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Author : In-Koo Cho
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (781 download)
Download or read book Refinement of Sequential Equilibrium written by In-Koo Cho and published by . This book was released on 1986 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : E. van Damme
Publisher : Springer Science & Business Media
ISBN 13 : 3642499708
Total Pages : 161 pages
Book Rating : 4.6/5 (424 download)
Download or read book Refinements of the Nash Equilibrium Concept written by E. van Damme and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Jonathan A. K. Cave
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 (9 download)
Download or read book Refinements of Sequential Equilibrium in a Legal Settlements Game written by Jonathan A. K. Cave and published by . This book was released on 1987 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jonathan A. K. Cave
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (246 download)
Download or read book Refinements of Sequential Equilibrium in a Legal Settlements Case written by Jonathan A. K. Cave and published by . This book was released on 1986 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Muhammad Nazmul Khan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Perfect Sequential Equilibrium in Bargaining with Incomplete Information written by Muhammad Nazmul Khan and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I derive a refinement of sequential equilibria of a noncooperative bargaining game when one player has incomplete information about the time preference of the other player. I show that if the types for this latter player are drawn from some totally ordered and finite lattice, Grossman & Perry's (1986) Perfect Sequential Equilibrium selects the mixture (by prior belief over types) of the subgame perfect equilibria corresponding to the extrema of the set of types that survive elimination in preceding stage games. Additionally, if best responses are monotone in type for both, a properness condition á la Myerson (1978) can be imposed on the relative probabilities of out-of-equilibrium moves to harness the idea of threatening opponents by incredible belief.
Author : Tatsuro Ichiishi
Publisher : Academic Press
ISBN 13 : 1483295052
Total Pages : 449 pages
Book Rating : 4.4/5 (832 download)
Download or read book Game Theory and Applications written by Tatsuro Ichiishi and published by Academic Press. This book was released on 2014-06-28 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : George Joseph Mailath
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.:/5 (318 download)
Download or read book On Belief Based Refinements in Signaling Games written by George Joseph Mailath and published by . This book was released on 1991 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrés Perea
Publisher : Cambridge University Press
ISBN 13 : 1107008913
Total Pages : 581 pages
Book Rating : 4.1/5 (7 download)
Download or read book Epistemic Game Theory written by Andrés Perea and published by Cambridge University Press. This book was released on 2012-06-07 with total page 581 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first textbook to explain the principles of epistemic game theory.
Author : Srihari Govindan
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (317 download)
Download or read book Axiomatic Theory of Equilibrium Selection for Games with Two Players, Perfect Information, and Generic Payoffs written by Srihari Govindan and published by . This book was released on 2009 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George Joseph Mailath
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book How Proper is Sequential Equilibrium? written by George Joseph Mailath and published by . This book was released on 1994 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julio González-Díaz
Publisher : American Mathematical Society
ISBN 13 : 1470465736
Total Pages : 324 pages
Book Rating : 4.4/5 (74 download)
Download or read book An Introductory Course on Mathematical Game Theory written by Julio González-Díaz and published by American Mathematical Society. This book was released on 2021-10-22 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Game theory provides a mathematical setting for analyzing competition and cooperation in interactive situations. The theory has been famously applied in economics, but is relevant in many other sciences, such as political science, biology, and, more recently, computer science. This book presents an introductory and up-to-date course on game theory addressed to mathematicians and economists, and to other scientists having a basic mathematical background. The book is self-contained, providing a formal description of the classic game-theoretic concepts together with rigorous proofs of the main results in the field. The theory is illustrated through abundant examples, applications, and exercises. The style is distinctively concise, while offering motivations and interpretations of the theory to make the book accessible to a wide readership. The basic concepts and results of game theory are given a formal treatment, and the mathematical tools necessary to develop them are carefully presented. Cooperative games are explained in detail, with bargaining and TU-games being treated as part of a general framework. The authors stress the relation between game theory and operations research. The book is suitable for a graduate or an advanced undergraduate course on game theory.
Author : Giacomo Bonanno
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (951 download)
Download or read book Exploring the Gap Between Perfect Bayesian Equilibrium and Sequential Equilibrium written by Giacomo Bonanno and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In (5) a solution concept for extensive-form games was introduced, called perfect Bayesian equilibrium (PBE), and shown to be a strict refinement of subgame-perfect equilibrium; it was also shown that, in turn, sequential equilibrium (SE) is a strict refinement of PBE. In (6) the notion of PBE was used to provide a characterization of SE in terms of a strengthening the two defining components of PBE (besides sequential rationality), namely AGM consistency and Bayes consistency. In this paper we explore the gap between PBE and SE by identifying solution concepts that lie strictly between PBE and SE; these solution concepts embody a notion of "conservative" belief revision. Furthermore, we provide a method for determining if a plausibility order on the set of histories is choice measurable, which is a necessary condition for a PBE to be a SE.
Author : Larry Samuelson
Publisher : MIT Press
ISBN 13 : 9780262692199
Total Pages : 332 pages
Book Rating : 4.6/5 (921 download)
Download or read book Evolutionary Games and Equilibrium Selection written by Larry Samuelson and published by MIT Press. This book was released on 1997 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge. Larry Samuelson has been one of the main contributors to the evolutionary game theory literature. In Evolutionary Games and Equilibrium Selection, he examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. After providing an overview of the basic issues of game theory and a presentation of the basic models, the book addresses evolutionary stability, the dynamics of sample paths, the ultimatum game, drift, noise, backward and forward induction, and strict Nash equilibria.
Author : Jacob K. Goeree
Publisher : Princeton University Press
ISBN 13 : 1400880920
Total Pages : 328 pages
Book Rating : 4.4/5 (8 download)
Download or read book Quantal Response Equilibrium written by Jacob K. Goeree and published by Princeton University Press. This book was released on 2016-06-28 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is not perfectly predictable. In contrast, QRE models choice behavior as probabilistic and extends classical game theory into a more realistic and useful framework with broad applications for economics, political science, management, and other social sciences. Quantal Response Equilibrium spans the range from basic theoretical foundations to examples of how the principles yield useful predictions and insights in strategic settings, including voting, bargaining, auctions, public goods provision, and more. The approach provides a natural framework for estimating the effects of behavioral factors like altruism, reciprocity, risk aversion, judgment fallacies, and impatience. New theoretical results push the frontiers of models that include heterogeneity, learning, and well-specified behavioral modifications of rational choice and rational expectations. The empirical relevance of the theory is enhanced by discussion of data from controlled laboratory experiments, along with a detailed users' guide for estimation techniques. Quantal Response Equilibrium makes pioneering game-theoretic methods and interdisciplinary applications available to a wide audience.
Author : Andrew McLennan
Publisher : Springer
ISBN 13 : 9811307105
Total Pages : 441 pages
Book Rating : 4.8/5 (113 download)
Download or read book Advanced Fixed Point Theory for Economics written by Andrew McLennan and published by Springer. This book was released on 2018-07-03 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops the central aspect of fixed point theory – the topological fixed point index – to maximal generality, emphasizing correspondences and other aspects of the theory that are of special interest to economics. Numerous topological consequences are presented, along with important implications for dynamical systems. The book assumes the reader has no mathematical knowledge beyond that which is familiar to all theoretical economists. In addition to making the material available to a broad audience, avoiding algebraic topology results in more geometric and intuitive proofs. Graduate students and researchers in economics, and related fields in mathematics and computer science, will benefit from this book, both as a useful reference and as a well-written rigorous exposition of foundational mathematics. Numerous problems sketch key results from a wide variety of topics in theoretical economics, making the book an outstanding text for advanced graduate courses in economics and related disciplines.
Author : Drew Fudenberg
Publisher : MIT Press
ISBN 13 : 0262303760
Total Pages : 616 pages
Book Rating : 4.2/5 (623 download)
Download or read book Game Theory written by Drew Fudenberg and published by MIT Press. This book was released on 1991-08-29 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: This advanced text introduces the principles of noncooperative game theory in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. This advanced text introduces the principles of noncooperative game theory—including strategic form games, Nash equilibria, subgame perfection, repeated games, and games of incomplete information—in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. The analytic material is accompanied by many applications, examples, and exercises. The theory of noncooperative games studies the behavior of agents in any situation where each agent's optimal choice may depend on a forecast of the opponents' choices. "Noncooperative" refers to choices that are based on the participant's perceived selfinterest. Although game theory has been applied to many fields, Fudenberg and Tirole focus on the kinds of game theory that have been most useful in the study of economic problems. They also include some applications to political science. The fourteen chapters are grouped in parts that cover static games of complete information, dynamic games of complete information, static games of incomplete information, dynamic games of incomplete information, and advanced topics.
Author : Felix Munoz-Garcia
Publisher : Springer
ISBN 13 : 3319329634
Total Pages : 362 pages
Book Rating : 4.3/5 (193 download)
Download or read book Strategy and Game Theory written by Felix Munoz-Garcia and published by Springer. This book was released on 2016-08-10 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook presents worked-out exercises on game theory with detailed step-by-step explanations. While most textbooks on game theory focus on theoretical results, this book focuses on providing practical examples in which students can learn to systematically apply theoretical solution concepts to different fields of economics and business. The text initially presents games that are required in most courses at the undergraduate level and gradually advances to more challenging games appropriate for masters level courses. The first six chapters cover complete-information games, separately analyzing simultaneous-move and sequential-move games, with applications in industrial economics, law, and regulation. Subsequent chapters dedicate special attention to incomplete information games, such as signaling games, cheap talk games, and equilibrium refinements, emphasizing common steps and including graphical illustrations to focus students’ attention on the most relevant payoff comparisons at each point of the analysis. In addition, exercises are ranked according to their difficulty, with a letter (A-C) next to the exercise number. This allows students to pace their studies and instructors to structure their classes accordingly. By providing detailed worked-out examples, this text gives students at various levels the tools they need to apply the tenets of game theory in many fields of business and economics. This text is appropriate for introductory-to-intermediate courses in game theory at the upper undergraduate and master’s level.
