Re: Game theory saved the mainstream

[Doug Henwood <dhenwood@xxxxxxxxx>]

While we're at it, doesn't the "information assymmetry" stuff serve as a
polite way for talking about power and conflict, without getting to messy?

Doug

Doug Henwood [dhenwood@xxxxxxxxx]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)


On Fri, 21 Oct 1994, Eric Nilsson wrote:

> It seems that no one has been able to back up the claim that game theory
> subverted mainstream economics.  Therefore, perhaps it is time to offer the
> opposite hypothesis.
>
> To wit, game theory SAVED mainstream economics.
>
> Yes I know using "saved" overstates the case.  But still, much of the
> interesting stuff in the mainstream for a while has taken a game theory-like
> perspective.  Game theory seems to have reinvigorated the mainstream and has
> permitted it to claim that their research program is dealing with "truely
> social interactions" and not merely with atomized maximizers.
>
>
> Eric Nilsson
> Department of Economics
> California State University, San Bernardino
> enilsson@xxxxxxxxxxxxxxx
> 909-880-5564
>
>