Game Theory And Mechanism Design
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| Author | : Y Narahari |
| Publisher | : World Scientific |
| Total Pages | : 533 |
| Release | : 2014-03-13 |
| Genre | : Computers |
| ISBN | : 9814525065 |
This book offers a self-sufficient treatment of a key tool, game theory and mechanism design, to model, analyze, and solve centralized as well as decentralized design problems involving multiple autonomous agents that interact strategically in a rational and intelligent way. The contents of the book provide a sound foundation of game theory and mechanism design theory which clearly represent the “science” behind traditional as well as emerging economic applications for the society.The importance of the discipline of game theory has been recognized through numerous Nobel prizes in economic sciences being awarded to game theorists, including the 2005, 2007, and 2012 prizes. The book distills the marvelous contributions of these and other celebrated game theorists and presents it in a way that can be easily understood even by senior undergraduate students.A unique feature of the book is its detailed coverage of mechanism design which is the art of designing a game among strategic agents so that a social goal is realized in an equilibrium of the induced game. Another feature is a large number of illustrative examples that are representative of both classical and modern applications of game theory and mechanism design. The book also includes informative biographical sketches of game theory legends, and is specially customized to a general engineering audience.After a thorough reading of this book, readers would be able to apply game theory and mechanism design in a principled and mature way to solve relevant problems in computer science (esp, artificial intelligence/machine learning), computer engineering, operations research, industrial engineering and microeconomics.
| Author | : Tilman Borgers |
| Publisher | : Oxford University Press |
| Total Pages | : 263 |
| Release | : 2015-05-01 |
| Genre | : Business & Economics |
| ISBN | : 0190244682 |
What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? In An Introduction to the Theory of Mechanism Design, Tilman Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself as well as the results of the instrument. An Introduction to the Theory of Mechanism Design provides rigorous but accessible explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Börgers also provides an examination of the frontiers of current research in the area with an original and unified perspective that will appeal to advanced students of economics.
| Author | : Y. Narahari |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 274 |
| Release | : 2009-04-03 |
| Genre | : Mathematics |
| ISBN | : 1848009380 |
This monograph focuses on exploring game theoretic modeling and mechanism design for problem solving in Internet and network economics. For the first time, the main theoretical issues and applications of mechanism design are bound together in a single text.
| 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 | : Tim Roughgarden |
| Publisher | : Cambridge University Press |
| Total Pages | : 356 |
| Release | : 2016-08-30 |
| Genre | : Computers |
| ISBN | : 1316781178 |
Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.
| Author | : Zhu Han |
| Publisher | : Cambridge University Press |
| Total Pages | : 555 |
| Release | : 2012 |
| Genre | : Business & Economics |
| ISBN | : 0521196965 |
This unified 2001 treatment of game theory focuses on finding state-of-the-art solutions to issues surrounding the next generation of wireless and communications networks. The key results and tools of game theory are covered, as are various real-world technologies and a wide range of techniques for modeling, design and analysis.
| Author | : Rakesh V. Vohra |
| Publisher | : Cambridge University Press |
| Total Pages | : 185 |
| Release | : 2011-05-09 |
| Genre | : Business & Economics |
| ISBN | : 1139499173 |
Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design.
| Author | : Steve Tadelis |
| Publisher | : Princeton University Press |
| Total Pages | : 416 |
| Release | : 2013-01-06 |
| Genre | : Business & Economics |
| ISBN | : 0691129088 |
The definitive introduction to game theory This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss strategic and extensive form games with complete information, Bayesian games, and extensive form games with imperfect information. He covers a host of topics, including multistage and repeated games, bargaining theory, auctions, rent-seeking games, mechanism design, signaling games, reputation building, and information transmission games. Unlike other books on game theory, this one begins with the idea of rationality and explores its implications for multiperson decision problems through concepts like dominated strategies and rationalizability. Only then does it present the subject of Nash equilibrium and its derivatives. Game Theory is the ideal textbook for advanced undergraduate and beginning graduate students. Throughout, concepts and methods are explained using real-world examples backed by precise analytic material. The book features many important applications to economics and political science, as well as numerous exercises that focus on how to formalize informal situations and then analyze them. Introduces the core ideas and applications of game theory Covers static and dynamic games, with complete and incomplete information Features a variety of examples, applications, and exercises Topics include repeated games, bargaining, auctions, signaling, reputation, and information transmission Ideal for advanced undergraduate and beginning graduate students Complete solutions available to teachers and selected solutions available to students
| Author | : Tim Roughgarden |
| Publisher | : MIT Press |
| Total Pages | : 216 |
| Release | : 2005-05-06 |
| Genre | : Computers |
| ISBN | : 9780262264358 |
An analysis of the loss in performance caused by selfish, uncoordinated behavior in networks. Most of us prefer to commute by the shortest route available, without taking into account the traffic congestion that we cause for others. Many networks, including computer networks, suffer from some type of this "selfish routing." In Selfish Routing and the Price of Anarchy, Tim Roughgarden studies the loss of social welfare caused by selfish, uncoordinated behavior in networks. He quantifies the price of anarchy—the worst-possible loss of social welfare from selfish routing—and also discusses several methods for improving the price of anarchy with centralized control. Roughgarden begins with a relatively nontechnical introduction to selfish routing, describing two important examples that motivate the problems that follow. The first, Pigou's Example, demonstrates that selfish behavior need not generate a socially optimal outcome. The second, the counterintiuitve Braess's Paradox, shows that network improvements can degrade network performance. He then develops techniques for quantifying the price of anarchy (with Pigou's Example playing a central role). Next, he analyzes Braess's Paradox and the computational complexity of detecting it algorithmically, and he describes Stackelberg routing, which improves the price of anarchy using a modest degree of central control. Finally, he defines several open problems that may inspire further research. Roughgarden's work will be of interest not only to researchers and graduate students in theoretical computer science and optimization but also to other computer scientists, as well as to economists, electrical engineers, and mathematicians.
| Author | : Prajit K. Dutta |
| Publisher | : MIT Press |
| Total Pages | : 713 |
| Release | : 2022-08-09 |
| Genre | : Business & Economics |
| ISBN | : 0262368501 |
The new edition of a widely used introduction to game theory and its applications, with a focus on economics, business, and politics. This widely used introduction to game theory is rigorous but accessible, unique in its balance between the theoretical and the practical, with examples and applications following almost every theory-driven chapter. In recent years, game theory has become an important methodological tool for all fields of social sciences, biology and computer science. This second edition of Strategies and Games not only takes into account new game theoretical concepts and applications such as bargaining and matching, it also provides an array of chapters on game theory applied to the political arena. New examples, case studies, and applications relevant to a wide range of behavioral disciplines are now included. The authors map out alternate pathways through the book for instructors in economics, business, and political science. The book contains four parts: strategic form games, extensive form games, asymmetric information games, and cooperative games and matching. Theoretical topics include dominance solutions, Nash equilibrium, Condorcet paradox, backward induction, subgame perfection, repeated and dynamic games, Bayes-Nash equilibrium, mechanism design, auction theory, signaling, the Shapley value, and stable matchings. Applications and case studies include OPEC, voting, poison pills, Treasury auctions, trade agreements, pork-barrel spending, climate change, bargaining and audience costs, markets for lemons, and school choice. Each chapter includes concept checks and tallies end-of-chapter problems. An appendix offers a thorough discussion of single-agent decision theory, which underpins game theory.
