An overview of different moels and solution concepts of game theory is given together with a sketch of the major areas of application to political economy, as well as with some indications of major open problems.
This piece is designed to complement the essay of Robert Aumann which is more directly concerned with the mathematical methods of game theory. Although many references are given the reader may find more detail and references in a series of Rand reports on Game Theory in Economics [1].
An overview of different moels and solution concepts of game theory is given together with a sketch of the major areas of application to political economy, as well as with some indications of major open problems.
This piece is designed to complement the essay of Robert Aumann which is more directly concerned with the mathematical methods of game theory. Although many references are given the reader may find more detail and references in a series of Rand reports on Game Theory in Economics [1].