Economic Analysis Of Markets And Games

Author : Partha Dasgupta
Publisher : MIT Press
Page : 666 pages
File Size : 50,9 Mb
Release : 1992
Category : Business & Economics
ISBN : 0262041278

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Economic Analysis of Markets and Games by Partha Dasgupta Pdf

These original essays focus on a wide range of topics related to Frank Hahn'sdistinguished work in economics. Ranging from market analysis and game theory to the microeconomicfoundations of macroeconomics and from equilibrium and optimality with missing markets to economicsand society, they reflect the diversity of modem research in economic theory. What distinguishesHahn's work and many of the essays in this book is that the motivation often comes from practicalconcerns about unemployment, savings and investment, poverty, or the stability of markets.The essaysin Part I deal with the microeconomic foundations of macroeconomics - a field in which Hahn has madeimportant contributions, most notably in the theory of monetary economics. Topics include anevaluation of Hahn's contribution to the theory of distribution and such macroeconomic themes ascoordination failure, multiple equilibria, and strategic issues.Part II contains recentcontributions to game theory reflecting Hahn's interest in the question of what is rationalbehavior. The essays in Part III concentrate on general-equilibrium theory with missing markets, afield in which Hahn has made major advances. Although the essays address a different set of issues,they share with Hahn's works such themes as market failure, indeterminacy of equilibrium, and therole of money.Partha Dasgupta is Professor of Economics at Cambridge University. Douglas Gale isProfessor of Economics at Boston University. Oliver Hart is Professor of Economics at theMassachusetts Institute of Technology. Eric Maskin is Professor of Economics at HarvardUniversity.

Author : Christian Schmidt
Publisher : Routledge
Page : 202 pages
File Size : 48,8 Mb
Release : 2002-06-20
Category : Business & Economics
ISBN : 9781134511181

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Game Theory and Economic Analysis by Christian Schmidt Pdf

This book presents the huge variety of current contributions of game theory to economics. The reader is taken through a concise history of game theory and exposed to original pieces of work that are significant to game theory as a whole.

Author : Tatsuro Ichiishi
Publisher : Elsevier
Page : 164 pages
File Size : 45,8 Mb
Release : 2014-06-28
Category : Mathematics
ISBN : 9781483295060

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Game Theory for Economic Analysis by Tatsuro Ichiishi Pdf

Game Theory for Economic Analysis

Author : Pierpaolo Battigalli,Aldo M. Montesano,Fausto Panunzi
Publisher : Springer Science & Business Media
Page : 373 pages
File Size : 54,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461563372

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Decisions, Games and Markets by Pierpaolo Battigalli,Aldo M. Montesano,Fausto Panunzi Pdf

Decisions, Games and Markets is designed to stimulate new developments in decision theory, game theory and general equilibrium theory, as well as in their applications to economics. The book is divided into three parts - Decision Theory, Game Theory, and the Theory of Markets. Though its orientation is primarily methodological, some articles are more applied. The consistent use of formal analysis and methodological individualism constitutes the unifying theme of the book. Decisions, Games and Markets will be of considerable interest to both students and teachers of microeconomics and game and decision theory.

Author : Schmidt
Publisher : Unknown
Page : 256 pages
File Size : 43,9 Mb
Release : 2004
Category : Electronic
ISBN : 1858985102

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Game Theory and Economic Analysis by Schmidt Pdf

Author : Raimo P. Hämäläinen,Harri Kalevi Ehtamo
Publisher : Springer
Page : 336 pages
File Size : 42,8 Mb
Release : 1991
Category : Business & Economics
ISBN : UOM:39015021819738

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Dynamic Games in Economic Analysis by Raimo P. Hämäläinen,Harri Kalevi Ehtamo Pdf

Author : Sanjit S. Dhami
Publisher : Oxford University Press
Page : 1799 pages
File Size : 44,7 Mb
Release : 2016
Category : Economics
ISBN : 9780198715528

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The Foundations of Behavioral Economic Analysis by Sanjit S. Dhami Pdf

It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance.

Author : Charles A. Holt
Publisher : Princeton University Press
Page : 128 pages
File Size : 40,9 Mb
Release : 2019-03-12
Category : Business & Economics
ISBN : 9780691188973

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Markets, Games, and Strategic Behavior by Charles A. Holt Pdf

From a pioneer in experimental economics, an expanded and updated edition of a textbook that brings economic experiments into the classroom Economics is rapidly becoming a more experimental science, and the best way to convey insights from this research is to engage students in classroom simulations that motivate subsequent discussions and reading. In this expanded and updated second edition of Markets, Games, and Strategic Behavior, Charles Holt, one of the leaders in experimental economics, provides an unparalleled introduction to the study of economic behavior, organized around risky decisions, games of strategy, and economic markets that can be simulated in class. Each chapter is based on a key experiment, presented with accessible examples and just enough theory. Featuring innovative applications from the lab and the field, the book introduces new research on a wide range of topics. Core chapters provide an introduction to the experimental analysis of markets and strategic decisions made in the shadow of risk or conflict. Instructors can then pick and choose among topics focused on bargaining, game theory, social preferences, industrial organization, public choice and voting, asset market bubbles, and auctions. Based on decades of teaching experience, this is the perfect book for any undergraduate course in experimental economics or behavioral game theory. New material on topics such as matching, belief elicitation, repeated games, prospect theory, probabilistic choice, macro experiments, and statistical analysis Participatory experiments that connect behavioral theory and laboratory research Largely self-contained chapters that can each be covered in a single class Guidance for instructors on setting up classroom experiments, with either hand-run procedures or free online software End-of-chapter problems, including some conceptual-design questions, with hints or partial solutions provided

Author : Michael Bacharach
Publisher : Unknown
Page : 128 pages
File Size : 43,8 Mb
Release : 2019
Category : Economics, Mathematical
ISBN : 0429748108

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Economics and the Theory of Games by Michael Bacharach Pdf

This textbook offers a systematic, self-contained account of the main contributions of modern game theory and its applications to economics. Starting with a detailed description of how to model strategic situations, the discussion proceeds by studying basic solution concepts, their main refinements, games played under incomplete information, and repeated games. For each of these theoretical developments, there is a companion set of applications that cover the most representative instances of game-theoretic analysis in economics, e.g. oligopolistic competition, public goods, coordination failures, bargaining, insurance markets, implementation theory, signaling and auctions. The theory and applications covered in the first part of the book fall under the so-called 'classical' approach to game theory, which is founded on the paradigm of players' unlimited rationality. The second part shifts towards topics that no longer abide by that paradigm. This leads to the study of topics such as the interplay between evolution and rationality.

Author : Vili Lehdonvirta,Edward Castronova
Publisher : MIT Press
Page : 307 pages
File Size : 42,7 Mb
Release : 2014-05-09
Category : Business & Economics
ISBN : 9780262535069

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Virtual Economies by Vili Lehdonvirta,Edward Castronova Pdf

How the basic concepts of economics—including markets, institutions, and money—can be used to create and analyze economies based on virtual goods. In the twenty-first-century digital world, virtual goods are sold for real money. Digital game players happily pay for avatars, power-ups, and other game items. But behind every virtual sale, there is a virtual economy, simple or complex. In this book, Vili Lehdonvirta and Edward Castronova introduce the basic concepts of economics into the game developer's and game designer's toolkits. Lehdonvirta and Castronova explain how the fundamentals of economics—markets, institutions, and money—can be used to create or analyze economies based on artificially scarce virtual goods. They focus on virtual economies in digital games, but also touch on serious digital currencies such as Bitcoin as well as virtual economies that emerge in social media around points, likes, and followers. The theoretical emphasis is on elementary microeconomic theory, with some discussion of behavioral economics, macroeconomics, sociology of consumption, and other social science theories relevant to economic behavior. Topics include the rational choice model of economic decision making; information goods versus virtual goods; supply, demand, and market equilibrium; monopoly power; setting prices; and externalities. The book will enable developers and designers to create and maintain successful virtual economies, introduce social scientists and policy makers to the power of virtual economies, and provide a useful guide to economic fundamentals for students in other disciplines.

Author : Sanjit Dhami
Publisher : Unknown
Page : 459 pages
File Size : 49,7 Mb
Release : 2019-06-27
Category : Electronic
ISBN : 9780198847250

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The Foundations of Behavioral Economic Analysis by Sanjit Dhami Pdf

This fourth volume of The Foundations of Behavioral Economic Analysis covers behavioral game theory. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines the evidence on classical game theory and several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological gametheory.This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests inbehavioural economics.

Author : Frank Hahn
Publisher : Oxford University Press, USA
Page : 528 pages
File Size : 46,6 Mb
Release : 1989
Category : Business & Economics
ISBN : UOM:39015014580719

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The Economics of Missing Markets, Information, and Games by Frank Hahn Pdf

This collection of papers is the result of a Cambridge University study of the consequences of missing markets, asymmetric information, market-dependent information, strategic market situations, and the role of quantity signals. The contributors also consider the behavior of overlapping generation models and their macroeconomic implications, providing a useful reference text on most of the main issues of current interest to economic theorists.

Author : Ronald B. Shelton
Publisher : John Wiley & Sons
Page : 225 pages
File Size : 53,5 Mb
Release : 1997-04-25
Category : Business & Economics
ISBN : 9780471168133

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Gaming the Market by Ronald B. Shelton Pdf

Die Spieltheorie betrachtet Entscheidungen als "Schachzüge" in einem Spiel, dessen Ausgang von den Entscheidungen aller Spieler bestimmt wird. Diese Theorie wird hier erstmals auf Investmentgeschäfte am Finanzmarkt angewendet. Nach der Definition der "Spielregeln" und der "Spieler" wird, basierend auf Formeln der Wahrscheinlichkeitsrechnung, ein Spielmodell entwickelt, das die Rentabilität von beliebigen Finanzaktionen wie Aktienkauf und -verkauf vorhersagt.

Author : Christian Funke
Publisher : GRIN Verlag
Page : 65 pages
File Size : 54,8 Mb
Release : 2007-06-25
Category : Finance
ISBN : 9783638646123

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Applying Game Theory in Finance by Christian Funke Pdf

Seminar paper from the year 2003 in the subject Business economics - Investment and Finance, printed single-sided, grade: 1,0 (A), European Business School - International University Schloss Reichartshausen Oestrich-Winkel (Department for Corporate Finance and Capital Markets), course: Seminar International Corporate Finance, 50 entries in the bibliography, language: English, abstract: The groundbreaking work of MODIGLIANI & MILLER (MM) introduced the rigors of economic analysis to financial research. This is generally considered the beginning point of modern managerial finance. Their first economic models were challenged by financial practitioners for being overly simplistic in their assumptions and, therefore, lacking real world application value. MM acknowledged and addressed this fact in their first paper. Later models relaxed some assumptions, such as symmetric information or complete contracts, while trying to retain an explanatory value in the spirit of the original MM papers. This incorporation of more realistic elements, such as strategic interaction and asymmetric information, brought several problems to financial economists' models: they required a lot of definitions, became even more complex and were not easily comparable. Game theory provided a solution for those problems in its first applications to economics in the 70s and 80s: a set of common definitions and a basic language to guarantee comparability and empirical testability of financial models using game theoretic concepts. Nowadays, there are few issues in finance research which have not been modeled by applying game theoretic concepts, and therefore it is crucial to be familiar with the basics of game theory and its application in finance. The objective of this paper is to provide an intuitive approach to game theory in finance by first giving an overview of the basic foundations of game theory, and then providing a survey of some selected applications most relevant to the financial practitioner."

Author : George Norman,Jacques-François Thisse
Publisher : Cambridge University Press
Page : 309 pages
File Size : 40,6 Mb
Release : 2000-11-30
Category : Business & Economics
ISBN : 9781139428583

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Market Structure and Competition Policy by George Norman,Jacques-François Thisse Pdf

This 2000 text applies modern advances in game theory to the analysis of competition policy and develops some of the theoretical and policy concerns associated with the pioneering work of Louis Phlips. Containing contributions by leading scholars from Europe and North America, this book observes a common theme in the relationship between the regulatory regime and market structure. Since the inception of the new industrial organization, economists have developed a better understanding of how real-world markets operate. These results have particular relevance to the design and application of anti-trust policy. Analyses indicate that picking the most competitive framework in the short run may be detrimental to competition and welfare in the long run, concentrating the attention of policy makers on the impact on the long-run market structure. This book provides essential reading for graduate students of industrial and managerial economics as well as researchers and policy makers.