Repeated Games and Reputations
Long-Run Relationships
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Product details:
- Publisher OUP USA
- Date of Publication 12 October 2006
- ISBN 9780195300796
- Binding Hardback
- No. of pages672 pages
- Size 180x254x35 mm
- Weight 1361 g
- Language English
- Illustrations 62 line illus. 0
Categories
Short description:
This book provides a complete treatment of the theory of repeated games and reputations, beginning with the elementary concepts required to work with repeated games and coninuing to research frontier. Detailed theoretical arguments are complemented by copious exmaples and economic applications of the theory.
MoreLong description:
Personalized and continuing relationships play a central role in any society. Economists have built upon the theories of repeated games and reputations to make important advances in understanding such relationships. Repeated Games and Reputations begins with a careful development of the fundamental concepts in these theories, including the notions of a repeated game, strategy, and equilibrium. Mailath and Samuelson then present the classic folk theorem and reputation results for games of perfect and imperfect public monitoring, with the benefit of the modern analytical tools of decomposability and self-generation. They also present more recent developments, including results beyond folk theorems and recent work in games of private monitoring and alternative approaches to reputations. Repeated Games and Reputations synthesizes and unifies the vast body of work in this area, bringing the reader to the research frontier. Detailed arguments and proofs are given throughout, interwoven with examples, discussions of how the theory is to be used in the study of relationships, and economic applications. The book will be useful to those doing basic research in the theory of repeated games and reputations as well as those using these tools in more applied research.
Repeated Games and Reputaitons is a much-needed addition to ranks of advanced game theory books. It has features that will appeal to both economic theorists and applied economists in various fields. In addition to being a useful reference book, it would make a great textbook for a second field course in game theory and would be a useful supplementary reference in many microeconomic theory, macroeconomic theory and industrial organisation field courses.
