Items related to Differential Games in Industrial Economics
Game theory has revolutionised our understanding of industrial organisation and the traditional theory of the firm. Despite these advances, industrial economists have tended to rely on a restricted set of tools from game theory, focusing on static and repeated games to analyse firm structure and behaviour. Luca Lambertini, a leading expert on the application of differential game theory to economics, argues that many dynamic phenomena in industrial organisation (such as monopoly, oligopoly, advertising, R&D races) can be better understood and analysed through the use of differential games. After illustrating the basic elements of the theory, Lambertini guides the reader through the main models, spanning from optimal control problems describing the behaviour of a monopolist through to oligopoly games in which firms' strategies include prices, quantities and investments. This approach will be of great value to students and researchers in economics and those interested in advanced applications of game theory.
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Book Description:
Differential game theory can be a very useful tool in industrial organisation. This volume revisits industrial economics using a dynamic approach to explain firms' strategies and their impact on the environment and trade flows. It will be of interest to researchers in economics, as well as advanced applications of game theory.
About the Author:
Luca Lambertini is Professor of Economics at the Universit... degli Studi, Bologna, Italy. He is a member of the International Federation of Automatic Control, collaborator of the Dynamic Systems Program at the International Institute for Applied Systems Analysis and Associate Editor of Dynamic Games and Applications. He has published extensively in international journals, including Automatica, the Journal of Economic Theory, European Journal of Operational Research and the Journal of Economic Dynamics and Control.
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- PublisherCambridge University Press
- Publication date2018
- ISBN 10 1316616495
- ISBN 13 9781316616499
- BindingPaperback
- Number of pages272
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Book Description Paperback. Condition: new. Paperback. Game theory has revolutionised our understanding of industrial organisation and the traditional theory of the firm. Despite these advances, industrial economists have tended to rely on a restricted set of tools from game theory, focusing on static and repeated games to analyse firm structure and behaviour. Luca Lambertini, a leading expert on the application of differential game theory to economics, argues that many dynamic phenomena in industrial organisation (such as monopoly, oligopoly, advertising, R&D races) can be better understood and analysed through the use of differential games. After illustrating the basic elements of the theory, Lambertini guides the reader through the main models, spanning from optimal control problems describing the behaviour of a monopolist through to oligopoly games in which firms' strategies include prices, quantities and investments. This approach will be of great value to students and researchers in economics and those interested in advanced applications of game theory. Differential game theory can be a very useful tool in industrial organisation. This volume revisits industrial economics using a dynamic approach to explain firms' strategies and their impact on the environment and trade flows. It will be of interest to researchers in economics, as well as advanced applications of game theory. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781316616499
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Differential Games in Industrial Economics [Paperback] Lambertini, Luca (English)
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Book Description Paperback / softback. Condition: New. New copy - Usually dispatched within 4 working days. A comprehensive and self-contained exposition of the applications of optimal control and differential game theory to industrial organisation and trade. Seller Inventory # B9781316616499
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