microeconomic theory game theory

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1、CHAPTEREIGHTGameTheoryThischapterprovidesanintroductiontononcooperativegametheory,atoolusedtounderstandthestrategicinteractionsamongtwoormoreagents.Therangeofapplica-tionsofgametheoryhasbeengrowingconstantly,includingallareasofeconomics(fromlaboreconomicstomacroeconomics)andotherfieldssuch

2、aspoliticalscienceandbiology.Gametheoryisparticularlyusefulinunderstandingtheinteractionbetweenfirmsinanoligopoly,sotheconceptslearnedherewillbeusedextensivelyinChapter15.WebeginwiththecentralconceptofNashequilibriumandstudyitsapplicationinsim-plegames.WethengoontostudyrefinementsofNashequi

3、libriumthatareusedingameswithmorecomplicatedtimingandinformationstructures.BasicConceptsThusfarinPart3ofthistext,wehavestudiedindividualdecisionsmadeinisolation.Inthischapterwestudydecisionmakinginamorecomplicated,strategicsetting.Inastrategicset-ting,apersonmaynolongerhaveanobviouschoice

4、thatisbestforhimorher.Whatisbestforonedecision-makermaydependonwhattheotherisdoingandviceversa.Forexample,considerthestrategicinteractionbetweendriversandthepolice.Whetherdriversprefertospeedmaydependonwhetherthepolicesetupspeedtraps.Whetherthepolicefindspeedtrapsvaluabledependsonhowmuchdr

5、iversspeed.Thisconfusingcircularitywouldseemtomakeitdifficulttomakemuchheadwayinanalyzingstrategicbehavior.Infact,thetoolsofgametheorywillallowustopushtheanalysisnearlyasfar,forexample,asouranalysisofconsumerutilitymaximizationinChapter4.Therearetwomajortasksinvolvedwhenusinggametheorytoan

6、alyzeaneconomicsituation.Thefirstistodistillthesituationintoasimplegame.Becausetheanalysisinvolvedinstrategicsettingsquicklygrowsmorecomplicatedthaninsimpledecisionproblems,itisimportanttosimplifythesettingasmuchaspossiblebyretainingonlyafewessentialelements.Thereisacertainarttodistillingg

7、amesfromsituationsthatishardtoteach.Theexamplesinthetextandproblemsinthischaptercanserveasmodelsthatmayhelpinapproachingnewsituations.Thesecondtaskisto‘‘solve’’thegivengame,whichresultsinapredictionaboutwhatwillhappen.Tosolveagame,onetakesanequilibriumconcept(e.g.,N