A SURVEY OF DYNAMIC GAMES IN ECONOMICS

This book provides readers with a comprehensive survey of models of dynamic games in economics, including an extensive coverage of numerous fields of applications. It will also discuss and explain main concepts and techniques used in dynamic games, and inform readers of its major developments while equipping them with tools and ideas that will aid in the formulation of solutions for problems. A Survey of Dynamic Games in Economics will interest those who wish to study more about the conceptions, approaches and models that are applied in the domain of dynamic games.

Contents:

Basic Concepts
Dynamic Games in Environmental Economics
Dynamic Games in Natural Resources Economics
Dynamic Games in Trade and Development Economics
Dynamic Games in Industrial Organization
Dynamic Games in Public Economics
Dynamic Games in Macroeconomics

Readership: Graduate students in economics, and academic economists, who are interested in applications of game theory to diverse fields of economics (such as development economics, resource and environmental economics, industrial organization).

“The ideas underlying differential game arose from Isaacs' Rand Paper P 257, in 1951, inspired by von Neumann at Rand. Subsequently, the focus turns pragmatic, and main applications come from — understandably — economics, the discipline about interactive decision-making with foresight. Befittingly, as differential game approaches its 60th anniversary, this volume appears as the best possible introduction for the interested readers. Professor Long, a top economist with wide ranging contributions, has covered the topic with clarity, eloquence, thoroughness and impeccable rigor.”

Henry Y Wan, Jr.
Professor of Economics
Cornell University

“After introducing the various equilibrium concepts and clarifying which are vulnerable to the problems of imperfection and time-inconsistency, Long masterfully surveys contributions to dynamic games (both discrete and continuous time) in six sub-fields: Environmental, Natural Resources, Trade and Development, Industrial Organization, Public Economics, and Macro. The book is ideal for a dynamics unit in a graduate field course.”

Stephen W Salant
Professor of Economics
University of Michigan

“As economists, we understand that economic decision-making takes place in a dynamic and strategic environment. This is the focus of this wonderful survey that analyzes dynamic economic trade-offs in a game-theoretic setting for a variety of real world applications. Professor Long, one of the most distinguished economists in the field of economic dynamics, presents a masterpiece that I recommend to every graduate student and researcher interested in dynamic economic trade-offs to read. You will be fascinated by the deep economic insights you are able to get in a number of areas, such as environmental economics, trade theory, public economics and industrial organization.”

Engelbert J Dockner
Professor of Finance
Vienna University of Economics and Business

292pp		Pub. date: Sep 2010
ISBN: 978-981-4293-03-7 981-4293-03-2		US$99 / £68

292pp		Pub. date: Sep 2010
ISBN: 978-981-4293-04-4(ebook) 981-4293-04-0(ebook)		US$129

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