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Implications Of Non Bayesian Decision Theory For Normal Form Games
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Book Synopsis Foundations and Applications of Decision Theory by : C.A. Hooker
Download or read book Foundations and Applications of Decision Theory written by C.A. Hooker and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. INTRODUCTION In the Spring of 1975 we held an international workshop on the Foundations and Application of Decision Theory at the University of Western Ontario. To help structure the workshop into ordered and manageable sessions we distri buted the following statement of our goals to all invited participants. They in turn responded with useful revisions and suggested their own areas of interest. Since this procedure provided the eventual format of the sessions, we include it here as the most appropriate introduction to these collected papers result ing from the workshop. The reader can readily gauge the approximation to our mutual goals. 2. STATEMENT or OBJECTIVES AND RATIONALE (Attached to this statement is a bibliography; names of persons cited in the statement and writing in this century will be found referenced in the biblio graphy - certain 'classics' aside. ) 2. 1. Preamble We understand in the following the Theory of Decisions in a broader sense than is presently customary, construing it to embrace a general theory of deciSion-making, induding social, political and economic theory and applica tions. Thus, we subsume the Theory of Games under the head of Decision Theory, regarding it as a particularly clearly formulated version of part of the general theory of decision-making.
Book Synopsis Uncertainty in Economic Theory by : Itzhak Gilboa
Download or read book Uncertainty in Economic Theory written by Itzhak Gilboa and published by Routledge. This book was released on 2004-08-02 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together important papers, coupled with new introductions, in the massively influential area of uncertainty in economic theory. Seminal papers are available together for the first time in book format, with new introductions and under the steely editorship of Itzhak Gilboa - this book is a useful reference tool for economists all over the globe.
Book Synopsis Game Theory, Experience, Rationality by : W. Leinfellner
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.
Book Synopsis Ethics, Rationality, and Economic Behaviour by : Francesco Farina
Download or read book Ethics, Rationality, and Economic Behaviour written by Francesco Farina and published by Oxford University Press. This book was released on 1996 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The connection between economics and ethics is as old as economics itself, and central to both disciplines. The essays included in the present volume provide an analysis of the connections between ethics and economics as viewed from several different - oft
Book Synopsis The New Palgrave Dictionary of Economics by :
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Book Synopsis Realistic Decision Theory by : Paul Weirich
Download or read book Realistic Decision Theory written by Paul Weirich and published by Oxford University Press. This book was released on 2004-09-16 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within traditional decision theory, common decision principles -- e.g. the principle to maximize utility -- generally invoke idealization; they govern ideal agents in ideal circumstances. In Realistic Decision Theory, Paul Weirch adds practicality to decision theory by formulating principles applying to nonideal agents in nonideal circumstances, such as real people coping with complex decisions. Bridging the gap between normative demands and psychological resources, Realistic Decision Theory is essential reading for theorists seeking precise normative decision principles that acknowledge the limits and difficulties of human decision-making.
Book Synopsis Decision Processes in Economics by : Gianni Ricci
Download or read book Decision Processes in Economics written by Gianni Ricci and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a selection of the papers presented at the symposium on "Decision processes in Economics" which was held in Modena (Italy) on 9-10 October 1989. It coincided with the annual meeting of the italian group on Game Theory; the group is formed by economists, mathematicians, engineers and social scientists. One of the targets of the Meeting, and therefore of the book, is to create an opportunity for having together papers by scientists with an "optimal control" education and papers by theorists on refinement of equilibrium, on repeted games and other topics. These two modes of working on Games are quite different but we think that a unitary approch to Games can be given and this book is an attempt in this direction. Another important and updated issue which is emphisized in the book is the discussion of computation and efficiency of numerical methods in Games. Stochastic differential games are treated in the papers by Basar, Haurie -and Deissemberg. Basar considers a stochastic model of a conflict situation between the monetary policy maker (go vernment) and the responding agent (private sector). Because of asymmetry in the (stochastic) information available the Nash and the Stackelberg games become non standard stochastic diffe rential games. After the discussion of the conditions leading to a solution he provides a numerical example for the proposed game. Haurie considers a game where the observed state changes according to a stochastic jump process.
Book Synopsis Epistemic Game Theory by : Andrés Perea
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.
Book Synopsis Handbook of Game Theory with Economic Applications by : R.J. Aumann
Download or read book Handbook of Game Theory with Economic Applications written by R.J. Aumann and published by Elsevier. This book was released on 1992 with total page 824 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second of three volumes surveying the state of the art in Game Theory and its applications to many and varied fields, in particular to economics. The chapters in the present volume are contributed by outstanding authorities, and provide comprehensive coverage and precise statements of the main results in each area. The applications include empirical evidence. The following topics are covered: communication and correlated equilibria, coalitional games and coalition structures, utility and subjective probability, common knowledge, bargaining, zero-sum games, differential games, and applications of game theory to signalling, moral hazard, search, evolutionary biology, international relations, voting procedures, social choice, public economics, politics, and cost allocation. This handbook will be of interest to scholars in economics, political science, psychology, mathematics and biology. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes
Book Synopsis Advanced Microeconomics for Contract, Institutional, and Organizational Economics by : W. Bentley MacLeod
Download or read book Advanced Microeconomics for Contract, Institutional, and Organizational Economics written by W. Bentley MacLeod and published by MIT Press. This book was released on 2022-04-05 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
Book Synopsis Bayesian Inference in Dynamic Econometric Models by : Luc Bauwens
Download or read book Bayesian Inference in Dynamic Econometric Models written by Luc Bauwens and published by OUP Oxford. This book was released on 2000-01-06 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains an up-to-date coverage of the last twenty years advances in Bayesian inference in econometrics, with an emphasis on dynamic models. It shows how to treat Bayesian inference in non linear models, by integrating the useful developments of numerical integration techniques based on simulations (such as Markov Chain Monte Carlo methods), and the long available analytical results of Bayesian inference for linear regression models. It thus covers a broad range of rather recent models for economic time series, such as non linear models, autoregressive conditional heteroskedastic regressions, and cointegrated vector autoregressive models. It contains also an extensive chapter on unit root inference from the Bayesian viewpoint. Several examples illustrate the methods.
Book Synopsis Economic and Environmental Risk and Uncertainty by : Robert Nau
Download or read book Economic and Environmental Risk and Uncertainty written by Robert Nau and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1980s and 1990s have been a period of exciting new developments in the modelling of decision-making under risk and uncertainty. Extensions of the theory of expected utility and alternative theories of `non-expected utility' have been devised to explain many puzzles and paradoxes of individual and collective choice behaviour. This volume presents some of the best recent work on the modelling of risk and uncertainty, with applications to problems in environmental policy, public health, economics and finance. Eighteen papers by distinguished economists, management scientists, and statisticians shed new light on phenomena such as the Allais and St. Petersburg paradoxes, the equity premium puzzle, the demand for insurance, the valuation of public health and safety, and environmental goods. Audience: This work will be of interest to economists, management scientists, risk and policy analysts, and others who study risky decision-making in economic and environmental contexts.
Book Synopsis Methods in Experimental Economics by : Joachim Weimann
Download or read book Methods in Experimental Economics written by Joachim Weimann and published by Springer. This book was released on 2019-07-12 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a hands-on and intuitive overview of the methodological foundations of experimental economics. Experimental economic research has been an integral part of economic science for quite some time and is gaining more and more attention in related disciplines. The book addresses the design and execution of experiments, the evaluation of experimental data and the equipment of an experimental laboratory. It illustrates the challenges involved in designing and conducting experiments and helps the reader to address them in practice.
Book Synopsis The Logic of Strategy by : Cristina Bicchieri
Download or read book The Logic of Strategy written by Cristina Bicchieri and published by Oxford University Press. This book was released on 1999-09-02 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited by three leading figures in the field, this exciting volume presents cutting-edge work in decision theory by a distinguished international roster of contributors. These mostly unpublished papers address a host of crucial areas in the contemporary philosophical study of rationality and knowledge. Topics include causal versus evidential decision theory, game theory, backwards induction, bounded rationality, counterfactual reasoning in games and in general, analyses of the famous common knowledge assumptions in game theory, and evaluations of the normal versus extensive form formulations of complex decision problems.
Book Synopsis Game Theory, Diplomatic History and Security Studies by : Frank C. Zagare
Download or read book Game Theory, Diplomatic History and Security Studies written by Frank C. Zagare and published by Oxford University Press. This book was released on 2018-12-13 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Known as the science of strategy, game theory is a branch of mathematics that has gained broad acceptance as a legitimate methodological tool, and has been widely adapted by a number of other fields. Frank C. Zagare provides an introduction to the application of game theory in the fields of security studies and diplomatic history, demonstrating the advantages of using a formal game-theoretic framework to explain complex events and strategic relationships. Comprised of three parts, the first illustrates the basic concepts of game theory, initially with abstract examples but later in the context of real world foreign policy decision-making. The author highlights the methodological problems of using game theory to construct an analytic narrative and the advantages of working around these obstacles. Part II develops three extended case studies that illustrate the theory at work: the First Moroccan Crisis of 1905-1906, the July Crisis of 1914, and the Cuban Missile Crisis of 1962. Finally, in Part III, Zagare describes a general theory of interstate conflict initiation, limitation, escalation, and resolution and rebuts criticisms of the methodology. Logically demanding, Game Theory, Diplomatic History and Security Studies conveys an intuitive understanding of the theory of games through the use of real-world examples to exemplify the 'theory in action'.
Book Synopsis Cognitive Economics by : Paul Bourgine
Download or read book Cognitive Economics written by Paul Bourgine and published by Springer Science & Business Media. This book was released on 2013-03-20 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The social sciences study knowing subjects and their interactions. A "cog nitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive processes of individuals in economic theory, both on the level of the agent and on the level of their dynamic interactions and the resulting collective phenomena. This is an ambitious research programme that aims to link two levels of com plexity: the level of cognitive phenomena as studied and tested by cognitive science, and the level of collective phenomena produced by the economic in teractions between agents. Such an objective requires cooperation, not only between economists and cognitive scientists but also with mathematicians, physicists and computer scientists, in order to renew, study and simulate models of dynamical systems involving economic agents and their cognitive mechanisms. The hard core of classical economics is the General Equilibrium Theory, based on the optimising rationality of the agent and on static concepts of equilibrium, following a point of view systemised in the framework of Game Theory. The agent is considered "rational" if everything takes place as if he was maximising a function representing his preferences, his utility function.
Download or read book Multiagent Systems written by Yoav Shoham and published by Cambridge University Press. This book was released on 2008-12-15 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multiagent systems combine multiple autonomous entities, each having diverging interests or different information. This overview of the field offers a computer science perspective, but also draws on ideas from game theory, economics, operations research, logic, philosophy and linguistics. It will serve as a reference for researchers in each of these fields, and be used as a text for advanced undergraduate or graduate courses. The authors emphasize foundations to create a broad and rigorous treatment of their subject, with thorough presentations of distributed problem solving, game theory, multiagent communication and learning, social choice, mechanism design, auctions, cooperative game theory, and modal logics of knowledge and belief. For each topic, basic concepts are introduced, examples are given, proofs of key results are offered, and algorithmic considerations are examined. An appendix covers background material in probability theory, classical logic, Markov decision processes and mathematical programming.
