Macroeconomic Policy Games

Subject and purpose of the book is the investigation of economic policy issues with the help of non-cooperative game theory.

The most important feature of our work is to look at the possible strategic interactions between various economic agents and/or institutions. We are also investigating the potential effects on efficiency and welfare if agents act in a strategic way. The method of non-cooperative game theory leads in general to results which differ from that derived in using "traditional" economic theory.