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Author: Stephen E. Morris
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
Author: Stephen E. Morris
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
Author: Takashi Ui
Publisher:
ISBN:
Category :
Languages : en
Pages : 178
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Book Description
Author: Toshimasa Maruta
Publisher:
ISBN:
Category : Game theory
Languages : en
Pages : 20
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Book Description
Author: Haim Levy
Publisher: Springer Science & Business Media
ISBN: 0387293116
Category : Business & Economics
Languages : en
Pages : 439
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Book Description
This book is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: the stochastic dominance approach; the mean-variance approach; and the non-expected utility approach, focusing on prospect theory and its modified version, cumulative prospect theory. Each approach is discussed and compared. In addition, this volume examines cases in which stochastic dominance rules coincide with the mean-variance rule and considers how contradictions between these two approaches may occur.
Author: Songsak Sriboonchita
Publisher: CRC Press
ISBN: 9781420082678
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
Drawing from many sources in the literature, Stochastic Dominance and Applications to Finance, Risk and Economics illustrates how stochastic dominance (SD) can be used as a method for risk assessment in decision making. It provides basic background on SD for various areas of applications. Useful Concepts and Techniques for Economics ApplicationsThe
Author: Stephen Morris
Publisher:
ISBN:
Category :
Languages : en
Pages : 42
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Book Description
Author: Songsak Sriboonchitta
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: American Mathematical Society. Short Course
Publisher: American Mathematical Soc.
ISBN: 0821853260
Category : Mathematics
Languages : en
Pages : 186
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Book Description
This volume is based on lectures delivered at the 2011 AMS Short Course on Evolutionary Game Dynamics, held January 4-5, 2011 in New Orleans, Louisiana. Evolutionary game theory studies basic types of social interactions in populations of players. It combines the strategic viewpoint of classical game theory (independent rational players trying to outguess each other) with population dynamics (successful strategies increase their frequencies). A substantial part of the appeal of evolutionary game theory comes from its highly diverse applications such as social dilemmas, the evolution of language, or mating behaviour in animals. Moreover, its methods are becoming increasingly popular in computer science, engineering, and control theory. They help to design and control multi-agent systems, often with a large number of agents (for instance, when routing drivers over highway networks or data packets over the Internet). While these fields have traditionally used a top down approach by directly controlling the behaviour of each agent in the system, attention has recently turned to an indirect approach allowing the agents to function independently while providing incentives that lead them to behave in the desired way. Instead of the traditional assumption of equilibrium behaviour, researchers opt increasingly for the evolutionary paradigm and consider the dynamics of behaviour in populations of agents employing simple, myopic decision rules.
Author: Jacob K. Goeree
Publisher: Princeton University Press
ISBN: 069112423X
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is not perfectly predictable. In contrast, QRE models choice behavior as probabilistic and extends classical game theory into a more realistic and useful framework with broad applications for economics, political science, management, and other social sciences. Quantal Response Equilibrium spans the range from basic theoretical foundations to examples of how the principles yield useful predictions and insights in strategic settings, including voting, bargaining, auctions, public goods provision, and more. The approach provides a natural framework for estimating the effects of behavioral factors like altruism, reciprocity, risk aversion, judgment fallacies, and impatience. New theoretical results push the frontiers of models that include heterogeneity, learning, and well-specified behavioral modifications of rational choice and rational expectations. The empirical relevance of the theory is enhanced by discussion of data from controlled laboratory experiments, along with a detailed users' guide for estimation techniques. Quantal Response Equilibrium makes pioneering game-theoretic methods and interdisciplinary applications available to a wide audience.
Author: G. A. Whitmore
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
Theoretical foundations of stochastic dominance; Portfolio applications: empirical studies; Portfolio applications: computational aspects; Applications to financial management and capital markets; Applications in economic theory and analysis.
