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Strategic Interaction and Markets

Jean J. Gabszewicz

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198233411
eISBN:
9780191596292
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0198233418.001.0001
Subject:
Economics and Finance, Microeconomics

Perfect competition provides a model of a frictionless economy in which economic agents behave independently of each other, abandoning to the market the task of coordinating their individual ... More


Playing for Real: Game Theory

Ken Binmore

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.001.0001
Subject:
Economics and Finance, Microeconomics

This book provides an introduction to game theory that seeks to answer all three questions: what is game theory about? How do I apply game theory? Why is game theory right? The topics covered include ... More


Imperfect Competition and General Equilibrium: Elements for a New Approach

Claude d'Aspremont, Dos Santos Ferreira Rodolphe, and Louis‐André Gérard‐Varet

in Economics Beyond the Millennium

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198292111
eISBN:
9780191596537
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292112.003.0009
Subject:
Economics and Finance, Macro- and Monetary Economics, Microeconomics

The authors study the introduction of price‐making agents into the general equilibrium model. They introduce a new equilibrium notion the ‘P equilibrium’, which allows one to consider firms who ... More


The New Regionalism

Richard Pomfret

in The Economics of Regional Trading Arrangements

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248872
eISBN:
9780191596797
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248877.003.0010
Subject:
Economics and Finance, International

Analyses the new regionalism that emerged in the mid‐1980s. By downplaying the significance of trade diversion and emphasizing scale‐based and pro‐competitive benefits of integration, the new ... More


GeneRal EQuilibrium Economics: Allowing for Imperfect Competition

Jean J. Gabszewicz

in Economics Beyond the Millennium

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198292111
eISBN:
9780191596537
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292112.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics, Microeconomics

The author argues that the only possible microeconomic theory is the one based on the general equilibrium model. After a historical account of efforts to incorporate agents with market power into the ... More


 Selling Dear

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0010
Subject:
Economics and Finance, Microeconomics

This chapter is an introduction to the theory of imperfectly competitive markets — a subject that was largely terra incognita before the advent of game theory. The models studied include those of ... More


The Years of High Theory: II

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print:
2005
Published Online:
October 2005
ISBN:
9780199279142
eISBN:
9780191602887
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199279144.003.0009
Subject:
Economics and Finance, History of Economic Thought

Deals with the reaction of the Neoclassical School to the criticism levied against it in the inter-war period. Emphasizes the developments of general equilibrium theory and the birth of the new ... More


Imperfect Competition and General Equilibrium

Jean J. Gabszewicz

in Strategic Interaction and Markets

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198233411
eISBN:
9780191596292
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198233418.003.0006
Subject:
Economics and Finance, Microeconomics

Extends the analysis of strategic competition when competition takes place simultaneously in several markets, as in the exchange process among several goods and several agents. First, the barter ... More


 Getting Locked In

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0001
Subject:
Economics and Finance, Microeconomics

This chapter uses the Prisoner's Dilemma as the linking idea in an overview of many of the topics covered later in the book. The basic ideas are that of a dominated strategy and a Pareto-efficient ... More


Debates on Perfect and Imperfect Competition

Anwar Shaikh

in Capitalism: Competition, Conflict, Crises

Published in print:
2016
Published Online:
March 2016
ISBN:
9780199390632
eISBN:
9780199390663
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199390632.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

The chapter begins by considering various alternative views of competition: Smith, Ricardo, and Marx, who emphasize the antagonistic nature of capitalism and the turbulent character of competitive ... More


Introduction to Part II

Margaret E. Slade

in Economics Beyond the Millennium

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198292111
eISBN:
9780191596537
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292112.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics, Microeconomics

Margaret Slade presents the papers in this section and contrasts those that deal with topics that have received extensive treatment in the literature such as those on game theory by Van Damme and on ... More


Trade and Development

Pranab Bardhan and Christopher Udry

in Development Microeconomics

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198773719
eISBN:
9780191595929
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198773714.003.0014
Subject:
Economics and Finance, Development, Growth, and Environmental

Starts with an illustration of the effect of growth on the terms of trade between a rich and a poor country, using a simple comparative‐static framework. Next, we study the pro‐competitive effects of ... More


Multiple Equilibria in a Dynamic Two Country Model

Kazumichi Iwasa and Kazuo Nishimura

in Dimensions of Economic Theory and Policy: Essays for Anjan Mukherji

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198073970
eISBN:
9780199081615
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198073970.003.0005
Subject:
Economics and Finance, Microeconomics

Some market distortional factors such as factor-generated externalities and imperfect competition can give rise to multiple equilibrium paths, or indeterminacy, in dynamic general equilibrium models. ... More


The Government as Purchaser

Peter Trepte

in Regulating Procurement: Understanding the Ends and Means of Public Procurement Regulation

Published in print:
2004
Published Online:
March 2012
ISBN:
9780198267751
eISBN:
9780191683350
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198267751.003.0002
Subject:
Law, Constitutional and Administrative Law

Procurement regulation has been developed largely by societies which rely on concepts based on welfare economics in the market economy and is currently being adopted in societies which are embracing ... More


The Years of High Theory: II

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198774556
eISBN:
9780191717383
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198774559.003.0009
Subject:
Economics and Finance, History of Economic Thought

Deals with the reaction of the Neoclassical School to the criticism levied against it in the inter‐war period. Emphasizes the developments of general equilibrium theory and the birth of the new ... More


Macroeconomic Theory

Jean-Pascal Benassy

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

This book is a primer in macroeconomics. It starts from essential macroeconomics and develops the central topics of modern macroeconomic theory in a simple and rigorous manner. Topics covered include ... More


Money and Cycles

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0012
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter extends the discussion on realistic economies with monetary exchange and assumptions of price flexibility mentioned in Chapter 10 by incorporating the three important features, namely ... More


Nonclearing Markets and Imperfect Competition

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter characterizes the Walrasian model and defines how it has to be generalized to deal with nonclearing markets and imperfect competition. It simply describes microfoundations of the more ... More


Buying Cheap and Selling Dear

Ken Binmore

in Playing for Real Coursepack Edition: A Text on Game Theory

Published in print:
2012
Published Online:
April 2015
ISBN:
9780199924530
eISBN:
9780190261399
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199924530.003.0007
Subject:
Economics and Finance, Microeconomics

This chapter explains the use of game theory in economics and shows its relevance to making money. It discusses several models such as the Edgeworth Box, the Walrasian equilibrium, the Cournot model, ... More


Equilibrium attainment vs. equilibrium necessities

Lawrence A. Boland

in Equilibrium Models in Economics: Purposes and Critical Limitations

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190274320
eISBN:
9780190274368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190274320.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter is about Kenneth Arrow’s 1959 article about price adjustment. This chapter uses that article to explain the logical requirements of any equilibrium model that purports to explain, say, ... More


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