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: Princeton University Press
ISBN: 1400829461
Category : Business & Economics
Languages : en
Pages : 774
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Book Description
This is the classic work upon which modern-day game theory is based. What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, 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. This sixtieth anniversary edition includes not only the original text but also an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews and articles on the book that appeared at the time of its original publication in the New York Times, tthe American Economic Review, and a variety of other publications. Together, these writings provide readers a matchless opportunity to more fully appreciate a work whose influence will yet resound for generations to come.
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: Norman Macrae
Publisher: Plunkett Lake Press
ISBN:
Category : Biography & Autobiography
Languages : en
Pages : 253
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Book Description
John von Neumann was a Jewish refugee from Hungary — considered a “genius” like fellow Hungarians Leo Szilard, Eugene Wigner and Edward Teller — who played key roles developing the A-bomb at Los Alamos during World War II. As a mathematician at Princeton’s Institute for Advanced Study (where Einstein was also a professor), von Neumann was a leader in the development of early computers. Later, he developed the new field of game theory in economics and became a top nuclear arms policy adviser to the Truman and Eisenhower administrations. “I always thought [von Neumann’s] brain indicated that he belonged to a new species, an evolution beyond man. Macrae shows us in a lively way how this brain was nurtured and then left its great imprint on the world.” — Hans A. Bethe, Cornell University “The book makes for utterly captivating reading. Von Neumann was, of course, one of this century’s geniuses, and it is surprising that we have had to wait so long... for a fully fleshed and sympathetic biography of the man. But now, happily, we have one. Macrae nicely delineates the cultural, familial, and educational environment from which von Neumann sprang and sketches the mathematical and scientific environment in which he flourished. It’s no small task to render a genius like von Neumann in ordinary language, yet Macrae manages the trick, providing more than a glimpse of what von Neumann accomplished intellectually without expecting the reader to have a Ph.D. in mathematics. Beyond that, he captures von Neumann’s qualities of temperament, mind, and personality, including his effortless wit and humor. And [Macrae] frames and accounts for von Neumann’s politics in ways that even critics of them, among whom I include myself, will find provocative and illuminating.” — Daniel J. Kevles, California Institute of Technology “A lively portrait of the hugely consequential nonmathematician-physicist-et al., whose genius has left an enduring impress on our thought, technology, society, and culture. A double salute to Steve White, who started this grand book designed for us avid, nonmathematical readers, and to Norman Macrae, who brought it to a triumphant conclusion.” — Robert K. Merton, Columbia University “The first full-scale biography of this polymath, who was born Jewish in Hungary in 1903 and died Roman Catholic in the United States at the age of 53. And Mr. Macrae has some great stories to tell... Mr. Macrae’s biography has rescued a lot of good science gossip from probable extinction, and has introduced many of us to the life story of a man we ought to know better.” — Ed Regis, The New York Times “A nice and fascinating picture of a genius who was active in so many domains.” —Zentralblatt MATH “Biographer Macrae takes a ‘viewspaperman’ approach which stresses the context and personalities associated with von Neumann’s remarkable life, rather than attempting to give a detailed scholarly analysis of von Neumann’s papers. The resulting book is a highly entertaining account that is difficult to put down.” — Journal of Mathematical Psychology “A full and intimate biography of ‘the man who consciously and deliberately set mankind moving along the road that led us into the Age of Computers.’” — Freeman Dyson, Princeton, NJ “It is good to have a biography of one of the most important mathematicians of the twentieth century, even if it is a biography that focuses much more on the man than on the mathematics.” — Fernando Q. Gouvêa, Mathematical Association of America “Based on much research, his own and that of others (especially of Stephen White), Macrae has written a valuable biography of this remarkable genius of our century, without the opacity of technical (mathematical) dimensions that are part of the hero’s intellectual contributions to humanity. Interesting, informative, illuminating, and insightful.” — Choice Review “Macrae paints a highly readable, humanizing portrait of a man whose legacy still influences and shapes modern science and knowledge.” — Resonance, Journal of Science Education “In this affectionate, humanizing biography, former Economist editor Macrae limns a prescient pragmatist who actively fought against fascism and who advocated a policy of nuclear deterrence because he foresaw that Stalin’s Soviet Union would rapidly acquire the bomb and develop rocketry... Macrae makes [von Neumann’s] contributions accessible to the lay reader, and also discusses von Neumann’s relationships with two long-suffering wives, his political differences with Einstein and the cancer that killed him.” — Publishers Weekly “Macrae’s life of the great mathematician shows dramatically what proper care and feeding can do for an unusually capacious mind.” — John Wilkes, Los Angeles Times
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: Ariel Rubinstein
Publisher: Princeton University Press
ISBN: 0691154139
Category : Business & Economics
Languages : en
Pages : 167
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Book Description
Ariel Rubinstein's well-known lecture notes on microeconomics—now fully revised and expanded This book presents Ariel Rubinstein's lecture notes for the first part of his well-known graduate course in microeconomics. Developed during the fifteen years that Rubinstein taught the course at Tel Aviv University, Princeton University, and New York University, these notes provide a critical assessment of models of rational economic agents, and are an invaluable supplement to any primary textbook in microeconomic theory. In this fully revised and expanded second edition, Rubinstein retains the striking originality and deep simplicity that characterize his famously engaging style of teaching. He presents these lecture notes with a precision that gets to the core of the material, and he places special emphasis on the interpretation of key concepts. Rubinstein brings this concise book thoroughly up to date, covering topics like modern choice theory and including dozens of original new problems. Written by one of the world's most respected and provocative economic theorists, this second edition of Lecture Notes in Microeconomic Theory is essential reading for students, teachers, and research economists. Fully revised, expanded, and updated Retains the engaging style and method of Rubinstein's well-known lectures Covers topics like modern choice theory Features numerous original new problems—including 21 new review problems Solutions manual (available only to teachers) can be found at: http://gametheory.tau.ac.il/microTheory/.
Author: Banasri Basu
Publisher: Springer Science & Business Media
ISBN: 8847015014
Category : Business & Economics
Languages : en
Pages : 394
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Book Description
The combined efforts of the Physicists and the Economists in recent years in analyzing and modelling various dynamic phenomena in monetary and social systems have led to encouraging developments, generally classified under the title of Econophysics. These developments share a common ambition with the already established field of Quantitative Economics. This volume intends to offer the reader a glimpse of these two parallel initiatives by collecting review papers written by well-known experts in the respective research frontiers in one cover. This massive book presents a unique combination of research papers contributed almost equally by Physicists and Economists. Additional contributions from Computer Scientists and Mathematicians are also included in this volume. The book consists of two parts: the first part concentrates on Econophysics problems and the second part stresses on various quantitative issues in Economics. Both parts specialize on frontier problems in Games and Social Choices.
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: Roger B. Myerson
Publisher: Harvard University Press
ISBN: 0674728629
Category : Business & Economics
Languages : en
Pages : 588
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Book Description
Eminently suited to classroom use as well as individual study, Roger Myerson's introductory text provides a clear and thorough examination of the models, solution concepts, results, and methodological principles of noncooperative and cooperative game theory. Myerson introduces, clarifies, and synthesizes the extraordinary advances made in the subject over the past fifteen years, presents an overview of decision theory, and comprehensively reviews the development of the fundamental models: games in extensive form and strategic form, and Bayesian games with incomplete information. Game Theory will be useful for students at the graduate level in economics, political science, operations research, and applied mathematics. Everyone who uses game theory in research will find this book essential.
Author: Benoit Chevalier-Roignant
Publisher: MIT Press
ISBN: 0262297833
Category : Business & Economics
Languages : en
Pages : 517
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Book Description
A new paradigm for balancing flexibility and commitment in management strategy through the amalgamation of real options and game theory. Corporate managers who face both strategic uncertainty and market uncertainty confront a classic trade-off between commitment and flexibility. They can stake a claim by making a large capital investment today, influencing their rivals' behavior, or they can take a “wait and see” approach to avoid adverse market consequences tomorrow. In Competitive Strategy, Benoît Chevalier-Roignant and Lenos Trigeorgis describe an emerging paradigm that can quantify and balance commitment and flexibility, “option games,” by which the decision-making approaches of real options and game theory can be combined. The authors first discuss prerequisite concepts and tools from basic game theory, industrial organization, and real options analysis, and then present the new approach in discrete time and later in continuous time. Their presentation of continuous-time option games is the first systematic coverage of the topic and fills a significant gap in the existing literature. Competitive Strategy provides a rigorous yet pragmatic and intuitive approach to strategy formulation. It synthesizes research in the areas of strategy, economics, and finance in a way that is accessible to readers not necessarily expert in the various fields involved.
