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A Course in Microeconomic Theory
David M. Kreps has developed a text in microeconomics that is both challenging and "user-friendly." The work is designed for the first-year graduate microeconomic theory course and is accessible to advanced undergraduates as well. Placing unusual emphasis on modern noncooperative game theory, it provides the student and instructor with a unified treatment of modern microeconomic theory--one that stresses the behavior of the individual actor (consumer or firm) in various institutional settings. The author has taken special pains to explore the fundamental assumptions of the theories and techniques studied, pointing out both strengths and weaknesses.
The book begins with an exposition of the standard models of choice and the market, with extra attention paid to choice under uncertainty and dynamic choice. General and partial equilibrium approaches are blended, so that the student sees these approaches as points along a continuum. The work then turns to more modern developments. Readers are introduced to noncooperative game theory and shown how to model games and determine solution concepts. Models with incomplete information, the folk theorem and reputation, and bilateral bargaining are covered in depth. Information economics is explored next. A closing discussion concerns firms as organizations and gives readers a taste of transaction-cost economics.
The book begins with an exposition of the standard models of choice and the market, with extra attention paid to choice under uncertainty and dynamic choice. General and partial equilibrium approaches are blended, so that the student sees these approaches as points along a continuum. The work then turns to more modern developments. Readers are introduced to noncooperative game theory and shown how to model games and determine solution concepts. Models with incomplete information, the folk theorem and reputation, and bilateral bargaining are covered in depth. Information economics is explored next. A closing discussion concerns firms as organizations and gives readers a taste of transaction-cost economics.
850 pages, Paperback
First published February 21, 1990
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Displaying 1 - 2 of 2 reviews
June 20, 2012
This is a beautiful graduate level microeconomic textbook. Among the graduate textbooks, this is the most suited for self study - though not as comprehensive in coverage as Microeconomic Theory, this text guides the reader through the hard core material in an easy and engaging style - of course, the treatment is rigorous and mathematical, but Kreps prose flows and it feels more like a set of lecture notes than a textbook. The chapters on game theory are particularly good.
October 16, 2013
Industry standard intermediate-advanced microeconomics textbook. Readable, comprehensive, excellent. I use this book at least several times a week at work.
Displaying 1 - 2 of 2 reviews