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Author: Sergiu Hart
Publisher: World Scientific
ISBN: 9814401595
Category : Mathematics
Languages : en
Pages : 336
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Book Description
This volume collects almost two decades of joint work of Sergiu Hart and Andreu Mas-Colell on game dynamics and equilibria. The starting point was the introduction of the adaptive strategy called regret-matching, which on the one hand is simple and natural, and on the other is shown to lead to correlated equilibria. This initial finding — boundedly rational behavior that yields fully rational outcomes in the long run — generated a large body of work on the dynamics of simple adaptive strategies. In particular, a natural condition on dynamics was identified: uncoupledness, whereby decision-makers do not know each other's payoffs and utilities (so, while chosen actions may be observable, the motivations are not). This condition turns out to severely limit the equilibria that can be reached. Interestingly, there are connections to the behavioral and neurobiological sciences and also to computer science and engineering (e.g., via notions of “regret”). Simple Adaptive Strategies is self-contained and unified in its presentation. Together with the formal treatment of concepts, theorems, and proofs, significant space is devoted to informal explanations and illuminating examples. It may be used for advanced graduate courses — in game theory, economics, mathematics, computer science, engineering — and for further research. Contents:Correlated Equilibria:Existence of Correlated Equilibria (Sergiu Hart and David Schmeidler)Regret Matching:A Simple Adaptive Procedure Leading to Correlated Equilibrium (Sergiu Hart and Andreu Mas-Colell)A General Class of Adaptive Strategies (Sergiu Hart and Andreu Mas-Colell)A Reinforcement Procedure Leading to Correlated Equilibrium (Sergiu Hart and Andreu Mas-Colell)Regret-Based Continuous-Time Dynamics (Sergiu Hart and Andreu Mas-Colell)General Procedures Leading to Correlated Equilibria (Amotz Cahn)Uncoupled Dynamics:Uncoupled Dynamics Do Not Lead to Nash Equilibrium (Sergiu Hart and Andreu Mas-Colell)Stochastic Uncoupled Dynamics and Nash Equilibrium (Sergiu Hart and Andreu Mas-Colell)Uncoupled Automata and Pure Nash Equilibria (Yakov Babichenko)How Long to Equilibrium? The Communication Complexity of Uncoupled Equilibrium Procedures (Sergiu Hart and Yishay Mansour)Dynamics and Equilibria:Adaptive Heuristics (Sergiu Hart)Nash Equilibrium and Dynamics (Sergiu Hart) Readership: Graduate students and researchers in game theory, economic theory, econometrics, computer science and engineering. Keywords:Game Theory;Dynamics;Equilibrium;Nash Equilibrium;Correlated Equilibrium;Adaptive Dynamics;Simple Strategies;Regret-Based Strategies;Uncoupled Dynamics;Bounded RationalityKey Features:Prominent authors (two world-leading game theorists)Significant cutting-edge body of researchNovel ideas and insights that are useful and applicable in many areasReviews: "A fundamental issue with any concept of equilibrium, including Nash and correlated equilibria, is to define the process by which equilibrium is attained. The work of Professors Hart and Mas-Colell has been the deepest in this area, especially in defining conditions (‘uncoupled dynamics’) which reflect naturally the information available in real economic interactions. Their body of results is essential to study of these fundamental problems."; Kenneth J Arrow Stanford University, USA "In social as well as physical systems, equilibrium is of fundamental importance. Reaching equilibrium is at least as important as being there. In the last quarter century, research that investigates how social or game-theoretic equilibrium is reached has been spearheaded bySergiu Hart and Andreu Mas-Colell. The most outstanding works in this area are gathered in the book before us — a must for anyone interested in this dynamic area of emerging economic research." Robert J Aumann Hebrew University of Jerusalem, Israel "The question of learning and convergence to equilibrium is of critical importance to the foundations and applications of game theory. But after half a century of research there are no universally accepted answers: different assumptions about players' information and learning dynamics lead to different conclusions. The Hart and Mas-Colell book describes fascinating directions of research on this subject developed by two distinguished authors and their collaborators over the last dozen years." Ehud Kalai Northwestern University, USA "In this collection two leading game theorists show that various forms of equilibrium can be learned by simple and natural learning strategies that put minimal demands on the players' knowledge and level of rationality. It represents a major contribution to one of the most important topics in modern game theory."; Peyton Young Oxford University, UK
Author: Sergiu Hart
Publisher: World Scientific
ISBN: 9814401595
Category : Mathematics
Languages : en
Pages : 336
Get Book
Book Description
This volume collects almost two decades of joint work of Sergiu Hart and Andreu Mas-Colell on game dynamics and equilibria. The starting point was the introduction of the adaptive strategy called regret-matching, which on the one hand is simple and natural, and on the other is shown to lead to correlated equilibria. This initial finding — boundedly rational behavior that yields fully rational outcomes in the long run — generated a large body of work on the dynamics of simple adaptive strategies. In particular, a natural condition on dynamics was identified: uncoupledness, whereby decision-makers do not know each other's payoffs and utilities (so, while chosen actions may be observable, the motivations are not). This condition turns out to severely limit the equilibria that can be reached. Interestingly, there are connections to the behavioral and neurobiological sciences and also to computer science and engineering (e.g., via notions of “regret”). Simple Adaptive Strategies is self-contained and unified in its presentation. Together with the formal treatment of concepts, theorems, and proofs, significant space is devoted to informal explanations and illuminating examples. It may be used for advanced graduate courses — in game theory, economics, mathematics, computer science, engineering — and for further research. Contents:Correlated Equilibria:Existence of Correlated Equilibria (Sergiu Hart and David Schmeidler)Regret Matching:A Simple Adaptive Procedure Leading to Correlated Equilibrium (Sergiu Hart and Andreu Mas-Colell)A General Class of Adaptive Strategies (Sergiu Hart and Andreu Mas-Colell)A Reinforcement Procedure Leading to Correlated Equilibrium (Sergiu Hart and Andreu Mas-Colell)Regret-Based Continuous-Time Dynamics (Sergiu Hart and Andreu Mas-Colell)General Procedures Leading to Correlated Equilibria (Amotz Cahn)Uncoupled Dynamics:Uncoupled Dynamics Do Not Lead to Nash Equilibrium (Sergiu Hart and Andreu Mas-Colell)Stochastic Uncoupled Dynamics and Nash Equilibrium (Sergiu Hart and Andreu Mas-Colell)Uncoupled Automata and Pure Nash Equilibria (Yakov Babichenko)How Long to Equilibrium? The Communication Complexity of Uncoupled Equilibrium Procedures (Sergiu Hart and Yishay Mansour)Dynamics and Equilibria:Adaptive Heuristics (Sergiu Hart)Nash Equilibrium and Dynamics (Sergiu Hart) Readership: Graduate students and researchers in game theory, economic theory, econometrics, computer science and engineering. Keywords:Game Theory;Dynamics;Equilibrium;Nash Equilibrium;Correlated Equilibrium;Adaptive Dynamics;Simple Strategies;Regret-Based Strategies;Uncoupled Dynamics;Bounded RationalityKey Features:Prominent authors (two world-leading game theorists)Significant cutting-edge body of researchNovel ideas and insights that are useful and applicable in many areasReviews: "A fundamental issue with any concept of equilibrium, including Nash and correlated equilibria, is to define the process by which equilibrium is attained. The work of Professors Hart and Mas-Colell has been the deepest in this area, especially in defining conditions (‘uncoupled dynamics’) which reflect naturally the information available in real economic interactions. Their body of results is essential to study of these fundamental problems."; Kenneth J Arrow Stanford University, USA "In social as well as physical systems, equilibrium is of fundamental importance. Reaching equilibrium is at least as important as being there. In the last quarter century, research that investigates how social or game-theoretic equilibrium is reached has been spearheaded bySergiu Hart and Andreu Mas-Colell. The most outstanding works in this area are gathered in the book before us — a must for anyone interested in this dynamic area of emerging economic research." Robert J Aumann Hebrew University of Jerusalem, Israel "The question of learning and convergence to equilibrium is of critical importance to the foundations and applications of game theory. But after half a century of research there are no universally accepted answers: different assumptions about players' information and learning dynamics lead to different conclusions. The Hart and Mas-Colell book describes fascinating directions of research on this subject developed by two distinguished authors and their collaborators over the last dozen years." Ehud Kalai Northwestern University, USA "In this collection two leading game theorists show that various forms of equilibrium can be learned by simple and natural learning strategies that put minimal demands on the players' knowledge and level of rationality. It represents a major contribution to one of the most important topics in modern game theory."; Peyton Young Oxford University, UK
Author: Sergiu Hart
Publisher: World Scientific
ISBN: 9814390704
Category : Mathematics
Languages : en
Pages : 335
Get Book
Book Description
This volume collects almost two decades of joint work of Sergiu Hart and Andreu Mas-Colell on game dynamics and equilibria. The starting point was the introduction of the adaptive strategy called regret-matching, which on the one hand is simple and natural, and on the other is shown to lead to correlated equilibria. This initial finding OCo boundedly rational behavior that yields fully rational outcomes in the long run OCo generated a large body of work on the dynamics of simple adaptive strategies. In particular, a natural condition on dynamics was identified: uncoupledness, whereby decision-makers do not know each other''s payoffs and utilities (so, while chosen actions may be observable, the motivations are not). This condition turns out to severely limit the equilibria that can be reached. Interestingly, there are connections to the behavioral and neurobiological sciences and also to computer science and engineering (e.g., via notions of OC regretOCO).Simple Adaptive Strategies is self-contained and unified in its presentation. Together with the formal treatment of concepts, theorems, and proofs, significant space is devoted to informal explanations and illuminating examples. It may be used for advanced graduate courses OCo in game theory, economics, mathematics, computer science, engineering OCo and for further research.
Author: Sally M. Kane
Publisher: Springer Science & Business Media
ISBN: 9401730105
Category : Science
Languages : en
Pages : 277
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Book Description
Changes in climate and climate variability have an effect on people's behaviour around the world, and public institutions have an important part to play in influencing our ability to respond to and plan for climate risk. We may be able to reduce climate risk by seeking to mitigate the threat on the one hand, and by adapting to a changed climate on the other. Another theme of the book is the integrated role of adaptation and mitigation in framing issues and performing analyses. Adaptation costs fall most heavily on the poor and special attention needs to be paid to adaptation by the poorest populations. An integrating framework is also presented to provide the context for an expansive typology of terms to apply to adaptation. The 12 papers collected here use methods from a variety of disciplines and focus on different time frames for decision making, from short term to the very long term. Readership: Technically trained readers familiar with the policy issues surrounding climate change and interested in learning the scientific underpinnings of issues related to societal adaptation.
Author: Christian Straßer
Publisher: Springer Science & Business Media
ISBN: 3319007920
Category : Philosophy
Languages : en
Pages : 443
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Book Description
This book presents adaptive logics as an intuitive and powerful framework for modeling defeasible reasoning. It examines various contexts in which defeasible reasoning is useful and offers a compact introduction into adaptive logics. The author first familiarizes readers with defeasible reasoning, the adaptive logics framework, combinations of adaptive logics, and a range of useful meta-theoretic properties. He then offers a systematic study of adaptive logics based on various applications. The book presents formal models for defeasible reasoning stemming from different contexts, such as default reasoning, argumentation, and normative reasoning. It highlights various meta-theoretic advantages of adaptive logics over other logics or logical frameworks that model defeasible reasoning. In this way the book substantiates the status of adaptive logics as a generic formal framework for defeasible reasoning.
Author: Radek Matoušek
Publisher: Springer
ISBN: 3319580884
Category : Technology & Engineering
Languages : en
Pages : 278
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Book Description
This proceeding book contains a collection of selected accepted papers of the Mendel conference held in Brno, Czech Republic in June 2016. The proceedings book contains three chapters which present recent advances in soft computing including intelligent image processing. The Mendel conference was established in 1995 and is named after the scientist and Augustinian priest Gregor J. Mendel who discovered the famous Laws of Heredity. The main aim of the conference is to create a regular possibility for students, academics and researchers to exchange ideas and novel research methods on a yearly basis.
Author: John H. Miller
Publisher: Princeton University Press
ISBN: 1400835526
Category : Social Science
Languages : en
Pages : 285
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Book Description
This book provides the first clear, comprehensive, and accessible account of complex adaptive social systems, by two of the field's leading authorities. Such systems--whether political parties, stock markets, or ant colonies--present some of the most intriguing theoretical and practical challenges confronting the social sciences. Engagingly written, and balancing technical detail with intuitive explanations, Complex Adaptive Systems focuses on the key tools and ideas that have emerged in the field since the mid-1990s, as well as the techniques needed to investigate such systems. It provides a detailed introduction to concepts such as emergence, self-organized criticality, automata, networks, diversity, adaptation, and feedback. It also demonstrates how complex adaptive systems can be explored using methods ranging from mathematics to computational models of adaptive agents. John Miller and Scott Page show how to combine ideas from economics, political science, biology, physics, and computer science to illuminate topics in organization, adaptation, decentralization, and robustness. They also demonstrate how the usual extremes used in modeling can be fruitfully transcended.
Author: Martin Reeves
Publisher: Harvard Business Review Press
ISBN: 1625275870
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
You think you have a winning strategy. But do you? Executives are bombarded with bestselling ideas and best practices for achieving competitive advantage, but many of these ideas and practices contradict each other. Should you aim to be big or fast? Should you create a blue ocean, be adaptive, play to win—or forget about a sustainable competitive advantage altogether? In a business environment that is changing faster and becoming more uncertain and complex almost by the day, it’s never been more important—or more difficult—to choose the right approach to strategy. In this book, The Boston Consulting Group’s Martin Reeves, Knut Haanæs, and Janmejaya Sinha offer a proven method to determine the strategy approach that is best for your company. They start by helping you assess your business environment—how unpredictable it is, how much power you have to change it, and how harsh it is—a critical component of getting strategy right. They show how existing strategy approaches sort into five categories—Be Big, Be Fast, Be First, Be the Orchestrator, or simply Be Viable—depending on the extent of predictability, malleability, and harshness. In-depth explanations of each of these approaches will provide critical insight to help you match your approach to strategy to your environment, determine when and how to execute each one, and avoid a potentially fatal mismatch. Addressing your most pressing strategic challenges, you’ll be able to answer questions such as: • What replaces planning when the annual cycle is obsolete? • When can we—and when should we—shape the game to our advantage? • How do we simultaneously implement different strategic approaches for different business units? • How do we manage the inherent contradictions in formulating and executing different strategies across multiple businesses and geographies? Until now, no book brings it all together and offers a practical tool for understanding which strategic approach to apply. Get started today.
Author: Robert G. Watts
Publisher: Cambridge University Press
ISBN: 1139439804
Category : Law
Languages : en
Pages : 469
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Book Description
The vast majority of the world's climate scientists believe that the build-up of heat-trapping CO2 in the atmosphere will lead to global warming unless we burn less fossil fuels. At the same time, energy must be supplied in increasing amounts for the developing world to continue its growth. This book discusses the feasibility of increasingly efficient energy use and the potential for supplying energy from sources that do not introduce CO2. The book analyses the prospects for Earth-based renewables: solar, wind, biomass, hydroelectricity, geothermal and ocean energy. It then discusses nuclear fission and fusion, and the relatively new idea of harvesting solar energy on satellites or lunar bases. It will be essential reading for all those interested in energy issues, including engineers and physicists (electrical, mechanical, chemical, industrial, environmental, nuclear), and industrial leaders and politicians. It will also be used as a supplementary textbook on advanced courses on energy.
Author: John V. Lake
Publisher: John Wiley & Sons
ISBN: 0470515422
Category : Technology & Engineering
Languages : en
Pages : 259
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Book Description
This book investigates new agricultural systems such as organic and green manuring, as well as integrated pest management practices, and looks at how they can improve farm productivity against the enhancements for the environment. Much of the information presented focuses on microinvestigation of the soil, and on the effects of soil variability within fields on yields and nutrient flows.
Author: John Collins
Publisher: Springer Science & Business Media
ISBN: 354088713X
Category : Computers
Languages : en
Pages : 251
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Book Description
This book constitutes the thoroughly refereed post-conference proceedings of the 9th International Workshop on Agent-Mediated Electronic Commerce, AMEC IX, co-located with the Sixth International Joint Conference on Autonomous Agents and Multiagent Systems, AAMAS 2007, held in Honolulu, Hawai, in May 2007, and the 5th Workshop on Trading Agent Design and Analysis, TADA 2007, co-located with the Twenty-Second AAAI Conference on Artificial Intelligence, AAAI 2007, held in Vancouver, Canada, in July 2007. This volume presents 15 carefully revised and selected papers from these workshops. The primary and complementary goal of both workshops was to continue to bring together novel work from diverse fields on modeling, implementation and evaluation of computational trading institutions and/or agent strategies. The papers originating from AMEC focus on a large variety of issues on auctions, negotiation, and strategic behavior in electronic marketplaces. The papers originating from TADA reflect the effort of the community to design scenarios where trading agent designers and market designers can be pitched against one another.
