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Author: John Von Neumann
Publisher: Diana
ISBN: 9785608789779
Category : Games & Activities
Languages : en
Pages : 660
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Book Description
This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper together blossomed, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.
Author: John Von Neumann
Publisher: Diana
ISBN: 9785608789779
Category : Games & Activities
Languages : en
Pages : 660
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Book Description
This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper together blossomed, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.
Author: Tatsuro Ichiishi
Publisher: Academic Press
ISBN: 1483295052
Category : Language Arts & Disciplines
Languages : en
Pages : 449
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Book Description
Game Theory and Applications outlines game theory and proves its validity by examining it alongside the neoclassical paradigm. This book contends that the neoclassical theory is the exceptional case, and that game theory may indeed be the rule. The papers and abstracts collected here explore its recent development and suggest new research directions. - Explains many of the recent central developments in game theory - Highlights new research directions in economic theory which surpass the neoclassical paradigm - Includes game-theoretical analyses in economics, political science, and biology - Written by leading game theorists, economists, political scientists, and biologists
Author: Colin F. Camerer
Publisher: Princeton University Press
ISBN: 1400840880
Category : Business & Economics
Languages : en
Pages : 569
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Book Description
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
Author: Charles A. Holt
Publisher: Princeton University Press
ISBN: 0691188971
Category : Business & Economics
Languages : en
Pages : 696
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Book Description
From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory. Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions. Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory. New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis Participatory experiments that connect behavioral theory and laboratory research Largely self-contained chapters that can each be covered in a single class Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided
Author: Fernando Vega-Redondo
Publisher: OUP Oxford
ISBN: 0191525081
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
This textbook for advanced undergraduate and postgraduate students of Evolutionary Game Theory covers recent developments in the field, with an emphasis on economic contexts and applications. It begins with the basic ideas as they originated within the field of theoretical biology and then proceeds to the formulation of a theoretical framework that is suitable for the study of social and economic phenomena from an evolutionary perspective. Core topics include the Evolutionary Stable Strategy (EES) and Replicator Dynamics (RD), deterministic dynamic models, and stochastic perturbations. A set of short appendices presents some of the technical material referred to in the main text. Evolutionary theory is widely viewed as one of the most promising appraoches to understanding bounded rationality, learning, and change in complex social environments. New avenues of research are suggested by Vega-Redondo, and plentiful exmples illustrate the theory's potential applications. The recent boom experienced by this dscipline makes the book's systematic presentation of its essential contributions vital reading for newcomer to the field.
Author: George J. Mailath
Publisher: Oxford University Press
ISBN: 0198041217
Category : Business & Economics
Languages : en
Pages : 664
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Book Description
Personalized and continuing relationships play a central role in any society. Economists have built upon the theories of repeated games and reputations to make important advances in understanding such relationships. Repeated Games and Reputations begins with a careful development of the fundamental concepts in these theories, including the notions of a repeated game, strategy, and equilibrium. Mailath and Samuelson then present the classic folk theorem and reputation results for games of perfect and imperfect public monitoring, with the benefit of the modern analytical tools of decomposability and self-generation. They also present more recent developments, including results beyond folk theorems and recent work in games of private monitoring and alternative approaches to reputations. Repeated Games and Reputations synthesizes and unifies the vast body of work in this area, bringing the reader to the research frontier. Detailed arguments and proofs are given throughout, interwoven with examples, discussions of how the theory is to be used in the study of relationships, and economic applications. The book will be useful to those doing basic research in the theory of repeated games and reputations as well as those using these tools in more applied research.
Author: Steve Tadelis
Publisher: Princeton University Press
ISBN: 0691129088
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
The definitive introduction to game theory This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss strategic and extensive form games with complete information, Bayesian games, and extensive form games with imperfect information. He covers a host of topics, including multistage and repeated games, bargaining theory, auctions, rent-seeking games, mechanism design, signaling games, reputation building, and information transmission games. Unlike other books on game theory, this one begins with the idea of rationality and explores its implications for multiperson decision problems through concepts like dominated strategies and rationalizability. Only then does it present the subject of Nash equilibrium and its derivatives. Game Theory is the ideal textbook for advanced undergraduate and beginning graduate students. Throughout, concepts and methods are explained using real-world examples backed by precise analytic material. The book features many important applications to economics and political science, as well as numerous exercises that focus on how to formalize informal situations and then analyze them. Introduces the core ideas and applications of game theory Covers static and dynamic games, with complete and incomplete information Features a variety of examples, applications, and exercises Topics include repeated games, bargaining, auctions, signaling, reputation, and information transmission Ideal for advanced undergraduate and beginning graduate students Complete solutions available to teachers and selected solutions available to students
Author: William Poundstone
Publisher: Anchor
ISBN: 038541580X
Category : Mathematics
Languages : en
Pages : 321
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Book Description
A masterful work of science writing that’s "both a fascinating biography of von Neumann, the Hungarian exile whose mathematical theories were building blocks for the A-bomb and the digital computer, and a brilliant social history of game theory and its role in the Cold War and nuclear arms race" (San Francisco Chronicle). Should you watch public television without pledging?...Exceed the posted speed limit?...Hop a subway turnstile without paying? These questions illustrate the so-called "prisoner's dilemma", a social puzzle that we all face every day. Though the answers may seem simple, their profound implications make the prisoner's dilemma one of the great unifying concepts of science. Watching players bluff in a poker game inspired John von Neumann—father of the modern computer and one of the sharpest minds of the century—to construct game theory, a mathematical study of conflict and deception. Game theory was readily embraced at the RAND Corporation, the archetypical think tank charged with formulating military strategy for the atomic age, and in 1950 two RAND scientists made a momentous discovery. Called the "prisoner's dilemma," it is a disturbing and mind-bending game where two or more people may betray the common good for individual gain. Introduced shortly after the Soviet Union acquired the atomic bomb, the prisoner's dilemma quickly became a popular allegory of the nuclear arms race. Intellectuals such as von Neumann and Bertrand Russell joined military and political leaders in rallying to the "preventive war" movement, which advocated a nuclear first strike against the Soviet Union. Though the Truman administration rejected preventive war the United States entered into an arms race with the Soviets and game theory developed into a controversial tool of public policy—alternately accused of justifying arms races and touted as the only hope of preventing them. Prisoner's Dilemma is the incisive story of a revolutionary idea that has been hailed as a landmark of twentieth-century thought.
Author: Harold William Kuhn
Publisher: Princeton University Press
ISBN: 1400829151
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
Classics in Game Theory assembles in one sourcebook the basic contributions to the field that followed on the publication of Theory of Games and Economic Behavior by John von Neumann and Oskar Morgenstern (Princeton, 1944). The theory of games, first given a rigorous formulation by von Neumann in a in 1928, is a subfield of mathematics and economics that models situations in which individuals compete and cooperate with each other. In the "heroic era" of research that began in the late 1940s, the foundations of the current theory were laid; it is these fundamental contributions that are collected in this volume. In the last fifteen years, game theory has become the dominant model in economic theory and has made significant contributions to political science, biology, and international security studies. The central role of game theory in economic theory was recognized by the award of the Nobel Memorial Prize in Economic Science in 1994 to the pioneering game theorists John C. Harsanyi, John Nash, and Reinhard Selten. The fundamental works for which they were honored are all included in this volume. Harold Kuhn, himself a major contributor to game theory for his reformulation of extensive games, has chosen eighteen essays that constitute the core of game theory as it exists today. Drawn from a variety of sources, they will be an invaluable tool for researchers in game theory and for a broad group of students of economics, political science, and biology.
Author: Steven Durlauf
Publisher: Springer
ISBN: 0230280781
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
