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Author : Eddie Dekel
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (181 download)
Download or read book Essays on Choices and Beliefs in Uncertainty and Game Theory written by Eddie Dekel and published by . This book was released on 1986 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jacques Drèze
Publisher : CUP Archive
ISBN 13 : 9780521386975
Total Pages : 460 pages
Book Rating : 4.3/5 (869 download)
Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Author : George G. Szpiro
Publisher : Columbia University Press
ISBN 13 : 0231550979
Total Pages : 413 pages
Book Rating : 4.2/5 (315 download)
Download or read book Risk, Choice, and Uncertainty written by George G. Szpiro and published by Columbia University Press. This book was released on 2020-01-07 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: At its core, economics is about making decisions. In the history of economic thought, great intellectual prowess has been exerted toward devising exquisite theories of optimal decision making in situations of constraint, risk, and scarcity. Yet not all of our choices are purely logical, and so there is a longstanding tension between those emphasizing the rational and irrational sides of human behavior. One strand develops formal models of rational utility maximizing while the other draws on what behavioral science has shown about our tendency to act irrationally. In Risk, Choice, and Uncertainty, George G. Szpiro offers a new narrative of the three-century history of the study of decision making, tracing how crucial ideas have evolved and telling the stories of the thinkers who shaped the field. Szpiro examines economics from the early days of theories spun from anecdotal evidence to the rise of a discipline built around elegant mathematics through the past half century’s interest in describing how people actually behave. Considering the work of Locke, Bentham, Jevons, Walras, Friedman, Tversky and Kahneman, Thaler, and a range of other thinkers, he sheds light on the vast scope of discovery since Bernoulli first proposed a solution to the St. Petersburg Paradox. Presenting fundamental mathematical theories in easy-to-understand language, Risk, Choice, and Uncertainty is a revelatory history for readers seeking to grasp the grand sweep of economic thought.
Author : Jonathan Eaton
Publisher :
ISBN 13 :
Total Pages : 217 pages
Book Rating : 4.:/5 (751 download)
Download or read book Four essays in the theory of uncertainty and portfolio choice written by Jonathan Eaton and published by . This book was released on 1976 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 776 pages
Book Rating : 4.3/5 (91 download)
Download or read book American Doctoral Dissertations written by and published by . This book was released on 2002 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bruno Jullien
Publisher :
ISBN 13 :
Total Pages : 358 pages
Book Rating : 4.:/5 (229 download)
Download or read book Essays on the Theory of Choice Under Uncertainty and Strategic Interaction written by Bruno Jullien and published by . This book was released on 1988 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Petyon Young
Publisher : Elsevier
ISBN 13 : 0444537678
Total Pages : 1025 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of Game Theory written by Petyon Young and published by Elsevier. This book was released on 2014-10-01 with total page 1025 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ability to understand and predict behavior in strategic situations, in which an individual's success in making choices depends on the choices of others, has been the domain of game theory since the 1950s. Developing the theories at the heart of game theory has resulted in 8 Nobel Prizes and insights that researchers in many fields continue to develop. In Volume 4, top scholars synthesize and analyze mainstream scholarship on games and economic behavior, providing an updated account of developments in game theory since the 2002 publication of Volume 3, which only covers work through the mid 1990s. - Focuses on innovation in games and economic behavior - Presents coherent summaries of subjects in game theory - Makes details about game theory accessible to scholars in fields outside economics
Author : Michael Balch
Publisher : North-Holland
ISBN 13 :
Total Pages : 464 pages
Book Rating : 4.3/5 (91 download)
Download or read book Essays on Economic Behavior Under Uncertainty written by Michael Balch and published by North-Holland. This book was released on 1974 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Walter P. Heller
Publisher : Cambridge University Press
ISBN 13 : 9780521327046
Total Pages : 316 pages
Book Rating : 4.3/5 (27 download)
Download or read book Essays in Honor of Kenneth J. Arrow: Volume 3, Uncertainty, Information, and Communication written by Walter P. Heller and published by Cambridge University Press. This book was released on 1986-09-26 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third in a series of volumes published in honour of Professor Kenneth J. Arrow, each covering a different area of economic theory.
Author : Mark J. Machina
Publisher : Springer Science & Business Media
ISBN 13 : 1475745923
Total Pages : 373 pages
Book Rating : 4.4/5 (757 download)
Download or read book Beliefs, Interactions and Preferences written by Mark J. Machina and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beliefs, Interactions and Preferences in Decision Making mixes a selection of papers, presented at the Eighth Foundations and Applications of Utility and Risk Theory (`FUR VIII') conference in Mons, Belgium, together with a few solicited papers from well-known authors in the field. This book addresses some of the questions that have recently emerged in the research on decision-making and risk theory. In particular, authors have modeled more and more as interactions between the individual and the environment or between different individuals the emergence of beliefs as well as the specific type of information treatment traditionally called `rationality'. This book analyzes several cases of such an interaction and derives consequences for the future of decision theory and risk theory. In the last ten years, modeling beliefs has become a specific sub-field of decision making, particularly with respect to low probability events. Rational decision making has also been generalized in order to encompass, in new ways and in more general situations than it used to be fitted to, multiple dimensions in consequences. This book deals with some of the most conspicuous of these advances. It also addresses the difficult question to incorporate several of these recent advances simultaneously into one single decision model. And it offers perspectives about the future trends of modeling such complex decision questions. The volume is organized in three main blocks: The first block is the more `traditional' one. It deals with new extensions of the existing theory, as is always demanded by scientists in the field. A second block handles specific elements in the development of interactions between individuals and their environment, as defined in the most general sense. The last block confronts real-world problems in both financial and non-financial markets and decisions, and tries to show what kind of contributions can be brought to them by the type of research reported on here.
Author : Mark Machina
Publisher : Newnes
ISBN 13 : 0444536868
Total Pages : 897 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Author : Tapan Biswas
Publisher : Palgrave Macmillan
ISBN 13 : 9780312175771
Total Pages : 215 pages
Book Rating : 4.1/5 (757 download)
Download or read book Decision-making Under Uncertainty written by Tapan Biswas and published by Palgrave Macmillan. This book was released on 1997 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book systematically develops essential concepts in the economics of uncertainty and game theory. It also presents new ideas for further research. The first part deals with the economics of uncertainty, including a discussion of expected utility theory and non-expected utility theories, insurance market, portfolio analysis, principal-agent theory, as well as ethical issues presented in the context of choice under uncertainty. The second part develops an understanding of game theory as a tool for analysing the interactive decision-making process.
Author : Reinhard Selten
Publisher : Springer
ISBN 13 : 9783540550679
Total Pages : 438 pages
Book Rating : 4.5/5 (56 download)
Download or read book Rational Interaction written by Reinhard Selten and published by Springer. This book was released on 1992-02-10 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of essays in honor of John C. Harsanyi. Originally, we hoped that it would be ready in the year of his 70th birthday, but we did not quite succeed. It sometimes takes longer than anticipated to do things as well as one wants. I think that John Harsanyi will understand this. It is my desire to express our thanks to all those who helped to make the book possible, especially to the publishing house, the Springer Verlag. I am grateful to Hildegard Grober who assisted us in the organizational tasks connected to our editorial effort. I am deeply indebted to Horace W. Brock. His active support was extremely valuable. The results of my editorial efforts should partly be attributed to him. Reinhard Selten Table of Contents Introduction 1 I. Coopera. tive Game Theory The Consistent Shapley Value for Games without Side Payments by Michael Maschler and Guillermo Owen 5 Fictitious-Transfer Solutions in Cooperative Game Theory by Roger B. Myerson 13 The Finagle Point for Characteristic Function Games by Guillermo Owen 35 Voting by Count and Account by Bezalel Peleg 45 Fee Games: (N)TU-Games with Incomplete Information by Joachim Rosenmftller 53 A Non-Cooperative Interpretation of Value and Potential 83 by Sergiu Hart and Andreu Mas-Colell II.
Author : W. Leinfellner
Publisher : Springer Science & Business Media
ISBN 13 : 9401716544
Total Pages : 476 pages
Book Rating : 4.4/5 (17 download)
Download or read book Game Theory, Experience, Rationality written by W. Leinfellner and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: When von Neumann's and Morgenstern's Theory of Games and Economic Behavior appeared in 1944, one thought that a complete theory of strategic social behavior had appeared out of nowhere. However, game theory has, to this very day, remained a fast-growing assemblage of models which have gradually been united in a new social theory - a theory that is far from being completed even after recent advances in game theory, as evidenced by the work of the three Nobel Prize winners, John F. Nash, John C. Harsanyi, and Reinhard Selten. Two of them, Harsanyi and Selten, have contributed important articles to the present volume. This book leaves no doubt that the game-theoretical models are on the right track to becoming a respectable new theory, just like the great theories of the twentieth century originated from formerly separate models which merged in the course of decades. For social scientists, the age of great discover ies is not over. The recent advances of today's game theory surpass by far the results of traditional game theory. For example, modem game theory has a new empirical and social foundation, namely, societal experiences; this has changed its methods, its "rationality. " Morgenstern (I worked together with him for four years) dreamed of an encompassing theory of social behavior. With the inclusion of the concept of evolution in mathematical form, this dream will become true. Perhaps the new foundation will even lead to a new name, "conflict theory" instead of "game theory.
Author : Jeffrey Campbell Birchby
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (856 download)
Download or read book Essays in Experimental Examinations of Decision Making with Uncertainty written by Jeffrey Campbell Birchby and published by . This book was released on 2013 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation examines how individuals behave when facing choices with uncertainty, both within individual and group settings. These questions are probed by examining individuals in experimental situations, with payoffs depending partially upon the choices they make as well as some fundamental uncertainty. In particular, the research seeks to answer, to what extent do individuals consistently evaluate risky gambles, and how do individuals respond to group decisions with either an underlying unknown state and a policy whose payoff depends upon that state, or a coordination task. For both group tasks, the role of communication in overcoming uncertainty is studied. Within group settings, individuals were tasked with a Median game, a coordination problem with efficiency achieved only at an asymmetrical equilibrium, and an aggregation problem where groups would vote on a risky policy whose success depended upon an underlying state of the world that each member privately received signals about. For the Median game, communication results in large gains compared to the sessions with no communication; an effect that grew as play continued. The types of messages and strategies communicated are analyzed to see which were most effective. Within a group setting, individuals were given private signals about the probability of payoff-relevant states of the world with payoffs determined by the policy voted for by the group's majority. There was a strict incentive to aggregate information, however this was hindered by the inclusion of individual payoff biases, creating competing interests and raising a source for disinformation and thus distrust. The efficacy in achieving aggregation of various exogenously given networks was then tested. Within an individual setting, subjects evaluate scaled lottery questions with consistent aggregate responses that fit well within the established norms of Cumulative Prospect Theory. However, the aggregate data hide considerable individual inconsistency, with the individuals that fit best with a CPT interpretation those that are most variable and for which such a prediction would provide limited if any predictive power.
Author : Robert Nozick
Publisher : Harvard University Press
ISBN 13 : 9780674816534
Total Pages : 422 pages
Book Rating : 4.8/5 (165 download)
Download or read book Socratic Puzzles written by Robert Nozick and published by Harvard University Press. This book was released on 1997 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the foremost philosophers of our time, Robert Nozick continues the Socratic tradition of investigation. This volume, which illustrates the originality, force, and scope of his work, also displays Nozick's trademark blending of extraordinary analytical rigor with intellectual playfulness. As such, Socratic Puzzles testifies to the great pleasure that both doing and reading philosophy can be. Comprising essays and philosophical fictions, classics and new work, the book ranges from Socrates to W. V. Quine, from the implications of an Israeli kibbutz to the flawed arguments of Ayn Rand. Nozick considers the figure of Socrates himself as well as the Socratic method (why is it a "method" of getting at the truth?). Many of these essays bring classic methods to bear on new questions about choice. How should you choose in a disconcerting situation ("Newcomb's Problem") when your decisions are completely predictable? Why do threats and not offers typically coerce our choices? How do we make moral judgments when we realize that our moral principles have exceptions? Other essays present new approaches to familiar intellectual puzzles, from the stress on simplicity in scientific hypotheses to the tendency of intellectuals to oppose capitalism. As up to date as the latest reflections on animal rights; as perennial as the essentials of aesthetic merit (doggerel by Isaac Newton goes to prove that changing our view of the world won't suffice); as whimsical as a look at how some philosophical problems might appear from God's point of view: these essays attest to the timeliness and timelessness of Nozick's thinking. With a personal introduction, in which Nozick discusses the origins, tools, and themes of his work, Socratic Puzzles demonstrates how philosophy can constitute a way of life.
Author :
Publisher :
ISBN 13 :
Total Pages : 1242 pages
Book Rating : 4.:/5 (318 download)
Download or read book The American Economic Review written by and published by . This book was released on 1991 with total page 1242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
