Download or read book Microeconomic Theory written by Larry Samuelson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is often said that everyone understands precisely what is meant by the notion of probability-except those who have spent their lives studying the matter. Upon close scrutiny, the intuitively obvious idea of probability becomes quite elusive. Is it a subjective or objective concept? Are random variables simply improperly measured deterministic variables, or inherently random? What is meant by the phrase "other things held constant" that often appears in descriptions of probability? These questions involve fundamental philosophical and scientific issues, and promise to elude definitive answers for some time. The same type of difficulty arises when attempting to produce a volume on microeconomic theory. The obvious first question-what is microeconomic theory?--

Download or read book Axioms of Cooperative Decision Making written by Hervé Moulin and published by Cambridge University Press. This book was released on 1991-07-26 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a unified and comprehensive study of welfarism, cooperative games, public decision making, and voting and social choice theory.

Download or read book The Arrow Impossibility Theorem written by Eric Maskin and published by Columbia University Press. This book was released on 2014-07-08 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kenneth Arrow's pathbreaking Òimpossibility theoremÓ was a watershed in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence. In this book, Amartya Sen and Eric Maskin explore the implications of ArrowÕs theorem. Sen considers its ongoing utility, exploring the theoremÕs value and limitations in relation to recent research on social reasoning, while Maskin discusses how to design a voting rule that gets us closer to the idealÑgiven that achieving the ideal is impossible. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth Arrow himself, as well as essays by Sen and Maskin outlining the mathematical proof and framework behind their assertions.

Download or read book Axiomatic Bargaining Game Theory written by H.J. Peters and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many social or economic conflict situations can be modeled by specifying the alternatives on which the involved parties may agree, and a special alternative which summarizes what happens in the event that no agreement is reached. Such a model is called a bargaining game, and a prescription assigning an alternative to each bargaining game is called a bargaining solution. In the cooperative game-theoretical approach, bargaining solutions are mathematically characterized by desirable properties, usually called axioms. In the noncooperative approach, solutions are derived as equilibria of strategic models describing an underlying bargaining procedure. Axiomatic Bargaining Game Theory provides the reader with an up-to-date survey of cooperative, axiomatic models of bargaining, starting with Nash's seminal paper, The Bargaining Problem. It presents an overview of the main results in this area during the past four decades. Axiomatic Bargaining Game Theory provides a chapter on noncooperative models of bargaining, in particular on those models leading to bargaining solutions that also result from the axiomatic approach. The main existing axiomatizations of solutions for coalitional bargaining games are included, as well as an auxiliary chapter on the relevant demands from utility theory.

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

Download or read book Experimental Economics written by Douglas D. Davis and published by Princeton University Press. This book was released on 2021-07-13 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: A small but increasing number of economists have begun to use laboratory experiments to evaluate economic propositions under carefully controlled conditions. Experimental Economics is the first comprehensive treatment of this rapidly growing area of research. While the book acknowledges that laboratory experiments are no panacea, it argues cogently for their effectiveness in selected situations. Covering methodological and procedural issues as well as theory, Experimental Economics is not only a textbook but also a useful introduction to laboratory methods for professional economists. Although the authors present some new material, their emphasis is on organizing and evaluating existing results. The book can be used as an anchoring device for a course at either the graduate or advanced undergraduate level. Applications include financial market experiments, oligopoly price competition, auctions, bargaining, provision of public goods, experimental games, and decision making under uncertainty. The book also contains instructions for a variety of laboratory experiments.

Download or read book Essays on Philosophy Politics Economics written by Christi Favor and published by Stanford University Press. This book was released on 2010-05-17 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on Philosophy, Politics, & Economics offers a critical examination of economic, philosophical, and political notions, with an eye towards working across all three, so that students and scholars from can expand their perspectives as they approach the necessarily complex research questions of today and tomorrow.

Download or read book Social Choice and Legitimacy written by John W. Patty and published by Cambridge University Press. This book was released on 2014-07-31 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governing requires choices, and hence trade-offs between conflicting goals or criteria. This book asserts that legitimate governance requires explanations for such trade-offs and then demonstrates that such explanations can always be found, though not for every possible choice. In so doing, John W. Patty and Elizabeth Maggie Penn use the tools of social choice theory to provide a new and discriminating theory of legitimacy. In contrast with both earlier critics and defenders of social choice theory, Patty and Penn argue that the classic impossibility theorems of Arrow, Gibbard, and Satterthwaite are inescapably relevant to, and indeed justify, democratic institutions. Specifically, these institutions exist to do more than simply make policy - through their procedures and proceedings, these institutions make sense of the trade-offs required when controversial policy decisions must be made.

Download or read book Models of Political Economy written by Hannu Nurmi and published by Routledge. This book was released on 2006-10-13 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering decision theory; game theory; mechanism design; and, games of asymmetric information, this work aims to introduce students to the basic methodology of political economics.

Download or read book Game Theory Breakthroughs in Research and Practice written by Management Association, Information Resources and published by IGI Global. This book was released on 2017-06-19 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments in the use of game theory have impacted multiple fields and created opportunities for new applications. With the ubiquity of these developments, there is an increase in the overall utilization of this approach. Game Theory: Breakthroughs in Research and Practice contains a compendium of the latest academic material on the usage, strategies, and applications for implementing game theory across a variety of industries and fields. Including innovative studies on economics, military strategy, and political science, this multi-volume book is an ideal source for professionals, practitioners, graduate students, academics, and researchers interested in the applications of game theory.

Download or read book Playing for Real Coursepack Edition written by Ken Binmore and published by Oxford University Press. This book was released on 2012-08-01 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Playing for Real is a problem-based textbook on game theory that has been widely used at both the undergraduate and graduate levels. This Coursepack Edition will be particularly useful for teachers new to the subject. It contains only the material necessary for a course of ten, two-hour lectures plus problem classes and comes with a disk of teaching aids including pdf files of the author's own lecture presentations together with two series of weekly exercise sets with answers and two sample final exams with answers. There are at least three questions a game theory book might answer: What is game theory about? How is game theory applied? Why is game theory right? Playing for Real is perhaps the only book that attempts to answer all three questions without getting heavily mathematical. Its many problems and examples are an integral part of its approach. Just as athletes take pleasure in training their bodies, there is much satisfaction to be found in training one's mind to think in a way that is simultaneously rational and creative. With all of its puzzles and paradoxes, game theory provides a magnificent mental gymnasium for this purpose. It is the author's hope that exercising on the equipment provided by this Coursepack Edition will bring the reader the same kind of pleasure that it has brought to so many other students.

Download or read book Utility Maximization Choice and Preference written by Fuad Aleskerov and published by Springer Science & Business Media. This book was released on 2013-04-18 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The utility maximization paradigm forms the basis of many economic, psychological, cognitive and behavioral models. However, numerous examples have revealed the deficiencies of the concept. This book helps to overcome those deficiencies by taking into account insensitivity of measurement threshold and context of choice. The second edition has been updated to include the most recent developments and a new chapter on classic and new results for infinite sets.

Download or read book Insights into Game Theory written by Ein-Ya Gura and published by Cambridge University Press. This book was released on 2008-11-13 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few branches of mathematics have been more influential in the social sciences than game theory. In recent years, it has become an essential tool for all social scientists studying the strategic behaviour of competing individuals, firms and countries. However, the mathematical complexity of game theory is often very intimidating for students who have only a basic understanding of mathematics. Insights into Game Theory addresses this problem by providing students with an understanding of the key concepts and ideas of game theory without using formal mathematical notation. The authors use four very different topics (college admission, social justice and majority voting, coalitions and co-operative games, and a bankruptcy problem from the Talmud) to investigate four areas of game theory. The result is a fascinating introduction to the world of game theory and its increasingly important role in the social sciences.

Download or read book Playing for Real Coursepack Edition written by K. G. Binmore and published by Oxford University Press. This book was released on 2012-10-18 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Playing for Real is a problem-based textbook on game theory that has been widely used at both the undergraduate and graduate levels. The Coursepack Edition contains only the material necessary for a course of ten two-hour lectures plus problem classes. It comes with a disc of teaching aids including the author's own lecture presentations and two series of weekly exercise sets with answers.

Download or read book Negotiation Analysis written by Howard Raiffa and published by Harvard University Press. This book was released on 2007-03-31 with total page 567 pages. Available in PDF, EPUB and Kindle. Book excerpt: This masterly book substantially extends Howard Raiffa’s earlier classic, The Art and Science of Negotiation. It does so by incorporating three additional supporting strands of inquiry: individual decision analysis, judgmental decision making, and game theory. Each strand is introduced and used in analyzing negotiations. The book starts by considering how analytically minded parties can generate joint gains and distribute them equitably by negotiating with full, open, truthful exchanges. The book then examines models that disengage step by step from that ideal. It also shows how a neutral outsider (intervenor) can help all negotiators by providing joint, neutral analysis of their problem. Although analytical in its approach—building from simple hypothetical examples—the book can be understood by those with only a high school background in mathematics. It therefore will have a broad relevance for both the theory and practice of negotiation analysis as it is applied to disputes that range from those between family members, business partners, and business competitors to those involving labor and management, environmentalists and developers, and nations.

Download or read book Theories of Distributive Justice written by John E. Roemer and published by Harvard University Press. This book was released on 1996 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Roemer has written a unique book that critiques economists' conceptions of justice from a philosophical perspective and philosophical theories of distributive justice from an economic one.

Download or read book Social Choice Re Examined written by Kotaro Suzumura and published by Springer. This book was released on 1997-03-15 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since World War II the subject of social choice has grown in many and surprising ways. The impossibility theorems have suggested many directions: mathematical characterisations of voting structures satisfying various sets of conditions, the consequences of restricting choice to certain domaines, the relation to competitive equilibrium and the core, and trade-offs among the partial satisfactions of some conditions. The links with classical and modern theories of justice and, in particular, the competing ideas of rights and utilitarianism have shown the power of formal social choice analysis in illuminating the most basic philosophical arguments about the good social life. Finally, the ideals of the just society meet with the play of self interest; social choice mechanisms can lend themselves to manipulation, and the analysis of conditions under which given ideals can be realised under self interest is a political parallel to the welfare economics of the market. The contributors to these volumes focus on these issues at the forefront of current research.