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The Problems of Game Theory

David M. Kreps

in Game Theory and Economic Modelling

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283812
eISBN:
9780191596568
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283814.003.0005
Subject:
Economics and Finance, Microeconomics

The weaknesses of game theory for purposes of economic modelling are discussed: the theory requires that protocols for interaction are precise (whereas in the real world they are often ambiguous). ... More


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