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It is impossible to understand modern economics without knowledge
of the basic tools of gametheory and mechanism design. This book
provides a graduate-level introduction to the economic modeling of
strategic behavior. The goal is to teach Economics doctoral
students the tools of game theory and mechanism design that all
economists should know.
It is impossible to understand modern economics without knowledge
of the basic tools of gametheory and mechanism design. This book
provides a graduate-level introduction to the economic modeling of
strategic behavior. The goal is to teach Economics doctoral
students the tools of game theory and mechanism design that all
economists should know.
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.
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