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reconcile game theory with one-person decision theory by viewing a game as a collection of one-person decision problems. As … natural as this approach may seem, it is hard to find game theory books that really implement this view. This book is a … wonderful exception, in which the transition between decision theory and game theory is both smooth and natural. It shows that …
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The formation of macroeconomic policy is conceptualized as on-going process of interaction between private individuals and a centralized policymaker. This interaction is inherently strategic in nature and lends itself to a game-theoretical treatment. Starting from the basic principle of rational...
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