<i>'Martin Shubik has been one of the great pioneers in the application of game theory to economic problems. His work sheds considerable light on fundamental institutions such as the price system and money.'</i>
The book opens with an introduction to the career of Martin Shubik and the influences which have shaped his research. In this, and the chapters which follow, Martin Shubik stresses the importance of formulative models as playable games and the treatment of information to describe decision making among individuals, using examples from industrial organization. He demonstrates that games are a fruitful way to extend our knowledge of competition among the few. In addition, he considers the importance of gaming in economics and business suggesting that experimental games can be used to illustrate problems and principles in multi-person decision making.
This book will be welcomed by economists, game theorists, political scientists, and operations researchers.