Game-Theoretic Methods in General Equilibrium Analysis (NATO Science Series D:, 77)

Author: Mertens, J.F.

Brand: Springer

Edition: 1994

Features:

• Used Book in Good Condition

Format: Illustrated

Number Of Pages: 272

EAN: 9780792330110

Release Date: 31-07-1994

Package Dimensions: 9.4 x 6.5 x 0.9 inches

Languages: English

Binding: Hardcover

Part Number: Refer to Sapnet.

Details: JEAN-FRANQOIS MERTENS This book presents a systematic exposition of the use of game theoretic methods in general equilibrium analysis. Clearly the first such use was by Arrow and Debreu, with the "birth" of general equi librium theory itself, in using Nash's existence theorem (or a generalization) to prove the existence of a competitive equilibrium. But this use appeared possibly to be merely tech nical, borrowing some tools for proving a theorem. This book stresses the later contributions, were game theoretic concepts were used as such, to explain various aspects of the general equilibrium model. But clearly, each of those later approaches also provides per sea game theoretic proof of the existence of competitive equilibrium. Part A deals with the first such approach: the equality between the set of competitive equilibria of a perfectly competitive (i.e., every trader has negligible market power) economy and the core of the corresponding cooperative game.