Description
Book SynopsisEconomists have in recent years found the theory of games to be an attractive route for exploring imperfectly competitive markets. In this collection of articles, some of the best minds in contemporary economics on both sides of the Atlantic xplore both the potential and the limitations of this theoretical framework.
Trade Review"This volume brings together a number of important recent papers on game theory and its application to imperfect competition and incentives".
Alan Brandenburger, Economica "Like all good collections, it has the virtue of providing the non-specialist with an up-to-date review of the literature. The book is well produced and contains a very good bibliography". R.Rothschild, British Book News
Table of ContentsPart 1 Equilibrium theory: the existence of equilibrium in discontinuous economic games - theory, application, P.Dasgupta and E.Maskin. Part 2 Imperfect competition: on the rate of convergence of oligopoly equilibria in large markets - an example, P.Dasgupta and Y.Ushio; natural oligopolies, A.Shaked and J.Sutton; relaxing price competition through product differentiation, A.Shaked and J.Sutton; the theory of technological competition, P.Dasgupta; strategic considerations in invention and innovation - the case of natural resources, P.Dasgupta, R.Gilbert and J.E.Stiglitz. Part 3 The design of organisations: on the revelation principle under complete and incomplete information, R.Repullo; optimal incentive schemes with many agents, D.Mookherjee.
