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Nash Equilibrium and the History of Economic Theory

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  • R. MYERSON.

Abstract

John Nash’s formulation of noncooperative game theory was one of the great breakthroughs in the history of social science. Nash’s work in this area is reviewed in its historical context to better understand how the fundamental ideas of noncooperative game theory have been developed and how they have changed the course of economic theory. It is shown in particular how the scope of economics has changed from production and allocation of material goods to the study of rational competitive behavior in any institution of society.

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Bibliographic Info

Article provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.

Volume (Year): 6 (2010)
Issue (Month): ()
Pages:

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Handle: RePEc:nos:voprec:2010-06-3

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Web page: http://www.vopreco.ru/eng/year.html

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  1. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
  2. Robert J. Leonard, 1992. "Reading Cournot, Reading Nash / or / The Emergence and Stabilization of the Nash equilibrium," Cahiers de recherche du Département des sciences économiques, UQAM 9214, Université du Québec à Montréal, Département des sciences économiques.
  3. Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
  4. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, September.
  5. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
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