Fr. 236.00

Competition, Collusion, and Game Theory

English · Hardback

Shipping usually within 1 to 3 weeks (not available at short notice)

Description

Read more










This original, quantitatively oriented analysis applies the theory of the core to define competition in order to describe and deduce the consequences of competitive and non-competitive behavior

List of contents










I: Applications of Core Theory to Market Exchange; II: Further Applications of Core Theory to Market Exchange; III: Applications of the Core to Oligopoly; IV: Theories of Expectations for N Competing Firms; V: Competition or Collusion?; VI: The Monopoly and Cournot-Nash Equilibria under Dynamic Conditions; VII: Estimates of Demand, Price Policy, and the Ratio of Price to Marginal Cost by Brand for Selected Consumer Goods; VIII: Some Determinants of the Returns to Manufacturing Industries

About the author










Lester G Telser

Summary

This original, quantitatively oriented analysis applies the theory of the core to define competition in order to describe and deduce the consequences of competitive and non-competitive behavior. Written by one of the world's leading mathematical economists, the book is mathematically rigorous. No other book is currently available giving a game theoretic analysis of competition with basic mathematical tools.
Economic theorists have been working on a new and fundamental approach to the theory of competition and market structure, an approach inspired by appreciation of the earlier work of Edgeworth and Bohm-Bawerk and making use of the new tools of the theory of games as developed by von Neumann and Morgenstern. This new approach bases itself on the analysis of competitive behavior and its implications for the characteristics of market equilibrium rather than on assumptions about the characteristics of competitive and monopolistic markets. Its central concept is "the theory of the core of the market," and it is concerned, with the conditions under which markets will or will not achieve the characteristics of uniform prices and welfare optimality.
Telser provides a number of insights into the symptoms of competition, when and how competition is bought into play, the mechanisms of competition and collusion, the results of competition and collusion, and the results of competition and collusion for the economy and for the general public. Many misconceptions about the nature of a competitive equilibrium are dispelled. The book is not only a mathematical analysis of core price theory but also contains extensive empirical research in private industry. These empirical findings, from research pursued over several years, enhance understanding of how competition works and of the determinants of the returns to manufacturing industries.

Product details

Authors Lester G Telser, Lester G. Telser
Publisher Taylor & Francis Ltd.
 
Languages English
Product format Hardback
Released 31.12.2018
 
EAN 9781138520943
ISBN 978-1-138-52094-3
No. of pages 399
Subjects Social sciences, law, business > Business > Economics

Economics, Business and Management, BUSINESS & ECONOMICS / Economics / General, Business & management

Customer reviews

No reviews have been written for this item yet. Write the first review and be helpful to other users when they decide on a purchase.

Write a review

Thumbs up or thumbs down? Write your own review.

For messages to CeDe.ch please use the contact form.

The input fields marked * are obligatory

By submitting this form you agree to our data privacy statement.