ABSTRACT
An important tenet of game theory, core theory has nonetheless been all but ignored by the mainstream. Its basic premise is that individuals band together in order to promote their interests as much as possible. The return to an individual depends on competition among various coalitions for its membership, and a group of people can obtain a joint maximum by suitable coordinated actions.
In this key title, Lester Telser investigates the following issues:
- Markets
- Multiproduct Industry Total Cost Functions with Avoidable Costs
- Critical Analyses of Noncooperative Equilibria.
Through these distinct sections, Telser skilfully brings the ideas of core theory to bear on a range of issues within economics – with particular emphasis on supply and demand and the way markets function.
TABLE OF CONTENTS
part I|59 pages
Introduction
part II|150 pages
Markets
part III|107 pages
Multiproduct Industry Total Cost Functions with Avoidable Costs
part IV|52 pages
Critical Analyses of Noncooperative Equilibria