The Core Theory in Economics: Problems and Solutions, 1st Edition (Hardback) book cover

The Core Theory in Economics

Problems and Solutions, 1st Edition

By Lester Telser


368 pages | 36 B/W Illus.

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An important tenet of game theory, core theory has nonetheless been all but ignored by the mainstream. Its basic premise is that individuals band together in order to promote their interests as much as possible. The return to an individual depends on competition among various coalitions for its membership, and a group of people can obtain a joint maximum by suitable coordinated actions.

In this key title, Lester Telser investigates the following issues:

  • Markets
  • Multiproduct Industry Total Cost Functions with Avoidable Costs
  • Critical Analyses of Noncooperative Equilibria.

Through these distinct sections, Telser skilfully brings the ideas of core theory to bear on a range of issues within economics – with particular emphasis on supply and demand and the way markets function.

Table of Contents

Part I: Introduction Part II: Markets Part III: Multiproduct Industry Total Cost Functions with Avoidable Costs Part IV: Critical Analyses of Noncooperative Equilibria

About the Author

Lester G. Telser is Emeritus Professor Economics at the University of Chicago, USA.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / Microeconomics
BUSINESS & ECONOMICS / Economics / General
POLITICAL SCIENCE / Economic Conditions