A Game-Theoretic Approach to Political Economy: Volume 2 of Game Theory in the Social... by Martin Shubik

A Game-Theoretic Approach to Political Economy: Volume 2 of Game Theory in the Social...

Features

Cover Type: Hard Cover with 744 pages

Published by: MIT Press January 1984

Written in: English

ISBN 10 Number: 0262192195

ISBN 13 Number: 978-0262192194

Product Description
This companion volume to Shubik's masterful Game Theory in the Social Sciences sketches a unification of several branches of political economy on the basis of the theory of games.

In five parts it covers basic factors that make economic decision making different from properties of economic goods, money, and wealth - static, one-sided, open model of oligopolistic competition; cooperative models of closed economic systems; strategic models of closed economic systems, and externalities and public goods. This final section explores a number of applications, including land ownership, voting, and the assignment of joint costs.

The book concludes with an outline of a series of games within a game as a portrayal of a politico-economic process in a democratic society with a two-party system and public and private sectors. The approach adopted points the way toward a possible reconciliation of micro-and macroeconomics and an integration of economic, political, and sociological descriptions in the study of the short-term function of the state.

Martin Shubik is Seymour H. Knox Professor of Mathematical Institutional Economics at Yale University. --This text refers to an out of print or unavailable edition of this title.

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Updated on 6-4-2008.