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 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last decade has seen a steady increase in the application of concepts from noncooperative game theory to such diverse fields as economics, political science, law, operations research, biology and social psychology. As a byproduct of this increased activity, there has been a growing awareness of the fact that the basic noncooperative solution concept, that of Nash equilibrium, suffers from severe drawbacks. The two main shortcomings of this concept are the following: (i) In extensive form games, a Nash strategy may prescribe off the equilibrium path behavior that is manifestly irrational. (Specifically, Nash equilibria may involve incredible threats), (ii) Nash equilibria need not be robust with respect to small perturbations in the data of the game. Confronted with the growing evidence to the detriment of the Nash concept, game theorists were prompted to search for more refined equilibrium notions with better properties and they have come up with a wide array of alternative solution concepts. This book surveys the most important refinements that have been introduced. Its objectives are fourfold (i) to illustrate desirable properties as well as drawbacks of the various equilibrium notions by means of simple specific examples, (ii) to study the relationships between the various refinements, (iii) to derive simplifying characterizations, and (iv) to discuss the plausibility of the assumptions underlying the concepts.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 1990 with total page 684 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Models of Imperfect Information in Politics written by R. Calvert and published by Taylor & Francis. This book was released on 2013-06-17 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surveys the models of political phenomena that incorporate imperfect information, concentrating on 'full-rationality' approaches as opposed to bounded rationality models.
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.
Download or read book Game Theory written by Michael Maschler and published by Cambridge University Press. This book was released on 2020-06-25 with total page 1053 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition is unparalleled in breadth of coverage, thoroughness of technical explanations and number of worked examples.
Download or read book Mathematical Foundations of Game Theory written by Rida Laraki and published by Springer Nature. This book was released on 2019-09-07 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives a concise presentation of the mathematical foundations of Game Theory, with an emphasis on strategic analysis linked to information and dynamics. It is largely self-contained, with all of the key tools and concepts defined in the text. Combining the basics of Game Theory, such as value existence theorems in zero-sum games and equilibrium existence theorems for non-zero-sum games, with a selection of important and more recent topics such as the equilibrium manifold and learning dynamics, the book quickly takes the reader close to the state of the art. Applications to economics, biology, and learning are included, and the exercises, which often contain noteworthy results, provide an important complement to the text. Based on lectures given in Paris over several years, this textbook will be useful for rigorous, up-to-date courses on the subject. Apart from an interest in strategic thinking and a taste for mathematical formalism, the only prerequisite for reading the book is a solid knowledge of mathematics at the undergraduate level, including basic analysis, linear algebra, and probability.
Download or read book Game Theory written by Guillermo Owen and published by Emerald Group Publishing. This book was released on 2013-08-08 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: Game Theory has served as a standard text for game theory courses since the publication of the First Edition in 1968. The Fourth Edition updates several recently developed subfields.
Download or read book Game Theoretical Models in Biology written by Mark Broom and published by CRC Press. This book was released on 2022-08-03 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering the major topics of evolutionary game theory, Game-Theoretical Models in Biology, Second Edition presents both abstract and practical mathematical models of real biological situations. It discusses the static aspects of game theory in a mathematically rigorous way that is appealing to mathematicians. In addition, the authors explore many applications of game theory to biology, making the text useful to biologists as well. The book describes a wide range of topics in evolutionary games, including matrix games, replicator dynamics, the hawk-dove game, and the prisoner’s dilemma. It covers the evolutionarily stable strategy, a key concept in biological games, and offers in-depth details of the mathematical models. Most chapters illustrate how to use Python to solve various games. Important biological phenomena, such as the sex ratio of so many species being close to a half, the evolution of cooperative behaviour, and the existence of adornments (for example, the peacock’s tail), have been explained using ideas underpinned by game theoretical modelling. Suitable for readers studying and working at the interface of mathematics and the life sciences, this book shows how evolutionary game theory is used in the modelling of these diverse biological phenomena. In this thoroughly revised new edition, the authors have added three new chapters on the evolution of structured populations, biological signalling games, and a topical new chapter on evolutionary models of cancer. There are also new sections on games with time constraints that convert simple games to potentially complex nonlinear ones; new models on extortion strategies for the Iterated Prisoner’s Dilemma and on social dilemmas; and on evolutionary models of vaccination, a timely section given the current Covid pandemic. Features Presents a wide range of biological applications of game theory. Suitable for researchers and professionals in mathematical biology and the life sciences, and as a text for postgraduate courses in mathematical biology. Provides numerous examples, exercises, and Python code.
Download or read book Game Theory Alive written by Anna R. Karlin and published by American Mathematical Soc.. This book was released on 2017-04-27 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: We live in a highly connected world with multiple self-interested agents interacting and myriad opportunities for conflict and cooperation. The goal of game theory is to understand these opportunities. This book presents a rigorous introduction to the mathematics of game theory without losing sight of the joy of the subject. This is done by focusing on theoretical highlights (e.g., at least six Nobel Prize winning results are developed from scratch) and by presenting exciting connections of game theory to other fields such as computer science (algorithmic game theory), economics (auctions and matching markets), social choice (voting theory), biology (signaling and evolutionary stability), and learning theory. Both classical topics, such as zero-sum games, and modern topics, such as sponsored search auctions, are covered. Along the way, beautiful mathematical tools used in game theory are introduced, including convexity, fixed-point theorems, and probabilistic arguments. The book is appropriate for a first course in game theory at either the undergraduate or graduate level, whether in mathematics, economics, computer science, or statistics. The importance of game-theoretic thinking transcends the academic setting—for every action we take, we must consider not only its direct effects, but also how it influences the incentives of others.
Download or read book Economic Sciences 1991 1995 written by Torsten Persson and published by World Scientific. This book was released on 1997 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Below is a list of the prizewinners during the period 1991 ? 1995 with a description of the works which won them their prizes: (1991) R H COASE ? for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy; (1992) G S BECKER ? for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour; (1993) R W FOGEL & D C NORTH ? for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change; (1994) J C HARSANYI, J F NASH & R SELTEN ? for their pioneering analysis of equilibria in the theory of non-cooperative games; (1995) R E LUCAS ? for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy.
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.
Download or read book Hayek and Behavioral Economics written by R. Frantz and published by Springer. This book was released on 2013-01-31 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exploration of Friedrich Hayek's contribution to the foundation of behavioural economics, and how his work interacted with and complemented that of his contemporaries. Chapters include detailed discussions of the concept of rationality, psychology and Hayek's philosophical theories as well as the historical context in which he lived and worked.
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.
Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.
Download or read book Methods and Models written by Rebecca B. Morton and published by Cambridge University Press. This book was released on 1999-08-28 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: At present much of political science consists of a large body of formal mathematical work that remains largely unexplored empirically and an expanding use of sophisticated statistical techniques. While there are examples of noteworthy efforts to bridge the gap between these, there is still a need for much more cooperative work between formal theorists and empirical researchers in the discipline. This book explores how empirical analysis has, can, and should be used to evaluate formal models in political science. The book is intended to be a guide for active and future political scientists who are confronting the issues of empirical analysis with formal models in their work and as a basis for a needed dialogue between empirical and formal theoretical researchers in political science. These developments, if combined, are potentially a basis for a new revolution in political science.
Download or read book A Long Run Collaboration on Long Run Games written by Drew Fudenberg and published by World Scientific. This book was released on 2009 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the joint work of Drew Fudenberg and David Levine (through 2008) on the closely connected topics of repeated games and reputation effects, along with related papers on more general issues in game theory and dynamic games. The unified presentation highlights the recurring themes of their work.
