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Economic Games and Strategic Behaviour - Theory and Application (Hardcover)
Loot Price: R3,494
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Economic Games and Strategic Behaviour - Theory and Application (Hardcover)
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Economic Games and Strategic Behaviour is a seminal volume which
introduces a model providing solutions to economic games subject to
repeated play. It develops a link between strategic bargaining and
the theory of self-enforcing contracts to give insights into the
long-term relationships between two parties, such as firms or
governments, who meet in a negotiating situation. The author
provides an original approach to strategic bargaining to find a
solution to economic games in which cooperation cannot be enforced
by a third party. He then applies this approach to a wide range of
real life situations including international environmental
agreements, bilateral trade agreements, collusion between firms in
industry and bargaining between buyers and sellers in the market
place. The author also discusses important policy implications as
well as setting an agenda for future research. Economic Games and
Strategic Behaviour is an original contribution to the existing
literature which will be welcomed for providing accurate outcomes
for situations in which conventional theories produce ambiguous
results. It will be of great interest to students and scholars of
microeconomics, game theory and industrial economics.
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