Summary in haiku form
Of grains of sand on the beach…
Buyers and sellers.
Summary in one paragraph
The strategic complications of game theory disappear when we move to a world of competitive markets in which buyers and sellers are small relative to the market as a whole. This means that buyers and sellers are all price-takers: individually they are too small to affect the market as a whole, so strategic behavior is pointless. The result is a straightforward analysis that applies to many kinds of markets and leads to an optimistic conclusion: competitive markets lead to Pareto efficient outcomes, which is an important part of good!
Notes on specific pages
Links to Tolstoy
