Competition, Collusion, and Game Theory

Business & Finance, Economics
Cover of the book Competition, Collusion, and Game Theory by Lester G Telser, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Lester G Telser ISBN: 9781351527163
Publisher: Taylor and Francis Publication: September 5, 2017
Imprint: Routledge Language: English
Author: Lester G Telser
ISBN: 9781351527163
Publisher: Taylor and Francis
Publication: September 5, 2017
Imprint: Routledge
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Taylor and Francis

Cover of the book Tourism, Poverty and Development by Lester G Telser
Cover of the book Endogenous Development by Lester G Telser
Cover of the book The History of Migration in Europe by Lester G Telser
Cover of the book From Mental Imagery to Spatial Cognition and Language by Lester G Telser
Cover of the book Ecohouse by Lester G Telser
Cover of the book The Guided Reader to Teaching and Learning History by Lester G Telser
Cover of the book Stone Vessels in the Levant by Lester G Telser
Cover of the book The Persistence of Nationalism by Lester G Telser
Cover of the book The United Nations and the Principles of International Law by Lester G Telser
Cover of the book Humanitarian Crises, Intervention and Security by Lester G Telser
Cover of the book Me by Lester G Telser
Cover of the book The Growth and Role of UK Financial Institutions, 1880-1966 by Lester G Telser
Cover of the book Pakistan's Stability Paradox by Lester G Telser
Cover of the book Counselling for Eating Disorders in Women by Lester G Telser
Cover of the book The Freud-Klein Controversies 1941-45 by Lester G Telser
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy