Download or read book Unique Solutions for Strategic Games written by Werner Güth and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a general solution concept for strategic games which resolves strategic uncertainty completely. The concept is described by a mathematically formulated solution procedure and illustrated by applying it to many interesting examples. A long nontechnical introduction tries to survey and to discuss the more technical parts of the book. The book and especially the introduction provide firm and consistent guidance for scholars of game theory. There are many open problems which could inspire further research efforts.
Download or read book Games of Strategy written by Dixit, Avinash K and published by W. W. Norton & Company. This book was released on 2015-01-05 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear, comprehensive introduction to the study of game theory. In the fourth edition, new real-world examples and compelling end-of-chapter exercises engage students with game theory.
Download or read book Frontiers of Game Theory written by K. G. Binmore and published by MIT Press. This book was released on 1993 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: seventeen contributions reflecting the many diverse approaches in the field todayThese seventeen contributions take up the most recent research in game theory, reflecting the many diverse approaches in the field today. They are classified in five general tactical categories - prediction, explanation, investigation, description, and prescription - and wit in these along applied and theoretical divisions. The introduction clearly lays out this framework.
Download or read book Collected Papers written by Robert J. Aumann and published by MIT Press. This book was released on 2000 with total page 818 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Aumann's career in game theory has spanned over research - from his doctoral dissertation in 1956 to papers as recent as January 1995. Threaded through all of Aumann's work (symbolized in his thesis on knots) is the study of relationships between different ideas, between different phenomena, and between ideas and phenomena. "When you look closely at one scientific idea", writes Aumann, "you find it hitched to all others. It is these hitches that I have tried to study". The papers are organized in several categories: general, knot theory, decision theory (utility and subjective probability), strategic games, coalitional games, and mathematical methods. Aumann has written an introduction to each of these groups that briefly describes the content and background of each paper, including the motivation and the research process, and relates it to other work in the collection and to work by others. There is also a citation index that allows readers to trace the considerable body of literature which cites Aumann's own work.
Download or read book Stability and Perfection of Nash Equilibria written by Eric van Damme and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: I have been pleased with the favourable reception of the first edition of this book and I am grateful to have the opportunity to prepare this second edition. In this revised and enlarged edition I corrected some misprints and errors that occurred in the first edition (fortunately I didn't find too many) and I added a large number of notes that give the reader an impression of what kind of results have been obtained since the first edition was printed and that give an indication of the direction the subject is taking. Many of the notes discuss (or refer to papers discussing) applications of the refinements that are considered. Of course, it is the quantity and the quality of the insights and the applications that lend the refinements their validity. Although the guide to the applications is far from complete, the notes certainly allow the reader to form a good judgement of which refinements have really yielded new insights. Hence, as in the first edition, I will refrain from speculating on which refinements of Nash equilibria will survive in the long run. To defend this position let me also cite Binmore [1990] who compares writing about refinements to the Herculean task of defeating the nine-headed Hydra which grew too heads for each that was struck off. It is a pleasure to have the opportunity to thank my secretary, Marjoleine de Wit, who skilfully and, as always, cheerfully typed the manuscript and did the proofreading.
Download or read book Game Equilibrium Models IV written by Reinhard Selten and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The four volumes of Game Equilibrium Models present applications of non-cooperative game theory. Problems of strategic interaction arising in biology, economics, political science and the social sciences in general are treated in 42 papers on a wide variety of subjects. Internationally known authors with backgrounds in various disciplines have contributed original research. The reader finds innovative modelling combined with advanced methods of analysis. The four volumes are the outcome of a research year at the Center for Interdisciplinary Studies of the University of Bielefeld. The close interaction of an international interdisciplinary group of researchers has produced an unusual collection of remarkable results of great interest for everybody who wants to be informed on the scope, potential, and future direction of work in applied game theory. Volume IV Social and Political Interaction contains game equilibrium models focussing on social and political interaction within communities or states or between states, i.e. national and international social and political interaction. Specific aspects of those interactions are modelled as non-cooperative games and their equilibria are analysed.
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.
Download or read book Games Strategies and Decision Making written by Joseph Harrington and published by Macmillan. This book was released on 2009 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book on game theory introduces and develops the key concepts with a minimum of mathematics. Students are presented with empirical evidence, anecdotes and strategic situations to help them apply theory and gain a genuine insight into human behaviour. The book provides a diverse collection of examples and scenarios from history, literature, sports, crime, theology, war, biology, and everyday life. These examples come with rich context that adds real-world meat to the skeleton of theory. Each chapter begins with a specific strategic situation and is followed with a systematic treatment that gradually builds understanding of the concept.
Download or read book Advances in Economic Theory Volume 1 written by Econometric Society. World Congress and published by Cambridge University Press. This book was released on 1992 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives the reader a unique survey of advances in economic theory.
Download or read book Surveys in Experimental Economics written by Friedel Bolle and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experimental Economics has experienced a steadily growing interest by economists during the last decade. This may not surprise since laboratory and field experiments obviously provide a further valuable source of empirical evidence of economic behavior besides statistics, econometrics, polls, interviews and simulations. In an overview of the recent developments in Experimental Economics, the present book concentrates on three central themes standing in the actual research focus: bargaining, cooperation and election markets. For each one of these topics the volume presents several state-of-the-art survey articles by experts in the field, accompanied by detailed comments. While the experimental approach sheds new light on the microeconomic standard topics of bargaining and cooperation, the election market approach as a new field may provide better forecasts for political elections - and for soccer World Championships.
Download or read book Strategy Games To Enhance Problem solving Ability In Mathematics written by Alfred S Posamentier and published by World Scientific. This book was released on 2016-11-11 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Games are seen only for recreation. However, this book shows that games can be used to strengthen problem-solving skills and beyond. This book presents strategy games and discusses for each one solutions towards a winning position in the game. In most cases, these strategies are analogous to problem-solving strategies in mathematics. Readers are also exposed to a wide variety of games from several different cultures, which will broaden the perspective of the readers.
Download or read book Adjustment Processes for Exchange Economies and Noncooperative Games written by Antoon van den Elzen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is a treatise on adjustment processes. We consider price adjustment processes in exchange economies and strategy adjustment processes in noncooperative games. In the most simple version of an exchange economy, i.e. a pure exchange economy, there exist markets on which prices are determined by the demand and supply created by a finite number of consumers willing to exchange their initial endowments in order to maximize their utilities. An equilibrium situation is attained if, for some price vector, demand equals supply in all markets. Starting from a situation not being an equi librium an adjustment process reaches an equilibrium via adaptations of prices. The advantage of the adjustment processes we will present in this monograph is that they exist and converge under far weaker assumptions than existing processes. The second subject concerns the problem of finding Nash equilibria in noncooperative games. A Nash equilibrium is a situation from which no player can improve his position by unilaterally changing his strategy. We present a new algorithm for finding such equilibria. The sequence of stra tegy vectors generated by the algorithm can be interpreted as the path followed by a strategy adjustment process.
Download or read book Focal Points in Framed Games written by Andre Casajus and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Go to, let us go down, and there confound their language, that they may not understand one another's speech. So the LORD scattered them abroad from thence upon the face of all the earth: and they left off to built the city. (Genesis 11.7-8) 1.1 Static Focal Points 1.1.1 Coordination In real life, people quite often face situations in which they prefer to act in the same way, but they are not particular about the concrete way of acting. Some examples are given below: Credit cards: Buyers want to possess the credit cards potential sellers do accept. Also, sellers wish to have contracted the credit card company the credit cards of which potential customers usually carry along. For both, basically, it is all the same which credit card this is. What matters is that both choices coincide. Communication, information transmission: The transmission of in formation requires that the signals used have the same meaning to both the sender and the receiver. But it is inessential which signal has a certain mean ing. In verbal communication, this basically means that the people involved use the same (natural) language, though even then some ambiguities remain. Things are a bit more difficult for non-verbal communication, for example data transmission between computers-both sides have to use the same or compatible protocols. Again, what matters is the protocols to be the same for both sides.
Download or read book Balanced Silverman Games on General Discrete Sets written by Gerald A. Heuer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Silverman game is a two-person zero-sum game defined in terms of two sets S I and S II of positive numbers, and two parameters, the threshold T > 1 and the penalty v > 0. Players I and II independently choose numbers from S I and S II, respectively. The higher number wins 1, unless it is at least T times as large as the other, in which case it loses v. Equal numbers tie. Such a game might be used to model various bidding or spending situations in which within some bounds the higher bidder or bigger spender wins, but loses if it is overdone. Such situations may include spending on armaments, advertising spending or sealed bids in an auction. Previous work has dealt mainly with special cases. In this work recent progress for arbitrary discrete sets S I and S II is presented. Under quite general conditions, these games reduce to finite matrix games. A large class of games are completely determined by the diagonal of the matrix, and it is shown how the great majority of these appear to have unique optimal strategies. The work is accessible to all who are familiar with basic noncooperative game theory.
Download or read book A Game Theory Analysis of Options written by Alexandre Ziegler and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modem option pricing theory was developed in the late sixties and early seventies by F. Black, R. C. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. However, already in the seminal paper by Black and Scholes, the applicability of the model was regarded as much broader. In the second part of their paper, the authors demonstrated that a levered firm's equity can be regarded as an option on the value of the firm, and thus can be priced by option valuation techniques. A year later, Merton showed how the default risk structure of corporate bonds can be determined by option pricing techniques. Option pricing models are now used to price virtually the full range of financial instruments and financial guarantees such as deposit insurance and collateral, and to quantify the associated risks. Over the years, option pricing has evolved from a set of specific models to a general analytical framework for analyzing the production process of financial contracts and their function in the financial intermediation process in a continuous time framework. However, virtually no attempt has been made in the literature to integrate game theory aspects, i. e. strategic financial decisions of the agents, into the continuous time framework. This is the unique contribution of the thesis of Dr. Alexandre Ziegler. Benefiting from the analytical tractability of continuous time models and the closed form valuation models for derivatives, Dr.
Download or read book On Consistent Solutions for Strategic Games written by Fioravante Patrone and published by . This book was released on 1996 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Experimental Duopoly Markets with Demand Inertia written by Claudia Keser and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report portrays the results of experimental research on dynamic duopoly markets with demand inertia. Two methods of experimentation are studied: game-playing experiments where subjects interact spontaneously via computer terminals, and computer tournaments between strategies designed by subjects. The principal aim of this study is the understanding of boundedly rational decision making in the dynamic duopoly situation. 1. 1 Motivation The experiments examine a multistage duopoly game where prices in each period are the only decision variables. Sales depend on current prices and also on past sales (demand inertia). Applying the game-theoretic concept of subgame perfect equilibrium, the game is solved by backward induction. The result is a uniquely determined system of decision rules. However, we can hardly expect that human beings behave according to the equilibrium strategy of this game. It is unlikely that subjects are able to compute the equilibrium. And even if a subject is able to compute it, he might not make use of this knowledge. Only if he expects the others to behave according to the equilibrium, it is optimal for him to play the equilibrium strategy. We have evidence from several earlier experimental studies on oligopoly markets that, even in less complex oligopoly situations where the equilibrium solutions are very easy to compute, human behavior often is different from what is prescribed by normative theory. ! Normative theory is based on the concept of ideal rationality. However, human capabilities impose cognitive limits on rationality.
