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The theory of competition has held a central place in economic analysis since Adam Smith. This book, written by one of the most distinguished of contemporary economic theorists, reports on a major research program to provide strategic foundations for the theory of perfect competition. Beginning with a concise survey of how the theory of competition has evolved, Gale makes extensive and rigorous use of dynamic matching and bargaining models to provide a more complete description of how a competitive equlibrium is achieved. Whereas economists have made use of a macroscopic description of markets in which certain behavioral characteristics, such as price-taking behavior, are taken for granted, Gale uses game theory to re-evaluate this assumption, beginning with individual agents and modelling their strategic interaction. A strategic foundation for competitive equilibrium shows how such interaction leads to competitive, price-taking behavior. Essential reading for graduate courses in game theory and general equilibrium.

Game theory --- Competition --- Equilibrium (Economics) --- Competition. --- Game theory. --- Management --- Business & Economics --- Management Styles & Communication --- Business, Economy and Management --- Economics --- AA / International- internationaal --- 380.22 --- 305.6 --- Concurrentie. Monopolie, duopolie, oligopolie. --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen. --- Games, Theory of --- Theory of games --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Competition (Economics) --- Competitiveness (Economics) --- Economic competition --- Economic aspects --- Mathematical models --- Mathematics --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Statics and dynamics (Social sciences) --- Commerce --- Conglomerate corporations --- Covenants not to compete --- Industrial concentration --- Monopolies --- Open price system --- Supply and demand --- Trusts, Industrial --- Concurrentie. Monopolie, duopolie, oligopolie --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen