Chapter

The Successes of Game Theory

David M. Kreps

in Game Theory and Economic Modelling

Published in print October 1990 | ISBN: 9780198283812
Published online November 2003 | e-ISBN: 9780191596568 | DOI: http://dx.doi.org/10.1093/0198283814.003.0004

Series: Clarendon Lectures in Economics

 The Successes of Game Theory

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Illustrates some of the successes of non‐cooperative game theory in economics. Specifically, it discusses how non‐cooperative game theory has helped economists to understand dynamic competition, credibility and reputation, cooperation based on reciprocity and the threat of punishment, and interactions in which parties hold private information, including information about their own basic motivations.

Keywords: cooperation; credibility; dynamic competition; motivation; non‐cooperative game theory; private information; punishment; reciprocity; reputation

Chapter.  17731 words.  Illustrated.

Subjects: Microeconomics

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