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Individuals, firms, governments and nations behave strategically, for good and bad. Over the last few decades, game theory has been constructed and progressively refined to become the major tool used by social scientists to understand, predict and regulate strategic interaction among agents who often have conflicting interests. In the surprisingly anodyne jargon of the theory, they 'play games'. This book offers an introduction to the basic tools of game theory and an overview of a number of applications to real-world cases, covering the areas of economics, politics and international...

The separation between ownership and control has become common practice over the last century, in most medium and large firms across the world. Throughout the twentieth century, the theory of the firm and the theory of industrial organization developed parallel and complementary views on managerial firms. This book offers a comprehensive exposition of this debate.

In its survey of strategic delegation in oligopoly games, An Economic Theory of Managerial Firms is able to offer a reinterpretation of a range of standard results in the light of the fact that the...

Industrial production and consumption patterns rely heavily on the intensive use of both renewable and non-renewable resources and the consequences for the environment can be serious. Following a long period of time where the profit incentives of firms have prevailed over preservation of the environment and the world s natural resources, a new consensus has emerged concerning the need to regulate firm behaviour, aimed at ensuring the sustainability of the economic system in the long run.

This book offers an exhaustive overview of current economic debate about these topics,...