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Game Theory and Economic Modelling
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Game Theory and Economic Modelling

David M. Kreps

Abstract

Beginning in the early to the mid‐1970s, non‐cooperative game theory became an important tool of economics. This book is based on a series of lectures given at Oxford, and comments on this use of non‐cooperative game theory. After providing a non‐technical introduction to the basic ideas of non‐cooperative game theory, the book discusses: (1) how and why game theory has been a success—because it permits economists to model and analyse situations of dynamic competition and where private information plays an important role; (2) how and why the theory has failed—to provide an understanding of whe ... More

Keywords: adaptive learning, bounded rationality, dynamic competition, informational economics, Nash equilibrium, non‐cooperative game theory, private information, reciprocity

Bibliographic Information

Print publication date: 1990 Print ISBN-13: 9780198283812
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0198283814.001.0001

Authors

Affiliations are at time of print publication.

David M. Kreps, author
Stanford University
Author Webpage

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