Cover: General Equilibrium and Game Theory: Ten Papers, from Harvard University PressCover: General Equilibrium and Game Theory in HARDCOVER

General Equilibrium and Game Theory

Ten Papers

Add to Cart

Product Details


$54.50 • £43.95 • €49.00

ISBN 9780674728738

Publication Date: 01/04/2016


256 pages

6-1/8 x 9-1/4 inches

18 line illustrations


Andreu Mas-Colell revolutionized our understanding of competitive markets, price formation, and the behavior of market participants. General Equilibrium and Game Theory offers readers a compendium of his most important scholarly contributions, gathering in a single volume the groundbreaking papers that have solidified his standing as one of the preeminent economic theorists of our time.

Built upon the foundations of neoclassical economics, Mas-Colell’s work is distinguished by a mathematical and analytical elegance that brings theory closer to real-world situations. He overturns the standard assumption of general equilibrium theory—that markets are perfectly competitive and their participants are perfectly rational—and concludes that neither the law of supply and demand nor the existence of equilibrium prices depends on the rationality of agents. Similarly, Mas-Colell (working with Sergiu Hart) challenges classical game theory’s reliance on rational behavior, demonstrating that adaptation and learning shape the dynamics of repeated games.

Addressing central questions of finance, trade, industrial organization, and welfare economics, Mas-Colell shows the surprising power and versatility of differentiability and linear-space mathematical techniques, and he emphasizes the fruitfulness of cooperative game-theory approaches, such as Shapley value theory and the Bargaining Set, for understanding competition and distribution. General Equilibrium and Game Theory is a signal contribution to economic theory and an invaluable resource for anyone wishing to study the craft of a master of economic modeling.

From Our Blog

Jacket: The Privileged Poor: How Elite Colleges Are Failing Disadvantaged Students, by Anthony Abraham Jack, from Harvard University Press

Book Club Spotlight: The Privileged Poor

As students around the world deliberate their options for further education, only made more challenging in a pandemic, we’re reminded that getting in is only half the battle. In The Privileged Poor: How Elite Colleges Are Failing Disadvantaged Students, Anthony Abraham Jack asks how—and why—do disadvantaged students struggle at elite colleges? What can schools can do differently if these students are to thrive? As back to school season begins, we spoke to two university book clubs that read and discussed The Privileged Poor this summer.