Essays in Economic Theory, first published in 1983, combines two
essays on game theory and its applications in economics. The first,
"Learning Behavior and the Noncooperative Equilibrium", considers
whether an adaptive justification, like those commonly available
for the optimization models frequently employed elsewhere in
economics, can be found for the Nash noncooperative equilibrium.
The second essay, "A Game of Fair Division", was motivated by the
desire to find attractive methods for solving allocation problems
and bargaining disputes that are simple enough to provide useful
alternatives to existing methods. It studies in detail one such
simple method: the classical "divide-and-choose" procedure. This
book will be of interest to students of economics.
General
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