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Game Theory for Applied Economists
This book introduces one of the most powerful tools of modern economics to a wide audience: those who will later construct or consume game-theoretic models. Robert Gibbons addresses scholars in applied fields within economics who want a serious and thorough discussion of game theory but who may have found other works overly abstract. Gibbons emphasizes the economic applications of the theory at least as much as the pure theory itself; formal arguments about abstract games play a minor role. The applications illustrate the process of model building--of translating an informal description of a multi-person decision situation into a formal game-theoretic problem to be analyzed. Also, the variety of applications shows that similar issues arise in different areas of economics, and that the same game-theoretic tools can be applied in each setting. In order to emphasize the broad potential scope of the theory, conventional applications from industrial organization have been largely replaced by applications from labor, macro, and other applied fields in economics. The book covers four classes of games, and four corresponding notions of equilibrium: static games of complete information and Nash equilibrium, dynamic games of complete information and subgame-perfect Nash equilibrium, static games of incomplete information and Bayesian Nash equilibrium, and dynamic games of incomplete information and perfect Bayesian equilibrium.
288 pages, Paperback
First published January 1, 1992
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Displaying 1 - 12 of 12 reviews
September 25, 2019
Not the most technical book but that is a good thing. It gets most of the concept out very clearly, you can follow along all the way through, I would even say that if you can get to the end and understand every definition of it, you are probably better equipped in game theory than most economists. Unfortunately because the simplicity in approach, going from this textbook to notation heavy one will not be easy but that does not make this one any less enjoyable. Probably the most fun game theory book out there.
May 16, 2017
A book definitely worth second-reading. This is a book used as reference for many MIT graduate level applied game theory classes (at least three departments are using is that I knew of). I like the way the book is organized and the illustrative
Easier than Fudenberg's intro to game theory. I would recommend this as an intro book for people new to game theory.
Easier than Fudenberg's intro to game theory. I would recommend this as an intro book for people new to game theory.
May 14, 2019
Very good textbook. Concise when it needs to be, wordy when it needs to be, and uses very good metaphors and examples. Very well organized.
May 6, 2020
کتابه دیگه ای نخوندم تو این Øوزه، اما اگر وولدریج رو استاندارد قضیه بدونیم، سه ستاره
November 25, 2024
Excellent, concise introduction to applied game theory. The examples draw from a variety of applications within economics, but primarily focus on industrial organization. Concepts are introduced in an intuitive manner before being formally defined and overtly technical aspects are avoided. Highly recommended to advanced undergraduate students or higher who need to know how to apply non-cooperative game theory without needing to know how every theorem is derived.
October 18, 2014
This is a classic in Theory of Games as part of the baggage any economist must have in his understanding about how the markets solve problems when there're market power to exert to improve profits. Duopoly an Oligopoly are solved as games. The complete isuue must cover Bayessian solutions and multi-step games.
Gibbons is one of the most complete texts currently used at Universities.
Gibbons is one of the most complete texts currently used at Universities.
May 27, 2008
Good book on game theory. Clear examples and text.
June 26, 2009
This is a nice resource for anyone interested in game theory. It goes through nice intuitive explanations of theory and application with a less rigor than other books on the subject.
March 29, 2011
Good, concise, nice reference without a lot of filler. Not necessarily a good place for beginners.
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July 4, 2012yet to solve
January 8, 2016
The concepts are explained nicely in laymen's terms. As someone who was never exposed to game theory before in the past, I found this text very helpful.
June 26, 2015
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