Strategic Foundations of General Equilibrium
Dynamic Matching and Bargaining Games
By (author) Douglas Gale
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Strategic Foundations of General Equilibrium by Douglas Gale
Book DescriptionThe theory of competition has held a central place in economic analysis since Adam Smith. This book, written by one of the most distinguished of contemporary economic theorists, reports on a major research program to provide strategic foundations for the theory of perfect competition. Beginning with a concise survey of how the theory of competition has evolved, Gale makes extensive and rigorous use of dynamic matching and bargaining models to provide a more complete description of how a competitive equlibrium is achieved. Whereas economists have made use of a macroscopic description of markets in which certain behavioral characteristics, such as price-taking behavior, are taken for granted, Gale uses game theory to re-evaluate this assumption, beginning with individual agents and modelling their strategic interaction. A strategic foundation for competitive equilibrium shows how such interaction leads to competitive, price-taking behavior. Essential reading for graduate courses in game theory and general equilibrium.
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Book DetailsISBN: 9780521644105
(216mm x 138mm x 14mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 15-Aug-2000
Country of Publication: United Kingdom
Books By Author Douglas Gale
Understanding Financial Crises, Paperback (April 2009)
What causes a financial crisis? Can crises be anticipated or even avoided? Should governments and international institutions intervene? Based on ten years of research, the authors develop a theoretical approach to analyzing financial crises and use the latest economic theories to begin to understand the causes and consequences of financial crises.
Economic Analysis of Markets and Games, Paperback (July 2004)
These original essays focus on a wide range of topics related to Frank Hahn's distinguished work in economics.
Comparing Financial Systems, Paperback (April 2001)
The authors argue that the view that market-based systems are best is simplistic; a more nuanced approach is necessary.
Strategic Foundations of General Equilibrium, Hardback (August 2000)» View all books by Douglas Gale
Graduate level text for courses on game theory and general equilibrium by leading economic theorist.
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