This book examines why game theory has become such a popular tool of analy1sis. It investigates the deficiencies in this methodology and goes on to consider whether its popularity will fade or remain an important tool for economists. The book provides the reader with some basic concepts from noncooperative theory, and then goes on to explore the strengths, weaknesses, and future of the theory as a tool of economic modelling and analysis. All those interested in the applications of game theory to economics, from undergraduates to academics will find this study of particular value.
Selected Editorial Reviews
.... a book I could not put down.... the exposition is remarkably clear
Journal of Economic Perspectives
The writing is in a very personalized style. Though the book is putatively for the novice, or less formally trained reader, the presentation and the level of the debate does make certain demands. It nevertheless is frontline stuff.
Economic Times, April 1992
Will rapidly be established as a basic reference for students and their teachers ... even the less mathematically inclined economists will find much to gain from the application of new game theory techniques in economics.
Scottish Journal of Political Economy