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| Author | : David M. Kreps |
| Publisher | : Oxford University Press |
| Total Pages | : 204 |
| Release | : 1990 |
| Genre | : Business & Economics |
| ISBN | : 0198283814 |
Comprises lectures given at Tel Aviv University and Oxford University in 1990.
| Author | : George J Mailath |
| Publisher | : World Scientific |
| Total Pages | : 364 |
| Release | : 2018-12-18 |
| Genre | : Business & Economics |
| ISBN | : 9813239956 |
It is impossible to understand modern economics without knowledge of the basic tools of gametheory and mechanism design. This book provides a graduate-level introduction to the economic modeling of strategic behavior. The goal is to teach Economics doctoral students the tools of game theory and mechanism design that all economists should know.
| Author | : Jürgen Eichberger |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 315 |
| Release | : 1993 |
| Genre | : Business & Economics |
| ISBN | : 9780122336201 |
Introduces the game-theoretic approach of modelling economic behaviour and interaction, focusing on concepts and ideas from the field of game-theoretic models which find commonly used applications in economics. This book provides the reader with skills necessary to formalize economic games and to make them accessible for game theoretic analysis.
| Author | : Harold William Kuhn |
| Publisher | : Princeton University Press |
| Total Pages | : 328 |
| Release | : 2020-11-10 |
| Genre | : Business & Economics |
| ISBN | : 1400829151 |
Classics in Game Theory assembles in one sourcebook the basic contributions to the field that followed on the publication of Theory of Games and Economic Behavior by John von Neumann and Oskar Morgenstern (Princeton, 1944). The theory of games, first given a rigorous formulation by von Neumann in a in 1928, is a subfield of mathematics and economics that models situations in which individuals compete and cooperate with each other. In the "heroic era" of research that began in the late 1940s, the foundations of the current theory were laid; it is these fundamental contributions that are collected in this volume. In the last fifteen years, game theory has become the dominant model in economic theory and has made significant contributions to political science, biology, and international security studies. The central role of game theory in economic theory was recognized by the award of the Nobel Memorial Prize in Economic Science in 1994 to the pioneering game theorists John C. Harsanyi, John Nash, and Reinhard Selten. The fundamental works for which they were honored are all included in this volume. Harold Kuhn, himself a major contributor to game theory for his reformulation of extensive games, has chosen eighteen essays that constitute the core of game theory as it exists today. Drawn from a variety of sources, they will be an invaluable tool for researchers in game theory and for a broad group of students of economics, political science, and biology.
| Author | : Drew Fudenberg |
| Publisher | : MIT Press |
| Total Pages | : 304 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : 9780262061940 |
This work explains that equilibrium is the long-run outcome of a process in which non-fully rational players search for optimality over time. The models they e×plore provide a foundation for equilibrium theory and suggest ways for economists to evaluate and modify traditional equilibrium concepts.
| Author | : Marilda Sotomayor |
| Publisher | : Springer |
| Total Pages | : 0 |
| Release | : 2020-08-21 |
| Genre | : Mathematics |
| ISBN | : 9781071603673 |
This volume in the Encyclopedia of Complexity and Systems Science, Second Edition, combines the main features of Game Theory, covering most of the fundamental theoretical aspects under the cooperative and non-cooperative approaches, with the procedures of Agent-Based Modeling for studying complex systems composed of a large number of interacting entities with many degrees of freedom. In Game Theory, the cooperative approach focuses on the possible outcomes of the decision-makers’ interaction by abstracting from the "rational" actions or decisions that may lead to these outcomes. The non-cooperative approach focuses on the actions that the decision-makers can take. As John von Neumann and Oskar Morgenstern argued in their path-breaking book of 1944 entitled Theory of Games and Economic Behavior, most economic questions should be analyzed as games. The models of game theory are abstract representations of a number of real-life situations and have applications to economics, political science, computer science, evolutionary biology, social psychology, and law among others. Agent-Based Modeling (ABM) is a relatively new computational modeling paradigm which aims to construct the computational counterpart of a conceptual model of the system under study on the basis of discrete entities (i.e., the agent) with some properties and behavioral rules, and then to simulate them in a computer to mimic the real phenomena. Given the relative immaturity of this modeling paradigm, and the broad spectrum of disciplines in which it is applied, a clear cut and widely accepted definition of high level concepts of agents, environment, interactions and so on, is still lacking. This volume explores the state-of-the-art in the development of a real ABM ontology to address the epistemological issues related to this emerging paradigm for modeling complex systems.
| Author | : Mr Michael Hatfield |
| Publisher | : Gower Publishing, Ltd. |
| Total Pages | : 215 |
| Release | : 2012-09-28 |
| Genre | : Business & Economics |
| ISBN | : 1409459403 |
Architects and engineers can build models to test their ideas - why not managers? In Game Theory in Management: Modelling Business Decisions and Their Consequences, author Michael Hatfield presents a series of mathematically structured analogies to real-life business and economic interaction scenarios, and then, using modern game theory, he shows how to test common managerial technical approaches for their effectiveness. His results are astonishing: if game theory is correct then many commonly-held and taught management approaches and techniques are not only less effective than thought, they are actually detrimental in many areas where they are held to be beneficial. Game Theory in Management also examines managerial implications from network theory, cartage schemes, risk management theory, management information system epistemology, and other areas where the quantification and testing of business decisions can be employed to identify winning and losing stratagems. While the topic may seem complex, Game Theory in Management is a readable and fast-paced book; readers will come away with an entirely new perspective on the objectives, tactics, even purpose of management, and ways of evaluating the selected strategies and decisions of those within the team, inside the macro organization, and among competitors. Easily-employed tests for the validity and efficacy of management information systems are also addressed, as are those environments where cartage schemes can be most effective, and where they are not. In the areas of asset, project, and strategic management, Game Theory in Management is certain to become a game-changer.
| Author | : Robert Gibbons |
| Publisher | : Princeton University Press |
| Total Pages | : 284 |
| Release | : 1992-07-13 |
| Genre | : Business & Economics |
| ISBN | : 1400835887 |
An introduction to one of the most powerful tools in modern economics Game Theory for Applied Economists introduces one of the most powerful tools of modern economics to a wide audience: those who will later construct or consume game-theoretic models. Robert Gibbons addresses scholars in applied fields within economics who want a serious and thorough discussion of game theory but who may have found other works too abstract. Gibbons emphasizes the economic applications of the theory at least as much as the pure theory itself; formal arguments about abstract games play a minor role. The applications illustrate the process of model building—of translating an informal description of a multi-person decision situation into a formal game-theoretic problem to be analyzed. Also, the variety of applications shows that similar issues arise in different areas of economics, and that the same game-theoretic tools can be applied in each setting. In order to emphasize the broad potential scope of the theory, conventional applications from industrial organization have been largely replaced by applications from labor, macro, and other applied fields in economics. The book covers four classes of games, and four corresponding notions of equilibrium: static games of complete information and Nash equilibrium, dynamic games of complete information and subgame-perfect Nash equilibrium, static games of incomplete information and Bayesian Nash equilibrium, and dynamic games of incomplete information and perfect Bayesian equilibrium.
| Author | : Tshilidzi Marwala |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 271 |
| Release | : 2013-04-02 |
| Genre | : Computers |
| ISBN | : 1447150104 |
Economic Modeling Using Artificial Intelligence Methods examines the application of artificial intelligence methods to model economic data. Traditionally, economic modeling has been modeled in the linear domain where the principles of superposition are valid. The application of artificial intelligence for economic modeling allows for a flexible multi-order non-linear modeling. In addition, game theory has largely been applied in economic modeling. However, the inherent limitation of game theory when dealing with many player games encourages the use of multi-agent systems for modeling economic phenomena. The artificial intelligence techniques used to model economic data include: multi-layer perceptron neural networks radial basis functions support vector machines rough sets genetic algorithm particle swarm optimization simulated annealing multi-agent system incremental learning fuzzy networks Signal processing techniques are explored to analyze economic data, and these techniques are the time domain methods, time-frequency domain methods and fractals dimension approaches. Interesting economic problems such as causality versus correlation, simulating the stock market, modeling and controling inflation, option pricing, modeling economic growth as well as portfolio optimization are examined. The relationship between economic dependency and interstate conflict is explored, and knowledge on how economics is useful to foster peace – and vice versa – is investigated. Economic Modeling Using Artificial Intelligence Methods deals with the issue of causality in the non-linear domain and applies the automatic relevance determination, the evidence framework, Bayesian approach and Granger causality to understand causality and correlation. Economic Modeling Using Artificial Intelligence Methods makes an important contribution to the area of econometrics, and is a valuable source of reference for graduate students, researchers and financial practitioners.
| Author | : John Von Neumann |
| Publisher | : Diana |
| Total Pages | : 660 |
| Release | : 2020-01-29 |
| Genre | : Games & Activities |
| ISBN | : 9785608789779 |
This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper together blossomed, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.
