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Game Theory in the Social Sciences - Vol. 2 : A Game-Theoretic Approach to Political Economy (Game Theory in the Social Sciences, Vol 2)
Game Theory in the Social Sciences Vol 2 A GameTheoretic Approach to Political Economy - Game Theory in the Social Sciences, Vol 2 Author:Martin Shubik This companion volume to Shubik's masterful Game Theory in the Social Sciences sketches a unification of several branches of political economy on the basis of the theory of games. — In five parts it covers basic factors that make economic decision making different from properties of economic goods, money, and wealth - static, one-sided, op... more »en model of oligopolistic competition; cooperative models of closed economic systems; strategic models of closed economic systems, and externalities and public goods. This final section explores a number of applications, including land ownership, voting, and the assignment of joint costs.
The book concludes with an outline of a series of games within a game as a portrayal of a politico-economic process in a democratic society with a two-party system and public and private sectors. The approach adopted points the way toward a possible reconciliation of micro-and macroeconomics and an integration of economic, political, and sociological descriptions in the study of the short-term function of the state.
Martin Shubik is Seymour H. Knox Professor of Mathematical Institutional Economics at Yale University.« less