Models Of Strategic Rationality

Author : Reinhard Selten
Publisher : Springer Science & Business Media
Page : 319 pages
File Size : 49,6 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9789401577748

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Models of Strategic Rationality by Reinhard Selten Pdf

The papers collected in this volume relate to game theory. They aim at the elaboration and discussion of basic con cepts, at the analysis of specific applied models and at the evaluation of experimental evidence. A game is a mathematical model of a situation where several actors with different goals are engaged in strategic inter action. Game theory explores the nature and the consequence. s of rational behavior in games. With respect to several papers in this volume, it seems to be appropriate to comment on later developments. A list of some important references is given at the end of the intro duction. References already included in the collected pa pers are not repeated here. In casual conversation colleagues sometimes observe that the author on the one hand goes to extremes in the elabora tion of the consequences of Bayesian rationality and on the other hand strongly emphasizes the limited rationality of actual decision behavior. This seeming discrepancy is also expressed in the collection presented here. The author thinks that a sharp distinction should be made between nor ~ative and descriptive game theory. This position of "methodological dualism" has been expressed in a comment to Aumann's paper "What is game theory trying to accomplish?" (Aumann, 1985, Selten 1985) Normative game theory has the important task to explore the nature and the consequences of idealized full rationality in strategic interaction. This requires a thorough discuss ion of first principles. Empirical arguments are irrelevant here.

Author : Alan E. Singer
Publisher : Unknown
Page : 162 pages
File Size : 51,8 Mb
Release : 1996
Category : Business planning
ISBN : UCSC:32106013199606

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Strategy as Rationality by Alan E. Singer Pdf

Links the theory of strategic management with the general theory of rationality.

Author : Johan van Benthem,Sujata Ghosh,Rineke Verbrugge
Publisher : Springer
Page : 333 pages
File Size : 45,8 Mb
Release : 2016-01-08
Category : Mathematics
ISBN : 9783662485408

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Models of Strategic Reasoning by Johan van Benthem,Sujata Ghosh,Rineke Verbrugge Pdf

Strategic behavior is the key to social interaction, from the ever-evolving world of living beings to the modern theatre of designed computational agents. Strategies can make or break participants’ aspirations, whether they are selling a house, playing the stock market, or working toward a treaty that limits global warming. This book aims at understanding the phenomenon of strategic behavior in its proper width and depth. A number of experts have combined forces in order to create a comparative view of the different frameworks for strategic reasoning in social interactions that have been developed in game theory, computer science, logic, linguistics, philosophy, and cognitive and social sciences. The chapters are organized in three topic-based sections, namely reasoning about games; formal frameworks for strategies; and strategies in social situations. The book concludes with a discussion on the future of logical studies of strategies.

Author : Robert C. Koons
Publisher : Cambridge University Press
Page : 192 pages
File Size : 48,8 Mb
Release : 2009-01-29
Category : Philosophy
ISBN : 0521100593

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Paradoxes of Belief and Strategic Rationality by Robert C. Koons Pdf

The purpose of this book is to develop a framework for analyzing strategic rationality, a notion central to contemporary game theory, which is the formal study of the interaction of rational agents, and which has proved extremely fruitful in economics, political theory, and business management. The author argues that a logical paradox (known since antiquity as "the Liar paradox") lies at the root of a number of persistent puzzles in game theory, in particular those concerning rational agents who seek to establish some kind of reputation. Building on the work of Parsons, Burge, Gaifman, and Barwise and Etchemendy, Robert Koons constructs a context-sensitive solution to the whole family of Liar-like paradoxes, including, for the first time, a detailed account of how the interpretation of paradoxial statements is fixed by context. This analysis provides a new understanding of how the rational agent model can account for the emergence of rules, practices, and institutions.

Author : Hudson Meadwell
Publisher : Routledge
Page : 228 pages
File Size : 49,6 Mb
Release : 2017-10-19
Category : Social Science
ISBN : 9781351322874

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The Social Sciences and Rationality by Hudson Meadwell Pdf

In recent decades, rational choice theory has emerged as the single most powerful, controversial claimant to provide a unified, theoretical framework for all the social sciences. In its simplest form, the theory postulates that humans are purposive beings who pursue their goals in a rational, efficient manner, seeking the greatest benefit at the lowest cost. This volume brings together prominent scholars working in several social science disciplines and the philosophy of science to debate the promise and problems of rational choice theory. As rational choice theory has spread from its home base in economics to other disciplines, it has come under fierce criticism. To its critics, the extension of the explanatory model mistakenly assumes that the logic of economic rationality can explain non-economic behavior and, at its worst, commits the ethnocentric error of imposing Western concepts of rationality on non-Western societies and cultures. This volume includes strong advocates as well as forceful critics of the rational choice approach. However, in contrast to previous debates, all the contributors share a commitment to open, constructive and knowledgeable dialogue. Well-known advocates of rational choice theory (Michael Hechter, Michael Smith, Chris Manfredi) explicitly ponder some of its serious limitations, while equally well-known critics (Ian Shapiro, Mario Bunge) strike a surprisingly conciliatory tone in contemplating its legitimate uses. Vociferous critics of neoclassical economics (Bunge) favorably discuss sociological proponents of rational choice theory while two economists who are not particularly anti-mainstream (Robin Rowley, George Grantham) critically assess the problems of such assumptions in their discipline. Philosophers (Storrs McCall) and sociologists (John Hall) alike reflect on the variable meaning of rationality in explaining social behavior. In the introduction and conclusion, the editors survey the current state of the debate and show how open, constructive dialogue enables us to move beyond hackneyed accusations and dismissals that have characterized much previous debate.

Author : Alex Mintz,Karl DeRouen Jr
Publisher : Cambridge University Press
Page : 128 pages
File Size : 43,8 Mb
Release : 2010-02-22
Category : Political Science
ISBN : 9781139487221

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Understanding Foreign Policy Decision Making by Alex Mintz,Karl DeRouen Jr Pdf

Understanding Foreign Policy Decision Making presents a psychological approach to foreign policy decision making. This approach focuses on the decision process, dynamics, and outcome. The book includes a wealth of extended real-world case studies and examples that are woven into the text. The cases and examples, which are written in an accessible style, include decisions made by leaders of the United States, Israel, New Zealand, Cuba, Iceland, United Kingdom, and others. In addition to coverage of the rational model of decision making, levels of analysis of foreign policy decision making, and types of decisions, the book includes extensive material on alternatives to the rational choice model, the marketing and framing of decisions, cognitive biases, and domestic, cultural, and international influences on decision making in international affairs. Existing textbooks do not present such an approach to foreign policy decision making, international relations, American foreign policy, and comparative foreign policy.

Author : Gabriel Frahm
Publisher : Walter de Gruyter GmbH & Co KG
Page : 356 pages
File Size : 49,7 Mb
Release : 2019-09-23
Category : Business & Economics
ISBN : 9783110596106

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Rational Choice and Strategic Conflict by Gabriel Frahm Pdf

"This book is refreshing, innovative and important for several reasons. Perhaps most importantly, it attempts to reconcile game theory with one-person decision theory by viewing a game as a collection of one-person decision problems. As natural as this approach may seem, it is hard to find game theory books that really implement this view. This book is a wonderful exception, in which the transition between decision theory and game theory is both smooth and natural. It shows that decision theory and game theory can go—and, in fact, must go—hand in hand. The careful exposition, the many illustrative examples, the critical assessment of traditional game theory concepts, and the enlightening comparison with the subjectivistic approach advocated in this book, make it a pleasure to read and a must have for anyone interested in the foundations of decision theory and game theory." Andrés Perea (Maastricht University) "Gabriel Frahm's relatively nontechnical book is a bold synthesis of decision theory and game theory from a Bayesian or subjectivist perspective. It distinguishes between decisions, or one-person games, and games with two or more players, but Frahm argues that this distinction is not always necessary—the two kinds of games can be analyzed within a common theoretical framework. He models the dynamics of choice in several different settings (e.g., information may be complete or incomplete as well as perfect or imperfect), including one in which players look ahead and make farsighted calculations on which they base their choices. His book contains many provocative examples that illustrate the advantages of a unified theory of rational decision-making." Steven J. Brams (New York University)

Author : S. Huck
Publisher : Springer
Page : 341 pages
File Size : 49,7 Mb
Release : 2004-10-29
Category : Business & Economics
ISBN : 9780230523371

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Advances in Understanding Strategic Behaviour by S. Huck Pdf

This volume contains sixteen original articles documenting recent progress in understanding strategic behaviour. In their variety they reflect an entire spectrum of coexisting approaches: from orthodox game theory via behavioural game theory, bounded rationality and economic psychology to experimental economics. There are plenty of new models and insights but the book also illustrates the boundaries of what we know today and explains the frontiers of tomorrow. The articles were written in honour of Werner Güth.

Author : Pietro Dino Enrico Dindo
Publisher : Rozenberg Publishers
Page : 180 pages
File Size : 41,9 Mb
Release : 2007
Category : Economic modelling
ISBN : 9789051709360

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Bounded rationality and heterogeneity in economic dynamic models by Pietro Dino Enrico Dindo Pdf

Author : Robert C. Koons
Publisher : Cambridge University Press
Page : 192 pages
File Size : 51,5 Mb
Release : 1992-01-31
Category : Mathematics
ISBN : 9780521412698

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Paradoxes of Belief and Strategic Rationality by Robert C. Koons Pdf

The author argues that a logical paradox lies at the root of a number of persistent puzzles in game theory, in particular those concerning rational agents who seek to establish some kind of reputation. This analysis provides an understanding of how the rational agent model can account for the emergence of rules, practices and institutions.

Author : Peter Danielson
Publisher : New York : Oxford University Press
Page : 474 pages
File Size : 43,6 Mb
Release : 1998
Category : Ethics
ISBN : 9780195125498

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Modeling Rationality, Morality, and Evolution by Peter Danielson Pdf

These essays focus on questions that arise when morality is considered from the perspective of rational choice and evolution. It links questions like ""is it rational to be moral?"" to the evolution of co-operation, and uses models from game theory, evolutionary biology and cognitive science.

Author : Ran Spiegler
Publisher : Oxford University Press
Page : 240 pages
File Size : 54,9 Mb
Release : 2011-02-18
Category : Business & Economics
ISBN : 0199813426

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Bounded Rationality and Industrial Organization by Ran Spiegler Pdf

Conventional economic theory assumes that consumers are fully rational, that they have well-defined preferences and easily understand the market environment. Yet, in fact, consumers may have inconsistent, context-dependent preferences or simply not enough brain-power to evaluate and compare complicated products. Thus the standard model of consumer behavior-which depends on an ideal market in which consumers are boundlessly rational-is called into question. While behavioral economists have for some time confirmed and characterized these inconsistencies, the logical next step is to examine the implications they have in markets. Grounded in key observations in consumer psychology, Bounded Rationality and Industrial Organization develops non-standard models of "boundedly rational" consumer behavior and embeds them into familiar models of markets. It then rigorously analyses each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. Ran Spiegler analyses phenomena such as exploitative price plans in the credit market, complexity of financial products and other obfuscation practices, consumer antagonism to unexpected price increases, and the role of default options in consumer decision making. Spiegler unifies the relevant literature into three main strands: limited ability to anticipate and control future choices, limited ability to understand complex market environments, and sensitivity to reference points. Although the challenge of enriching the psychology of decision makers in economic models has been at the frontier of theoretical research in the last decade, there has been no graduate-level, theory-oriented textbook to cover developments in the last 10-15 years. Thus, Bounded Rationality and Industrial Organization offers a welcome and crucial new understanding of market behavior-it challenges conventional wisdom in ways that are interesting and economically significant, and which in the end effect the well-being of all market participants.

Author : Edward Fullbrook
Publisher : Routledge
Page : 320 pages
File Size : 52,5 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134499779

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Intersubjectivity in Economics by Edward Fullbrook Pdf

Traditional economics treats the defining subjective properties of economic agents (tastes, preferences, demands, goals and perceptions) as if they are determined independently of individual and collective relations with other agents. This collection of essays reflects the increasingly common view that economics cannot continue to disregard all economic phenomena inconsistent with this conception. The volume is especially concerned with the idea of intersubjective influences on market outcomes. A team of expert international contributors have been brought together to address the question of intersubjectivity from a variety of perspectives. Using methods of description and analysis they explore the structures and effects of concrete interdependencies between individual subjectivities engaged in economic activity, and develop conceptual and analytical tools for this task. Many of the essays are interdisciplinary in scope and in addition to economics the book should provide valuable lessons in psychology, sociology, social theory, philosophy, political science and history.

Author : Wiebe van der Hoek,Wesley H. Holliday,Wen-fang Wang
Publisher : Springer
Page : 439 pages
File Size : 46,5 Mb
Release : 2015-10-28
Category : Mathematics
ISBN : 9783662485613

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Logic, Rationality, and Interaction by Wiebe van der Hoek,Wesley H. Holliday,Wen-fang Wang Pdf

FoLLI-LNCS is the publication platform for the Association of Logic, Language and Information (FoLLI, www.folli.org). The Association was founded in 1991 to advance research and education on the interface between logic, linguistics, computer science, and cognitive science. The FoLLI Publications on Logic, Language and Information aim to disseminate results of cutting-edge research and tutorial materials in these interdisciplinary areas. This LNCS volume is part of FoLLi book serie and contains the papers presented at the 5th International Workshop on Logic, Rationality and Interaction/ (LORI-V), held in October 2015 in Taipei, Taiwan. The topics covered in this program well represent the span and depth that hasby now become a trademark of the LORI workshop series, where logic interfaceswith disciplines as diverse as game theory and decision theory, philosophyand epistemology, linguistics, computer science and artificial intelligence.

Author : Maged Hassanien
Publisher : GRIN Verlag
Page : 65 pages
File Size : 46,5 Mb
Release : 2021-02-02
Category : Business & Economics
ISBN : 9783346339102

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Concepts and Models of Strategic Planning by Maged Hassanien Pdf

Scientific Essay from the year 2020 in the subject Business economics - Organization, , language: English, abstract: The topic of strategic planning is an enormously important field of research for science and business for content and thematic reasons. This makes further consideration of strategic planning useful. In terms of content, strategic planning and its instruments are important for the long-term success of the company, as outlined above. From a thematic point of view, the orderly and targeted discussion and critical consideration of the selected common instruments/methods to support the tasks of strategic planning is another scientific and meaningful contribution/discourse. Here, the appropriateness/limitation of the instruments for supporting the strategic tasks is discussed by presenting the instruments for the tasks and examining them for strengths and weaknesses.