David M. Kreps2024-07-252024-07-2520199780198283812http://digitallibrary.thecityschool.edu.pk:4000/handle/123456789/231"Game Theory and Economic Modelling" by David M. Kreps explores the foundational principles of game theory and its application in economic modeling. Kreps, a prominent economist, delves into how strategic interactions between rational decision-makers can be analyzed to understand various economic phenomena. The book covers key concepts such as Nash equilibrium, cooperative and non-cooperative games, and their implications for markets, bargaining, and competition. With clear and insightful explanations, Kreps provides a comprehensive framework that aids economists in formulating hypotheses, making predictions, and understanding the dynamics of complex economic systems through the lens of game theory.enBook