David M. Kreps has developed a text in microeconomics that is both
challenging and "user-friendly." The work is designed for the
first-year graduate microeconomic theory course and is accessible
to advanced undergraduates as well. Placing unusual emphasis on
modern noncooperative game theory, it provides the student and
instructor with a unified treatment of modern microeconomic
theory--one that stresses the behavior of the individual actor
(consumer or firm) in various institutional settings. The author
has taken special pains to explore the fundamental assumptions of
the theories and techniques studied, pointing out both strengths
and weaknesses. The book begins with an exposition of the standard
models of choice and the market, with extra attention paid to
choice under uncertainty and dynamic choice. General and partial
equilibrium approaches are blended, so that the student sees these
approaches as points along a continuum. The work then turns to more
modern developments. Readers are introduced to noncooperative game
theory and shown how to model games and determine solution
concepts. Models with incomplete information, the folk theorem and
reputation, and bilateral bargaining are covered in depth.
Information economics is explored next. A closing discussion
concerns firms as organizations and gives readers a taste of
transaction-cost economics.
General
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