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Author: Eric van Damme
Publisher: Springer Science & Business Media
ISBN: 9783540538004
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
This book discusses the main shortcomings of the classical solution concept from noncooperative game theory (that of Nash equilibria) and provides a comprehensive study of the more refined concepts (such as sequential, perfect, proper and stable equilibria) that have been introduced to overcome these drawbacks. The plausibility of the assumptions underlying each such concept are discussed, desirable properties as well as deficiencies are illustrated, characterizations are derived and the relationships between the various concepts are studied. The first six chapters provide an informal discussion with many examples as well as a comprehensive overview for normal form games. The remaining chapters are devoted to specific applications, illustrating the strength (resp. weakness) of the various concepts.
Author: Eric van Damme
Publisher: Springer Science & Business Media
ISBN: 9783540538004
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
This book discusses the main shortcomings of the classical solution concept from noncooperative game theory (that of Nash equilibria) and provides a comprehensive study of the more refined concepts (such as sequential, perfect, proper and stable equilibria) that have been introduced to overcome these drawbacks. The plausibility of the assumptions underlying each such concept are discussed, desirable properties as well as deficiencies are illustrated, characterizations are derived and the relationships between the various concepts are studied. The first six chapters provide an informal discussion with many examples as well as a comprehensive overview for normal form games. The remaining chapters are devoted to specific applications, illustrating the strength (resp. weakness) of the various concepts.
Author: Eric van Damme
Publisher: Springer Science & Business Media
ISBN: 3642582427
Category : Mathematics
Languages : en
Pages : 354
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Book Description
I have been pleased with the favourable reception of the first edition of this book and I am grateful to have the opportunity to prepare this second edition. In this revised and enlarged edition I corrected some misprints and errors that occurred in the first edition (fortunately I didn't find too many) and I added a large number of notes that give the reader an impression of what kind of results have been obtained since the first edition was printed and that give an indication of the direction the subject is taking. Many of the notes discuss (or refer to papers discussing) applications of the refinements that are considered. Of course, it is the quantity and the quality of the insights and the applications that lend the refinements their validity. Although the guide to the applications is far from complete, the notes certainly allow the reader to form a good judgement of which refinements have really yielded new insights. Hence, as in the first edition, I will refrain from speculating on which refinements of Nash equilibria will survive in the long run. To defend this position let me also cite Binmore [1990] who compares writing about refinements to the Herculean task of defeating the nine-headed Hydra which grew too heads for each that was struck off. It is a pleasure to have the opportunity to thank my secretary, Marjoleine de Wit, who skilfully and, as always, cheerfully typed the manuscript and did the proofreading.
Author: E. van Damme
Publisher: Springer Science & Business Media
ISBN: 3642499708
Category : Business & Economics
Languages : en
Pages : 161
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Book Description
In this monograph, noncooperative games are studied. Since in a noncooperative game binding agreements are not possible, the solution of such a game has to be self enforcing, i. e. a Nash equilibrium (NASH [1950,1951J). In general, however, a game may possess many equilibria and so the problem arises which one of these should be chosen as the solution. It was first pointed out explicitly in SELTEN [1965J that I not all Nash equilibria of an extensive form game are qualified to be selected as the solution, since an equilibrium may prescribe irrational behavior at unreached parts of the game tree. Moreover, also for normal form games not all Nash equilibria are eligible, since an equilibrium need not be robust with respect to slight perturba tions in the data of the game. These observations lead to the conclusion that the Nash equilibrium concept has to be refined in order to obtain sensible solutions for every game. In the monograph, various refinements of the Nash equilibrium concept are studied. Some of these have been proposed in the literature, but others are presented here for the first time. The objective is to study the relations between these refine ments;to derive characterizations and to discuss the underlying assumptions. The greater part of the monograph (the chapters 2-5) is devoted to the study of normal form games. Extensive form games are considered in chapter 6.
Author: John Eatwell
Publisher: Springer
ISBN: 1349201812
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. It concentrates on the topic of game theory.
Author: Leon A. Petrosjan
Publisher: Springer Science & Business Media
ISBN: 3662052199
Category : Mathematics
Languages : en
Pages : 410
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Book Description
Since the first Congress in Zürich in 1897, the ICM has been an eagerly awaited event every four years. Many of these occasions are celebrated for historie developments and seminal contributions to mathematics. 2002 marks the year of the 24th ICM, the first of the new millennium. Also historie is the first ICM Satellite Conference devoted to game theory and applications. It is one of those rare occasions, in which masters of the field are able to meet under congenial surroundings to talk and share their gathered wisdom. As is usually the case in ICM meetings, participants of the ICM Satellite Conference on Game Theory and Applications (Qingdao, August 2(02) hailed from the four corners of the world. In addition to presentations of high qual ity research, the program also included twelve invited plenary sessions with distinguished speakers. This volume, which gathers together selected papers read at the conference, is divided into four sections: (I) Foundations, Concepts, and Structure. (II) Equilibrium Properties. (III) Applications to the Natural and Social Sciences. (IV) Computational Aspects of Games.
Author: Reinhard Selten
Publisher: Springer Science & Business Media
ISBN: 366207365X
Category : Business & Economics
Languages : en
Pages : 377
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Book Description
The four volumes of Game Equilibrium Models present applications of non-cooperative game theory. Problems of strategic interaction arising in biology, economics, political science and the social sciences in general are treated in 42 papers on a wide variety of subjects. Internationally known authors with backgrounds in various disciplines have contributed original research. The reader finds innovative modelling combined with advanced methods of analysis. The four volumes are the outcome of a research year at the Center for Interdisciplinary Studies of the University of Bielefeld. The close interaction of an international interdisciplinary group of researchers has produced an unusual collection of remarkable results of great interest for everybody who wants to be informed on the scope, potential, and future direction of work in applied game theory. Volume II Methods, Morals and Markets contains areas of research which will attract the interest of economists, political scientists, mathematicians and philosophers. The papers deal with the methodology of analysis of games, game theoretic contributions to fundamental ethical questions facing societies and game-theoretic analyses of market environments.
Author: Salvador Barbera
Publisher: Springer Science & Business Media
ISBN: 9781402077142
Category : Business & Economics
Languages : en
Pages : 652
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Book Description
The main purpose of the Handbook of Utility Theory is to make more widely available some recent developments in the area. The editors selected a list of topics that seemed ripe enough to be covered by review articles. Then they invited contributions from researchers whose expert work had come to their attention. So the list of topics and contributors is largely the editors' responsibility. Each contributor's chapter has been refereed, and revised according to the referees' remarks. Whereas Volume I of the Handbook of Utility Theory is largely concentrated on basic theory, the present volume is concerned with extensions and applications to other branches of economic theory. Taken together, these first two volumes contain all the purely theoretical material that the editors planned to cover. The chapters on experimental and empirical research on utility and the chapters on the history of utility theory will appear in Volume III.
Author: Sergiu Hart
Publisher: Springer Science & Business Media
ISBN: 3642604544
Category : Computers
Languages : en
Pages : 331
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Book Description
Issues relating to the emergence, persistence, and stability of cooperation among social agents of every type are widely recognized to be of paramount importance. They are also analytically difficult and intellectually challenging. This book, arising from a NATO Advanced Study Institute held at SUNY in 1994, is an up-to-date presentation of the contribution of game theory to the subject. The contributors are leading specialists who focus on the problem from the many different angles of game theory, including axiomatic bargaining theory, the Nash program of non-cooperative foundations, game with complete information, repeated and sequential games, bounded rationality methods, evolutionary theory, experimental approaches, and others. Together they offer significant progress in understanding cooperation.
Author: J.L. Kellogg Graduate School of Management
Publisher: Cambridge University Press
ISBN: 9780521635387
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
'Leading economists presenting fundamentally important issues in economic theory' is the theme of the Nancy Schwartz lectures series held annually at the J. L. Kellogg Graduate School of Management of Northwestern University. Reporting on lectures delivered in the years 1983 through 1997, this collection of essays discusses economic behavior at the individual and group level and the implications to the performance of economic systems. Using non-technical language, the speakers present theoretical, experimental, and empirical analysis of decision making under uncertainty and under full and bounded rationality, the influence of economic incentives and habits, and the effects of learning and evolution on dynamic choice. Perfect competition, economic development, social insurance and social mobility, and negotiation and economic survival, are major economic subjects analyzed through our understanding of economic behavior.
Author: Robert J. Aumann
Publisher: MIT Press
ISBN: 9780262011549
Category : Business & Economics
Languages : en
Pages : 806
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Book Description
Robert Aumann's career in game theory has spanned over research - from his doctoral dissertation in 1956 to papers as recent as January 1995. Threaded through all of Aumann's work (symbolized in his thesis on knots) is the study of relationships between different ideas, between different phenomena, and between ideas and phenomena. When you look closely at one scientific idea, writes Aumann, you find it hitched to all others. It is these hitches that I have tried to study.
