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Bargaining and Markets : Economic Theory, Econometrics and Mathematical Economics - Martin J. Osborne

Bargaining and Markets

Economic Theory, Econometrics and Mathematical Economics

By: Martin J. Osborne (Editor), Ariel Rubinstein (Editor)

Hardcover Published: 28th April 1990
ISBN: 9780125286329
Number Of Pages: 236

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The formal theory of bargaining originated with John Nash's work in the early 1950s. This book discusses two recent developments in this theory. The first uses the tool of extensive games to construct theories of bargaining in which time is modeled explicitly. The second applies the theory of bargaining to the study of decentralized markets. Rather than surveying the field, the authors present a select number of models, each of which illustrates a key point. In addition, they give detailed proofs throughout the book.
Key Features
* Uses a small number of models, rather than a survey of the field, to illustrate key points
* Detailed proofs are given as explanations for the models
* Text has been class-tested in a semester-long graduate course

"This is a well written book on an important topic. Everyone should run out and buy a copy." --GAMES AND ECONOMIC BEHAVIOR "Osborne and Rubenstein's authoritative book represents a landmark in the evolution of bargaining theory. Future research in the field will undoubtedly take the ideas presented in this book as a starting point. Accordingly, it should be read and digested by anyone with a serious interest in formal models of the bargaining process." --CANADIAN JOURNAL OF ECONOMICS

Introduction
Bargaining Theory: The Axiomatic Approach
Nash's Solution
The Strategic Approach
A Model of Alternating Offers
The Relation between the Axiomatic and Strategic Approaches
A Strategic Model of Bargaining between Incompletely Informed Players
Models of Decentralized Trade: First Approach Using the Nash Solution
Strategic Bargaining in a Steady State Market
Strategic Bargaining in a Market with One-Time Entry
The Role of the Trading Procedure
The Role of Anonymity
References
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780125286329
ISBN-10: 0125286325
Series: Economic Theory, Econometrics and Mathematical Economics
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 236
Published: 28th April 1990
Publisher: Emerald Publishing Limited
Country of Publication: GB
Dimensions (cm): 22.86 x 14.61  x 1.91
Weight (kg): 0.39