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Books > Business & Economics > Business & management > Ownership & organization of enterprises
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Differential Games in Industrial Economics (Hardcover)
Loot Price: R2,530
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Differential Games in Industrial Economics (Hardcover)
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Game theory has revolutionised our understanding of industrial
organisation and the traditional theory of the firm. Despite these
advances, industrial economists have tended to rely on a restricted
set of tools from game theory, focusing on static and repeated
games to analyse firm structure and behaviour. Luca Lambertini, a
leading expert on the application of differential game theory to
economics, argues that many dynamic phenomena in industrial
organisation (such as monopoly, oligopoly, advertising, R&D
races) can be better understood and analysed through the use of
differential games. After illustrating the basic elements of the
theory, Lambertini guides the reader through the main models,
spanning from optimal control problems describing the behaviour of
a monopolist through to oligopoly games in which firms' strategies
include prices, quantities and investments. This approach will be
of great value to students and researchers in economics and those
interested in advanced applications of game theory.
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