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Game Theory for Applied Economists

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Title: Game Theory for Applied Economists
by Robert Gibbons
ISBN: 0-691-00395-5
Publisher: Princeton Univ Pr
Pub. Date: 13 July, 1992
Format: Paperback
Volumes: 1
List Price(USD): $37.50
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Average Customer Rating: 4.33 (15 reviews)

Customer Reviews

Rating: 5
Summary: The Best Book for Learning Applied Game Theory
Comment: For the advanced student with some knowledge of basic game theory, this is the best book on applications. There is really a rather amazing array of examples covered and worked out in detail on some major topics of noncooperative game theory -- static and dynamic games, with complete and incomplete information. Gibbons gets right down to the key moving parts of the models he presents and in the process provides great examples of what can be done with game theory.

This is not, however, the best book as an introduction to pure game theory, at any level (and obviously isn't meant to be). If you use it that way you may be disappointed. While it does cover the theory it uses, and pretty rigorously at that, it cannot by its nature get deep enough into the guts of equilibrium concepts and refinements for that purpose.

If it's used in conjunction with a pure game theory book, particularly Myerson, it will provide an excellent foundation for graduate students in social science, particularly economics. In fact it can be a very useful tool when using a more theoretically oriented book to get a better idea of what the basic concepts are really all about. (The discussion of sequential equilibrium and the intuitive criterion is especially good for building intuition.)

Rating: 4
Summary: Great Little Book- for Economists
Comment: Gibbons makes learning game theory easy. This book carefully explains both how to solve and the ideas behind game theoretic models. This enables students to better see how the math applies to how people vie in markets. It also makes it accessable to students who do not already know a great deal of math. There is alot more to game theory that what you see in this book. This book covers the concepts all should start with, no matter where you end up heading with game theory.

Rating: 3
Summary: Basic, but well written
Comment: This book provides a very simple, intuitive introduction to game theory, avoiding technical details. The author's style of writing is extremely clear. However, the book lacks sufficient rigor to make a good "stand-alone" introductory text for a graduate course in game theory. It would work well as a main text for an undergraduate course. Finally, most of the exercises in the book are well chosen and useful, unlike certain other texts on game theory I could mention.

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