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Game Theory for Applied Economists, by Robert Gibbons
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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 emphasizes the economic applications of the theory at least as much as the pure theory itself; formal arguments about abstract games play a minor role. The applications illustrate the process of model building--of translating an informal description of a multi-person decision situation into a formal game-theoretic problem to be analyzed. Also, the variety of applications shows that similar issues arise in different areas of economics, and that the same game-theoretic tools can be applied in each setting. In order to emphasize the broad potential scope of the theory, conventional applications from industrial organization have been largely replaced by applications from labor, macro, and other applied fields in economics. The book covers four classes of games, and four corresponding notions of equilibrium: static games of complete information and Nash equilibrium, dynamic games of complete information and subgame-perfect Nash equilibrium, static games of incomplete information and Bayesian Nash equilibrium, and dynamic games of incomplete information and perfect Bayesian equilibrium.
- Sales Rank: #3463658 in Books
- Published on: 1992-08-30
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 6.25" w x .75" l,
- Binding: Hardcover
- 288 pages
Review
"Lucid and detailed introduction to game theory in an explicitly economic context."--Cooperative Economic News Service
Most helpful customer reviews
0 of 0 people found the following review helpful.
Fascinating stuff
By Tai
I got this book as an accompaniment for a Game Theory class I am taking currently. I enjoyed reading this on the side. It was not as easy to read as my assigned textbook but I felt that it went into greater depth about certain subjects vs. the traditional game theory book.
I would recommend this for Econ majors (such as myself) or those with a particular penchant for Game Theory.
7 of 8 people found the following review helpful.
Error-riddled Kindle Edition
By Twitchard
Don't buy the Kindle Edition. The typesetting is horrible, it is impossible to read. What's more, there are typos everywhere, and some of the formulas are incorrect and certainly do not match the original, printed version.
With most mistakes you can puzzle out what the original probably says, but at one point, the author intends to use a cumulative probability function F(x) and then f(x) to denote its derivative, but the Kindle Edition depicts them both capital F(x). I'm a patient man, but that's what prompted me to write this review and warn others away.
Maybe it'll do in a pinch if you really, really hate printed books, but avoid if at all possible.
2 of 2 people found the following review helpful.
A concise primer for undergrads
By Trevor Burnham
This is a nice book on game theory if you're not very mathematically inclined. It was recommended as a supplementary text for a graduate-level course that I took, and I enjoyed it as such. But for a more thorough introductory text for undergrads, I strongly recommend Osborne's An Introduction to Game Theory. This one is preferable only if you're allergic to rudimentary set theory.
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