Game Theory Experience Rationality
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Author | : W. Leinfellner |
Publisher | : Springer Science & Business Media |
Total Pages | : 476 |
Release | : 2013-06-29 |
Genre | : Business & Economics |
ISBN | : 9401716544 |
When von Neumann's and Morgenstern's Theory of Games and Economic Behavior appeared in 1944, one thought that a complete theory of strategic social behavior had appeared out of nowhere. However, game theory has, to this very day, remained a fast-growing assemblage of models which have gradually been united in a new social theory - a theory that is far from being completed even after recent advances in game theory, as evidenced by the work of the three Nobel Prize winners, John F. Nash, John C. Harsanyi, and Reinhard Selten. Two of them, Harsanyi and Selten, have contributed important articles to the present volume. This book leaves no doubt that the game-theoretical models are on the right track to becoming a respectable new theory, just like the great theories of the twentieth century originated from formerly separate models which merged in the course of decades. For social scientists, the age of great discover ies is not over. The recent advances of today's game theory surpass by far the results of traditional game theory. For example, modem game theory has a new empirical and social foundation, namely, societal experiences; this has changed its methods, its "rationality. " Morgenstern (I worked together with him for four years) dreamed of an encompassing theory of social behavior. With the inclusion of the concept of evolution in mathematical form, this dream will become true. Perhaps the new foundation will even lead to a new name, "conflict theory" instead of "game theory.
Author | : Alfred R. Mele |
Publisher | : Oxford University Press |
Total Pages | : 498 |
Release | : 2004-01-08 |
Genre | : Philosophy |
ISBN | : 9780198033240 |
Rationality has long been a central topic in philosophy, crossing standard divisions and categories. It continues to attract much attention in published research and teaching by philosophers as well as scholars in other disciplines, including economics, psychology, and law. The Oxford Handbook of Rationality is an indispensable reference to the current state of play in this vital and interdisciplinary area of study. Twenty-two newly commissioned chapters by a roster of distinguished philosophers provide an overview of the prominent views on rationality, with each author also developing a unique and distinctive argument.
Author | : Russell Golman |
Publisher | : MDPI |
Total Pages | : 128 |
Release | : 2021-01-07 |
Genre | : Business & Economics |
ISBN | : 3039437739 |
How do interacting decision-makers make strategic choices? If they’re rational and can somehow predict each other’s behavior, they may find themselves in a Nash equilibrium. However, humans display pervasive and systematic departures from rationality. They often do not conform to the predictions of the Nash equilibrium, or its various refinements. This has led to the growth of behavioral game theory, which accounts for how people actually make strategic decisions by incorporating social preferences, bounded rationality (for example, limited iterated reasoning), and learning from experience. This book brings together new advances in the field of behavioral game theory that help us understand how people actually make strategic decisions in game-theoretic situations.
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 | : John C. Harsanyi |
Publisher | : CUP Archive |
Total Pages | : 340 |
Release | : 1986 |
Genre | : Decision-making |
ISBN | : 9780521311830 |
This is a paperback edition of a major contribution to the field, first published in hard covers in 1977. The book outlines a general theory of rational behaviour consisting of individual decision theory, ethics, and game theory as its main branches. Decision theory deals with a rational pursuit of individual utility; ethics with a rational pursuit of the common interests of society; and game theory with an interaction of two or more rational individuals, each pursuing his own interests in a rational manner.
Author | : Ken Binmore |
Publisher | : Princeton University Press |
Total Pages | : 214 |
Release | : 2008-12-29 |
Genre | : Mathematics |
ISBN | : 1400833094 |
It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to "look before you leap." If taken seriously, this view makes Bayesian decision theory inappropriate for the large worlds of scientific discovery and macroeconomic enterprise. When is it correct to use Bayesian decision theory--and when does it need to be modified? Using a minimum of mathematics, Rational Decisions clearly explains the foundations of Bayesian decision theory and shows why Savage restricted the theory's application to small worlds. The book is a wide-ranging exploration of standard theories of choice and belief under risk and uncertainty. Ken Binmore discusses the various philosophical attitudes related to the nature of probability and offers resolutions to paradoxes believed to hinder further progress. In arguing that the Bayesian approach to knowledge is inadequate in a large world, Binmore proposes an extension to Bayesian decision theory--allowing the idea of a mixed strategy in game theory to be expanded to a larger set of what Binmore refers to as "muddled" strategies. Written by one of the world's leading game theorists, Rational Decisions is the touchstone for anyone needing a concise, accessible, and expert view on Bayesian decision making.
Author | : João P. Hespanha |
Publisher | : Princeton University Press |
Total Pages | : 242 |
Release | : 2017-06-13 |
Genre | : Mathematics |
ISBN | : 0691175217 |
Noncooperative Game Theory is aimed at students interested in using game theory as a design methodology for solving problems in engineering and computer science. João Hespanha shows that such design challenges can be analyzed through game theoretical perspectives that help to pinpoint each problem's essence: Who are the players? What are their goals? Will the solution to "the game" solve the original design problem? Using the fundamentals of game theory, Hespanha explores these issues and more. The use of game theory in technology design is a recent development arising from the intrinsic limitations of classical optimization-based designs. In optimization, one attempts to find values for parameters that minimize suitably defined criteria—such as monetary cost, energy consumption, or heat generated. However, in most engineering applications, there is always some uncertainty as to how the selected parameters will affect the final objective. Through a sequential and easy-to-understand discussion, Hespanha examines how to make sure that the selection leads to acceptable performance, even in the presence of uncertainty—the unforgiving variable that can wreck engineering designs. Hespanha looks at such standard topics as zero-sum, non-zero-sum, and dynamics games and includes a MATLAB guide to coding. Noncooperative Game Theory offers students a fresh way of approaching engineering and computer science applications. An introduction to game theory applications for students of engineering and computer science Materials presented sequentially and in an easy-to-understand fashion Topics explore zero-sum, non-zero-sum, and dynamics games MATLAB commands are included
Author | : Andrés Perea |
Publisher | : Cambridge University Press |
Total Pages | : 581 |
Release | : 2012-06-07 |
Genre | : Business & Economics |
ISBN | : 1107008913 |
The first textbook to explain the principles of epistemic game theory.
Author | : K. G. Binmore |
Publisher | : Oxford University Press |
Total Pages | : 652 |
Release | : 2007-03-29 |
Genre | : Business & Economics |
ISBN | : 0195300572 |
Ken Binmore's previous game theory textbook, Fun and Games (D.C. Heath, 1991), carved out a significant niche in the advanced undergraduate market; it was intellectually serious and more up-to-date than its competitors, but also accessibly written. Its central thesis was that game theory allows us to understand many kinds of interactions between people, a point that Binmore amply demonstrated through a rich range of examples and applications. This replacement for the now out-of-date 1991 textbook retains the entertaining examples, but changes the organization to match how game theory courses are actually taught, making Playing for Real a more versatile text that almost all possible course designs will find easier to use, with less jumping about than before. In addition, the problem sections, already used as a reference by many teachers, have become even more clever and varied, without becoming too technical. Playing for Real will sell into advanced undergraduate courses in game theory, primarily those in economics, but also courses in the social sciences, and serve as a reference for economists.
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