book 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 overly abstract. Gibbons emphas

Full Product Details

Author:   Robert Gibbons
Publisher:   Princeton University Press
Imprint:   Princeton University Press
Dimensions:   Width: 15.20cm , Height: 1.80cm , Length: 23.50cm
Weight:   0.397kg
ISBN:  

9780691003955

ISBN 10:   0691003955
Pages:   284
Publication Date:   02 August 1992
Audience:   Professional and scholarly ,  College/higher education ,  Professional & Vocational ,  Tertiary & Higher Education
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
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Language:   English

Table of Contents

1Static Games of Complete Information11.1Basic Theory: Narmal-Form Games and Nash Equilibrium21.1.ANormal-Form Representation of Games21.1.BIterated Elimination of Strictly Dominated Strategies41.1.CMotivation and Definition of Nash Equilibriuin81.2Applications141.2.ACournot Model of Duopoly141.2.BBertrand Model of Duopoly211.2.CFinal-Offer Arbitration221.2.DThe Problem of the Commons271.3Advanced Theory: Mixed Strategies and Existence of Equilibriutn291.3.AMixed Strategies291.3.BExistence of Nash Equilibrium332Dynamic Games of Complete Information552.1Dynamic Games of Complete and Perfect Information572.1.ATheory: Backwards Induction572.1.BStackelberg Model of Duopoly612.1.CWages and Employment in a Unionized Firm642.1.DSequential Bargaining682.2Two-Stage Games of Complete but Imperfect Information712.2.ATheory: Subgame Perfection712.2.BBank Runs732.2.CTariffs and Imperfect International Competition752.2.DTournaments792.3Repeated Games822.3.ATheory: Two-Stage Repeated Games822.3.BTheory: Infinitely Repeated Games882.3.CCollusion between Cournot Duopolists1022.3.DEfficiency Wages1072.3.ETime-Consistent Monetary Policy1122.4Dynamic Games of Complete but Imperfect Information1152.4.AExtensive-Form Representation of Games1152.4.BSubgame-Perfect Nash Equilibriuin1223Static Games of Incomplete Information1433.1Theory: Static Bayesian Ganies and Bayesian Nash Equilibrium1443.1.AAn Example: Cournot Competition under Asymmetric Information1443.1.BNormal-Form Representation of Static Bayesian Games1463.1.CDefinition of Bayesian Nash Equilibrium1493.2Applications1523.2.AMixed Strategies Revisited1523.2.BAn Auction1553.2.CA Double Auction1583.3The Revelation Principle1644Dynamic Games of Incomplete Information1734.1Introduction to Perfect Bayesian Equilibrium1754.2Signaling Games1834.2.APerfect Bayesian Equilibrium in Signaling Games1834.2.BJob-Market Signaling1904.2.CCorporate Investment and Capital Structure2054.2.DMonetary Policy2084.3Other Applications of Perfect Bayesian Equilibrium2104.3.ACheap-Talk Games2104.3.BSequential Bargaining under Asymmetric Information2184.3.CReputation in the Finitely Repeated Prisoners' Dilemnia2244.4Refinements of Perfect Bayesian Equilibrium233Index257

Reviews

Lucid and detailed introduction to game theory in an explicitly economic context. Cooperative Economic News Service

Lucid and detailed introduction to game theory in an explicitly economic context. -- Cooperative Economic News Service

Lucid and detailed introduction to game theory in an explicitly economic context. -- Cooperative Economic News Service

Author Information

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).

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