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Game Theory and Economic Modelling$
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David M. Kreps

Print publication date: 1990

Print ISBN-13: 9780198283812

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198283814.001.0001

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The Successes of Game Theory

The Successes of Game Theory

Chapter:
(p.37) 4 The Successes of Game Theory
Source:
Game Theory and Economic Modelling
Author(s):

David M. Kreps (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198283814.003.0004

Illustrates some of the successes of non‐cooperative game theory in economics. Specifically, it discusses how non‐cooperative game theory has helped economists to understand dynamic competition, credibility and reputation, cooperation based on reciprocity and the threat of punishment, and interactions in which parties hold private information, including information about their own basic motivations.

Keywords:   cooperation, credibility, dynamic competition, motivation, non‐cooperative game theory, private information, punishment, reciprocity, reputation

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