Essays On Game Theory And Its Applications In Economics

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Essays on Game Theory

Author : The late John F. Nash
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781956298
Total Pages : 116 pages
Book Rating : 4.9/5 (562 download)

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Book Synopsis Essays on Game Theory by : The late John F. Nash

Download or read book Essays on Game Theory written by The late John F. Nash and published by Edward Elgar Publishing. This book was released on 1996-01-01 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This short volume is very welcome . . . Most importantly, on pages 32-33, the volume reprints as an appendix to the journal article based on Nash's Princeton doctoral dissertation on non-cooperative games a section of the thesis on "motivation and interpretation" that was omitted from the article. An editorial note remarks mildly that "The missing section is of considerable interest". This section, not available in any other published source, makes the present volume indispensable for research libraries . . . Nash's Essays on Game Theory, dating from his years as a Princeton graduate student . . . has a lasting impact on economics and related fields unmatched by any series of articles written in such a brief time . . . To economists, his name will always bring to mind his game theory papers of the early 1950s. It is good to have these conveniently reprinted in this volume.' - Robert W. Dimand, The Economic Journal 'The news that John Nash was to share the 1994 Nobel Prize for Economics with John Harsanyi and Reinhard Selten was doubly welcome. It signalled not only that the brilliant achievements of his youth were to be recognized in a manner consistent with their significance, but that the long illness that clouded his later years had fallen into remission. I hope that this collection of his economic papers will serve as another reminder that John Nash has rejoined the intellectual community to which he has contributed so much.' - From the introduction by Ken Binmore Essays on Game Theory is a unique collection of seven of John Nash's essays which highlight his pioneering contribution to game theory in economics. Featuring a comprehensive introduction by Ken Binmore which explains and summarizes John Nash's achievements in the field of non-cooperative and cooperative game theory, this book will be an indispensable reference for scholars and will be welcomed by those with an interest in game theory and its applications to the social sciences.

Game Theory and Economic Behaviour

Author : Reinhard Selten (Economist, Germany)
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781008294
Total Pages : 924 pages
Book Rating : 4.0/5 (82 download)

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Book Synopsis Game Theory and Economic Behaviour by : Reinhard Selten (Economist, Germany)

Download or read book Game Theory and Economic Behaviour written by Reinhard Selten (Economist, Germany) and published by Edward Elgar Publishing. This book was released on 1999-03-24 with total page 924 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'These two volumes constitute an impressive collection of selected path-breaking works of Professor Selten. . . . Edward Elgar Publications deserve merit for bringing out most frequently-cited and prominent articles of Professor Selten in a conveniently available package.' - K. Ravikumar, Journal of Scientific and Industrial Research In 1994, the Nobel Prize was awarded to Reinhard Selten, John Nash and John Harsanyi, for pioneering analysis in game theory. Selten was the first to refine the Nash equilibrium concept of non-cooperative games for analysing dynamic strategic interaction and to apply these concepts to analyses of oligopoly.

Classics in Game Theory

Author : Harold William Kuhn
Publisher : Princeton University Press
ISBN 13 : 1400829151
Total Pages : 328 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Classics in Game Theory by : Harold William Kuhn

Download or read book Classics in Game Theory written by Harold William Kuhn and published by Princeton University Press. This book was released on 2020-11-10 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

How Reason Almost Lost Its Mind

Author : Paul Erickson
Publisher : University of Chicago Press
ISBN 13 : 022604677X
Total Pages : 268 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis How Reason Almost Lost Its Mind by : Paul Erickson

Download or read book How Reason Almost Lost Its Mind written by Paul Erickson and published by University of Chicago Press. This book was released on 2013-11-22 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States at the height of the Cold War, roughly between the end of World War II and the early 1980s, a new project of redefining rationality commanded the attention of sharp minds, powerful politicians, wealthy foundations, and top military brass. Its home was the human sciences—psychology, sociology, political science, and economics, among others—and its participants enlisted in an intellectual campaign to figure out what rationality should mean and how it could be deployed. How Reason Almost Lost Its Mind brings to life the people—Herbert Simon, Oskar Morgenstern, Herman Kahn, Anatol Rapoport, Thomas Schelling, and many others—and places, including the RAND Corporation, the Center for Advanced Study in the Behavioral Sciences, the Cowles Commission for Research and Economics, and the Council on Foreign Relations, that played a key role in putting forth a “Cold War rationality.” Decision makers harnessed this picture of rationality—optimizing, formal, algorithmic, and mechanical—in their quest to understand phenomena as diverse as economic transactions, biological evolution, political elections, international relations, and military strategy. The authors chronicle and illuminate what it meant to be rational in the age of nuclear brinkmanship.

Mathematical Economics and Game Theory

Author : R. Henn
Publisher : Springer Science & Business Media
ISBN 13 : 3642454941
Total Pages : 714 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Mathematical Economics and Game Theory by : R. Henn

Download or read book Mathematical Economics and Game Theory written by R. Henn and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 714 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Game Theory for Political Scientists

Author : James D. Morrow
Publisher : Princeton University Press
ISBN 13 : 0691213208
Total Pages : 400 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Game Theory for Political Scientists by : James D. Morrow

Download or read book Game Theory for Political Scientists written by James D. Morrow and published by Princeton University Press. This book was released on 2020-05-05 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Game theory is the mathematical analysis of strategic interaction. In the fifty years since the appearance of von Neumann and Morgenstern's classic Theory of Games and Economic Behavior (Princeton, 1944), game theory has been widely applied to problems in economics. Until recently, however, its usefulness in political science has been underappreciated, in part because of the technical difficulty of the methods developed by economists. James Morrow's book is the first to provide a standard text adapting contemporary game theory to political analysis. It uses a minimum of mathematics to teach the essentials of game theory and contains problems and their solutions suitable for advanced undergraduate and graduate students in all branches of political science. Morrow begins with classical utility and game theory and ends with current research on repeated games and games of incomplete information. The book focuses on noncooperative game theory and its application to international relations, political economy, and American and comparative politics. Special attention is given to models of four topics: bargaining, legislative voting rules, voting in mass elections, and deterrence. An appendix reviews relevant mathematical techniques. Brief bibliographic essays at the end of each chapter suggest further readings, graded according to difficulty. This rigorous but accessible introduction to game theory will be of use not only to political scientists but also to psychologists, sociologists, and others in the social sciences.

Jane Austen, Game Theorist

Author : Michael Suk-Young Chwe
Publisher : Princeton University Press
ISBN 13 : 0691162441
Total Pages : 290 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Jane Austen, Game Theorist by : Michael Suk-Young Chwe

Download or read book Jane Austen, Game Theorist written by Michael Suk-Young Chwe and published by Princeton University Press. This book was released on 2014-03-23 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the works of Jane Austen show that game theory is present in all human behavior Game theory—the study of how people make choices while interacting with others—is one of the most popular technical approaches in social science today. But as Michael Chwe reveals in his insightful new book, Jane Austen explored game theory's core ideas in her six novels roughly two hundred years ago—over a century before its mathematical development during the Cold War. Jane Austen, Game Theorist shows how this beloved writer theorized choice and preferences, prized strategic thinking, and analyzed why superiors are often strategically clueless about inferiors. Exploring a diverse range of literature and folktales, this book illustrates the wide relevance of game theory and how, fundamentally, we are all strategic thinkers.

Rock, Paper, Scissors

Author : Len Fisher
Publisher : Basic Books
ISBN 13 : 0786726938
Total Pages : 280 pages
Book Rating : 4.7/5 (867 download)

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Book Synopsis Rock, Paper, Scissors by : Len Fisher

Download or read book Rock, Paper, Scissors written by Len Fisher and published by Basic Books. This book was released on 2008-11-04 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praised by Entertainment Weekly as “the man who put the fizz into physics,” Dr. Len Fisher turns his attention to the science of cooperation in his lively and thought-provoking book. Fisher shows how the modern science of game theory has helped biologists to understand the evolution of cooperation in nature, and investigates how we might apply those lessons to our own society. In a series of experiments that take him from the polite confines of an English dinner party to crowded supermarkets, congested Indian roads, and the wilds of outback Australia, not to mention baseball strategies and the intricacies of quantum mechanics, Fisher sheds light on the problem of global cooperation. The outcomes are sometimes hilarious, sometimes alarming, but always revealing. A witty romp through a serious science, Rock, Paper, Scissors will both teach and delight anyone interested in what it what it takes to get people to work together.

Essays in Game Theory

Author : Nimrod Megiddo
Publisher : Springer Science & Business Media
ISBN 13 : 1461226481
Total Pages : 209 pages
Book Rating : 4.4/5 (612 download)

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Book Synopsis Essays in Game Theory by : Nimrod Megiddo

Download or read book Essays in Game Theory written by Nimrod Megiddo and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a collection of papers on game theory dedicated to Michael Maschler. Through his dedication and contributions to game theory, Maschler has become an important figure particularly in the area of cooperative games. Game theory has since become an important subject in operations research, economics and management science. As befits such a volume, the main themes covered are cooperative games, coalitions, repeated games, and a cost allocation games. All the contributions are authoritative surveys of a particular topic, so together they will present an invaluable overview of the field to all those working on game theory problems.

Essays in Economic Theory (Routledge Revivals)

Author : Vincent Crawford
Publisher : Routledge
ISBN 13 : 1317511050
Total Pages : 94 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis Essays in Economic Theory (Routledge Revivals) by : Vincent Crawford

Download or read book Essays in Economic Theory (Routledge Revivals) written by Vincent Crawford and published by Routledge. This book was released on 2015-08-11 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays in Economic Theory, first published in 1983, combines two essays on game theory and its applications in economics. The first, "Learning Behavior and the Noncooperative Equilibrium", considers whether an adaptive justification, like those commonly available for the optimization models frequently employed elsewhere in economics, can be found for the Nash noncooperative equilibrium. The second essay, "A Game of Fair Division", was motivated by the desire to find attractive methods for solving allocation problems and bargaining disputes that are simple enough to provide useful alternatives to existing methods. It studies in detail one such simple method: the classical "divide-and-choose" procedure. This book will be of interest to students of economics.

Economics as a Process

Author : Richard Langlois
Publisher : CUP Archive
ISBN 13 : 9780521378598
Total Pages : 292 pages
Book Rating : 4.3/5 (785 download)

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Book Synopsis Economics as a Process by : Richard Langlois

Download or read book Economics as a Process written by Richard Langlois and published by CUP Archive. This book was released on 1986 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consists of original and rev. versions of papers presented at a conference at Airlie House in Virginia, Mar. 1983. Includes bibliographies and index.

Game Theory and Fisheries

Author : Ussif Rashid Sumaila
Publisher : Routledge
ISBN 13 : 1136187286
Total Pages : 201 pages
Book Rating : 4.1/5 (361 download)

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Book Synopsis Game Theory and Fisheries by : Ussif Rashid Sumaila

Download or read book Game Theory and Fisheries written by Ussif Rashid Sumaila and published by Routledge. This book was released on 2013-08-22 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, there is a growing sense of urgency among fisheries scientists regarding the management of fish stocks, particularly among those who predict the imminent collapse of the fishing industry due to stock depletion. This book takes a game theoretic approach to discussing potential solutions to the problem of fish stock depletion. Acknowledging the classification of fish stocks as destructible renewable resources, these essays are concerned with the question of how much of the stock should be consumed today and how much should be left in place for the future. The book targets both economists and students of economics who are familiar with the tools of their trade but not necessarily familiar with game theory in the context of fisheries management. Importantly, the goal is not to give a summary evaluation of the current views of the ‘appropriate’ response to immediate policy questions, but rather to describe the ways in which the problems at hand can be productively formulated and approached using game theory and couched on real world fisheries. Game Theory and Fisheries consists of twelve previously published but updated articles in fisheries management, a number of which address a gap in the fisheries literature by modelling and analysing the exploitation of fishery resources in a two-agent fishery, in both cooperative and non-cooperative environments. The author’s work ultimately illustrates that the analysis of strategic interaction between those with access to shared fishery resources will be incomplete without the use of game theory.

Introducing Game Theory and its Applications

Author : Elliott Mendelson
Publisher : CRC Press
ISBN 13 : 1482285878
Total Pages : 272 pages
Book Rating : 4.4/5 (822 download)

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Book Synopsis Introducing Game Theory and its Applications by : Elliott Mendelson

Download or read book Introducing Game Theory and its Applications written by Elliott Mendelson and published by CRC Press. This book was released on 2016-02-03 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The mathematical study of games is an intriguing endeavor with implications and applications that reach far beyond tic-tac-toe, chess, and poker to economics, business, and even biology and politics. Most texts on the subject, however, are written at the graduate level for those with strong mathematics, economics, or business backgrounds. In

Rational Decisions

Author : Ken Binmore
Publisher : Princeton University Press
ISBN 13 : 1400833094
Total Pages : 214 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Rational Decisions by : Ken Binmore

Download or read book Rational Decisions written by Ken Binmore and published by Princeton University Press. This book was released on 2008-12-29 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to "look before you leap." If taken seriously, this view makes Bayesian decision theory inappropriate for the large worlds of scientific discovery and macroeconomic enterprise. When is it correct to use Bayesian decision theory--and when does it need to be modified? Using a minimum of mathematics, Rational Decisions clearly explains the foundations of Bayesian decision theory and shows why Savage restricted the theory's application to small worlds. The book is a wide-ranging exploration of standard theories of choice and belief under risk and uncertainty. Ken Binmore discusses the various philosophical attitudes related to the nature of probability and offers resolutions to paradoxes believed to hinder further progress. In arguing that the Bayesian approach to knowledge is inadequate in a large world, Binmore proposes an extension to Bayesian decision theory--allowing the idea of a mixed strategy in game theory to be expanded to a larger set of what Binmore refers to as "muddled" strategies. Written by one of the world's leading game theorists, Rational Decisions is the touchstone for anyone needing a concise, accessible, and expert view on Bayesian decision making.

Playing for Real

Author : K. G. Binmore
Publisher : Oxford University Press
ISBN 13 : 0195300572
Total Pages : 652 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis Playing for Real by : K. G. Binmore

Download or read book Playing for Real written by K. G. Binmore and published by Oxford University Press. This book was released on 2007-03-29 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ken Binmore's previous game theory textbook, Fun and Games (D.C. Heath, 1991), carved out a significant niche in the advanced undergraduate market; it was intellectually serious and more up-to-date than its competitors, but also accessibly written. Its central thesis was that game theory allows us to understand many kinds of interactions between people, a point that Binmore amply demonstrated through a rich range of examples and applications. This replacement for the now out-of-date 1991 textbook retains the entertaining examples, but changes the organization to match how game theory courses are actually taught, making Playing for Real a more versatile text that almost all possible course designs will find easier to use, with less jumping about than before. In addition, the problem sections, already used as a reference by many teachers, have become even more clever and varied, without becoming too technical. Playing for Real will sell into advanced undergraduate courses in game theory, primarily those in economics, but also courses in the social sciences, and serve as a reference for economists.

Theory of Games and Economic Behavior

Author : John Von Neumann
Publisher : Diana
ISBN 13 : 9785608789779
Total Pages : 660 pages
Book Rating : 4.7/5 (897 download)

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Book Synopsis Theory of Games and Economic Behavior by : John Von Neumann

Download or read book Theory of Games and Economic Behavior written by John Von Neumann and published by Diana. This book was released on 2020-01-29 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Fundamentals of Evolutionary Game Theory and its Applications

Author : Jun Tanimoto
Publisher : Springer
ISBN 13 : 4431549625
Total Pages : 223 pages
Book Rating : 4.4/5 (315 download)

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Book Synopsis Fundamentals of Evolutionary Game Theory and its Applications by : Jun Tanimoto

Download or read book Fundamentals of Evolutionary Game Theory and its Applications written by Jun Tanimoto and published by Springer. This book was released on 2015-10-23 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book both summarizes the basic theory of evolutionary games and explains their developing applications, giving special attention to the 2-player, 2-strategy game. This game, usually termed a "2×2 game” in the jargon, has been deemed most important because it makes it possible to posit an archetype framework that can be extended to various applications for engineering, the social sciences, and even pure science fields spanning theoretical biology, physics, economics, politics, and information science. The 2×2 game is in fact one of the hottest issues in the field of statistical physics. The book first shows how the fundamental theory of the 2×2 game, based on so-called replicator dynamics, highlights its potential relation with nonlinear dynamical systems. This analytical approach implies that there is a gap between theoretical and reality-based prognoses observed in social systems of humans as well as in those of animal species. The book explains that this perceived gap is the result of an underlying reciprocity mechanism called social viscosity. As a second major point, the book puts a sharp focus on network reciprocity, one of the five fundamental mechanisms for adding social viscosity to a system and one that has been a great concern for study by statistical physicists in the past decade. The book explains how network reciprocity works for emerging cooperation, and readers can clearly understand the existence of substantial mechanics when the term "network reciprocity" is used. In the latter part of the book, readers will find several interesting examples in which evolutionary game theory is applied. One such example is traffic flow analysis. Traffic flow is one of the subjects that fluid dynamics can deal with, although flowing objects do not comprise a pure fluid but, rather, are a set of many particles. Applying the framework of evolutionary games to realistic traffic flows, the book reveals that social dilemma structures lie behind traffic flow.