A Primer in Game Theory

Author: Roberto Lucchetti

Publisher: Società Editrice Esculapio

ISBN: 8874884680

Category: Mathematics

Page: 168

View: 329


A game is an efficient model of interactions between agents, for the following basic reason: the players follow fixed rules, have interests on all possible final outcomes of the game, and the final result for them does not depend only from the choices they individually make, but also from the choices of other agents. Thus the focus is actually on the fact that in a game there are several agents interacting. In fact, more recently this theory took the name of Interactive Decision Theory. It is related to classical decision theory, but it takes into account the presence of more than one agent taking decisions. As we shall constantly see, this radically changes the background and sometimes even the intuition behind classical decision theory. So, in few words, game theory is the study of taking optimal decisions in presence of multiple players (agents). Thus a game is a simplified, yet very efficient, model of real life every day situa- tions. Though the first, and probably more intuitive, applications of the theory were in an economical setting, theoretical models and tools of this theory nowadays are spread on various disciplines. To quote some of them, we can start from psychology: a more modern approach than classical psychanalysis takes into account that the hu- man being is mainly an interactive agent. So to speak, we play everyday with our professors/students, with our parents/children, with our lover, when bargaining with somebody. Also the Law and the Social Sciences are obviously interested in Game Theory, since the rules play a crucial role in inducing the behaviour of the agents. Not many years after the first systematic studies in Game Theory, interesting ap- plications appeared to animals, starting with the analysis of competing species. It is much more recent and probably a little surprising to know that recent applications of the theory deal with genes in microbiology, or computers in telecommunication problems. In some sense, today many scholars do believe that these will be the more interesting applications in the future: for reasons that we shall constantly see later, humans in some sense are not so close to the rational player imagined by the theory, while animals and computers “act” in a more rational way than human beings, clearly in an unconscious yet efficient manner.

Game Theory for Business

A Primer in Strategic Gaming

Author: Paul A. Papayoanou

Publisher: Probabilistic Publishing

ISBN: 9780964793873

Category: Game theory

Page: 173

View: 5031


Business executives, managers, and negotiators regularly interact in ways that resemble a game of chess. Yet while game theory is the leading tool in academia for analyzing such interdependent choices, its use in the business world has been limited by its perceived lack of practicality. Until now, that is. "Game Theory for Business: A Primer in Strategic Gaming" outlines a straightforward, practical approach for using game theory. The book demonstrates how Strategic Gaming has, can, and should be applied to help savvy strategists and negotiators shape and play the game of business effectively.

Institutions and the Path to the Modern Economy

Lessons from Medieval Trade

Author: Avner Greif

Publisher: Cambridge University Press

ISBN: 1139447068

Category: Political Science

Page: N.A

View: 3318


It is widely believed that current disparities in economic, political, and social outcomes reflect distinct institutions. Institutions are invoked to explain why some countries are rich and others poor, some democratic and others dictatorial. But arguments of this sort gloss over the question of what institutions are, how they come about, and why they persist. They also fail to explain why institutions are influenced by the past, why it is that they can sometimes change, why they differ so much from society to society, and why it is hard to study them empirically and devise a policy aimed at altering them. This 2006 book seeks to overcome these problems, which have exercised economists, sociologists, political scientists, and a host of other researchers who use the social sciences to study history, law, and business administration. It presents a multi-disciplinary perspective to study endogenous institutions and their dynamics.

Dictionary of Evidence-based Medicine

Author: Alain Wan Po Li

Publisher: Radcliffe Publishing

ISBN: 9781857753059

Category: Evidence-based medicine

Page: 163

View: 9608


Draws on terminology used in biostatistics, epidemiology, health economics, philosophy, ethics, logic and the social sciences.

Analyzing Strategic Behavior in Business and Economics

A Game Theory Primer

Author: Thomas J. Webster

Publisher: Lexington Books

ISBN: 0739186051

Category: Business & Economics

Page: 299

View: 6389


This textbook is an introduction to game theory, which is the systematic analysis of decision-making in interactive settings. Game theory can be of great value to business managers. The ability to correctly anticipate countermove by rival firms in competitive and cooperative settings enables managers to make more effective marketing, advertising, pricing, and other business decisions to optimally achieve the firm’s objectives. Game theory does not always accurately predict how rivals will act in strategic situations, but does identify a decision maker’s best response to situations involving move and countermove. As Nobel Prize winner Thomas Shelling noted: “We may wish to understand how participants actually do conduct themselves in conflict situations; an understanding of the ‘correct’ play may give us a bench mark for the study of actual behavior.” The concise and axiomatic approach to the material presented in this textbook is easily accessible to students with a background in the principles of microeconomics and college mathematics. The selection and organizations of topics makes the textbook appropriate for use in a wide range of curricula by students with different backgrounds.

Independence-Friendly Logic

A Game-Theoretic Approach

Author: Allen L. Mann,Gabriel Sandu,Merlijn Sevenster

Publisher: Cambridge University Press

ISBN: 1139495917

Category: Mathematics

Page: N.A

View: 8597


Bringing together over twenty years of research, this book gives a complete overview of independence-friendly logic. It emphasizes the game-theoretical approach to logic, according to which logical concepts such as truth and falsity are best understood via the notion of semantic games. The book pushes the paradigm of game-theoretical semantics further than the current literature by showing how mixed strategies and equilibria can be used to analyze independence-friendly formulas on finite models. The book is suitable for graduate students and advanced undergraduates who have taken a course on first-order logic. It contains a primer of the necessary background in game theory, numerous examples and full proofs.

A Primer in Social Choice Theory

Author: Wulf Gaertner

Publisher: Oxford University Press, USA

ISBN: 9780199297504

Category: Business & Economics

Page: 200

View: 8174


This introductory text explores the theory of social choice. Written as a primer suitable for advanced undergraduates and graduates, this text will act as an important starting point for students grappling with the complexities of social choice theory. Rigorous yet accessible, this primer avoids the use of technical language and provides an up-to-date discussion of this rapidly developing field. This is the first in a series of texts published in association with the LSE.

Game Theory and its Applications

In the Social and Biological Sciences

Author: Andrew M. Colman

Publisher: Psychology Press

ISBN: 1134987560

Category: Business & Economics

Page: 392

View: 1476


Andrew Coleman provides an accessible introduction to the fundamentals of mathematical gaming and other major applications in social psychology, decision theory, economics, politics, evolutionary biology, philosophy, operational research and sociology.

Complexity Management in Engineering Design – a Primer

Author: Maik Maurer

Publisher: Springer

ISBN: 3662534487

Category: Technology & Engineering

Page: 153

View: 3046


The treatise supports understanding the phenomena of complexity in engineering, distinguishes complexity from other challenges and presents an overview of definitions and applied approaches.The historical background of complexity management is explained by highlighting the important epochs, their key actors and their discoveries, findings and developments. Knowing about the appearance of early system awareness in ancient Greece, the creation of mechanical philosophy in the 17th century and the discovery of classic physics enables the reader to better comprehend modern system sciences and management approaches.A classification of complexity management approaches by research fields indicates current focus areas and starting points for future discussions. In a comprehensive map, the classification points out mutual overlaps between engineering disciplines in terms of similar complexity management approaches.Finally, the treatise introduces a generic complexity management framework, which is based on structural management approaches.