Essays in Economic Theory (Routledge Revivals)

Download or read book Essays in Economic Theory (Routledge Revivals) written by Vincent Crawford and published by Routledge. This book was released on 2015-08-11 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays in Economic Theory, first published in 1983, combines two essays on game theory and its applications in economics. The first, "Learning Behavior and the Noncooperative Equilibrium", considers whether an adaptive justification, like those commonly available for the optimization models frequently employed elsewhere in economics, can be found for the Nash noncooperative equilibrium. The second essay, "A Game of Fair Division", was motivated by the desire to find attractive methods for solving allocation problems and bargaining disputes that are simple enough to provide useful alternatives to existing methods. It studies in detail one such simple method: the classical "divide-and-choose" procedure. This book will be of interest to students of economics.