Cooperative Microeconomics A Game-Theoretic Introduction

Over the past fifty years game theory has had a major impact on the field of economics. It was for work in game theory that the 1994 Nobel Prize in Economics was awarded. Although non-cooperative game theory is better known, the theory of cooperative games has contributed a number of fundamental ideas to microeconomic analysis. "Cooperative Microeconomics is the definitive textbook on these contributions.Designed to be used by undergraduate and graduate students, the book provides a thorough introduction and overview of its subject. Herve Moulin distinguishes among three primary modes of cooperation: cooperation by direct agreements; cooperation by just, equitable compromise; and cooperation by decentralized behavior. This tri-modal methodology is applied successively to the exchange of private goods, the fair division of unproduced commodities, the cooperative production of private and public goods, and cost-sharing.Moulin proposes an elementary and self-contained exposition (supplemented by over 125 exercises) of the main cooperative concepts for microeconomic analysis, including core stability, deterministic solutions (such aMoulin, Herve is the author of 'Cooperative Microeconomics A Game-Theoretic Introduction' with ISBN 9780691034812 and ISBN 0691034818.