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Subgame Consistent Economic Optimization: An Advanced Cooperative Dynamic Game Analysis 2012 Edition
Contributor(s): Yeung, David W. K. (Author), Petrosyan, Leon A. (Author)

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 ISBN: 0817682619     ISBN-13: 9780817682613
Publisher: Birkhauser
OUR PRICE: $52.24  

Binding Type: Hardcover
Published: December 2011
Qty:

Click for more in this series: Static & Dynamic Game Theory: Foundations & Applications
Additional Information
BISAC Categories:
- Mathematics | Applied
- Mathematics | Game Theory
- Business & Economics | Economics - General
Dewey: 330
LCCN: 2011942872
Series: Static & Dynamic Game Theory: Foundations & Applications
Physical Information: 0.94" H x 6.14" W x 9.21" L (1.66 lbs) 395 pages
 
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Publisher Description:

Various imperfections in existing market systems prevent the free market from serving as a truly efficient allocation mechanism, but optimization of economic activities provides an effective remedial measure. Cooperative optimization claims that socially optimal and individually rational solutions to decision problems involving strategic action over time exist. To ensure that cooperation will last throughout the agreement period, however, the stringent condition of subgame consistency is required.

This textbook presents a study of subgame consistent economic optimization, developing game-theoretic optimization techniques to establish the foundation for an effective policy menu to tackle the suboptimal behavior that the conventional market mechanism fails to resolve.
 
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