IDEAS home Printed from https://ideas.repec.org/p/zwi/fpcrep/022.html
   My bibliography  Save this paper

Noncooperative Game Theory: A Review with Potential Applications to Agricultural Markets

Author

Listed:
  • Richard J. Sexton

Abstract

This paper is a survey on noncooperative game theory relevant to agricultural markets. It is divided into two parts. Part I discussed types of noncooperative games and reviews important developments in noncooperative game theory solution concepts, including Nash equilibrium, subgame perfect equilibrium, and perfect Bayesian equilibrium. Strengths and weaknesses of game theory as a modelling tool are also assessed. Part II illustrates applications of the theory to agricultural markets. Game theory is relevant when markets are imperfectly competitive, and this paper argues that this condition is commonly met in agriculture. Specific topics of application include principal-agent models, vertical control, auctions, and bargaining. A shortened version of this paper was published in the Review of Marketing and Agricultural Economics.

Suggested Citation

  • Richard J. Sexton, 1993. "Noncooperative Game Theory: A Review with Potential Applications to Agricultural Markets," Food Marketing Policy Center Research Reports 022, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
  • Handle: RePEc:zwi:fpcrep:022
    as

    Download full text from publisher

    File URL: http://fmpc.uconn.edu/publications/rr/rr22.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Prasertsri, Peerapon & Kilmer, Richard L., 2008. "The Bargaining Strength of a Milk Marketing Cooperative," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), pages 1-7.
    2. John K. Horowitz & Richard E. Just & Sinaia Netanyahu, 1996. "Potential Benefits and Limitations of Game Theory in Agricultural Economics," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 753-760.
    3. Jiaoju Ge & Alfonso Flores-Lagunes & Kilmer, 2015. "An analysis of bargaining power for milk cooperatives and milk processors in Florida," Applied Economics, Taylor & Francis Journals, vol. 47(48), pages 5159-5168, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zwi:fpcrep:022. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/dauctus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.