Stability And Perfection Of Nash Equilibria

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Stability and Perfection of Nash Equilibria

Eric van Damme
Stability and Perfection of Nash Equilibria Book PDF

Author : Eric van Damme
Publisher : Springer Science & Business Media
Page : 331 pages
File Size : 54,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642969782

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Stability and Perfection of Nash Equilibria by Eric van Damme Pdf

The last decade has seen a steady increase in the application of concepts from noncooperative game theory to such diverse fields as economics, political science, law, operations research, biology and social psychology. As a byproduct of this increased activity, there has been a growing awareness of the fact that the basic noncooperative solution concept, that of Nash equilibrium, suffers from severe drawbacks. The two main shortcomings of this concept are the following: (i) In extensive form games, a Nash strategy may prescribe off the equilibrium path behavior that is manifestly irrational. (Specifically, Nash equilibria may involve incredible threats), (ii) Nash equilibria need not be robust with respect to small perturbations in the data of the game. Confronted with the growing evidence to the detriment of the Nash concept, game theorists were prompted to search for more refined equilibrium notions with better properties and they have come up with a wide array of alternative solution concepts. This book surveys the most important refinements that have been introduced. Its objectives are fourfold (i) to illustrate desirable properties as well as drawbacks of the various equilibrium notions by means of simple specific examples, (ii) to study the relationships between the various refinements, (iii) to derive simplifying characterizations, and (iv) to discuss the plausibility of the assumptions underlying the concepts.

Stability and Perfection of Nash Equilibria

Eric van Damme
Stability and Perfection of Nash Equilibria Book PDF

Author : Eric van Damme
Publisher : Springer Science & Business Media
Page : 354 pages
File Size : 49,7 Mb
Release : 2012-12-06
Category : Mathematics
ISBN : 9783642582424

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Stability and Perfection of Nash Equilibria by Eric van Damme Pdf

I have been pleased with the favourable reception of the first edition of this book and I am grateful to have the opportunity to prepare this second edition. In this revised and enlarged edition I corrected some misprints and errors that occurred in the first edition (fortunately I didn't find too many) and I added a large number of notes that give the reader an impression of what kind of results have been obtained since the first edition was printed and that give an indication of the direction the subject is taking. Many of the notes discuss (or refer to papers discussing) applications of the refinements that are considered. Of course, it is the quantity and the quality of the insights and the applications that lend the refinements their validity. Although the guide to the applications is far from complete, the notes certainly allow the reader to form a good judgement of which refinements have really yielded new insights. Hence, as in the first edition, I will refrain from speculating on which refinements of Nash equilibria will survive in the long run. To defend this position let me also cite Binmore [1990] who compares writing about refinements to the Herculean task of defeating the nine-headed Hydra which grew too heads for each that was struck off. It is a pleasure to have the opportunity to thank my secretary, Marjoleine de Wit, who skilfully and, as always, cheerfully typed the manuscript and did the proofreading.

Existence and Stability of Nash Equilibrium

Guilherme Carmona
Existence and Stability of Nash Equilibrium Book PDF

Author : Guilherme Carmona
Publisher : World Scientific
Page : 153 pages
File Size : 48,5 Mb
Release : 2013
Category : Business & Economics
ISBN : 9789814390651

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Existence and Stability of Nash Equilibrium by Guilherme Carmona Pdf

The book aims at describing the recent developments in the existence and stability of Nash equilibrium. The two topics are central to game theory and economics and have been extensively researched. Recent results on existence and stability of Nash equilibrium are scattered and the relationship between them has not been explained clearly. The book will make these results easily accessible and understandable to researchers in the field. Book jacket.

Refinements of the Nash Equilibrium Concept

E. van Damme
Refinements of the Nash Equilibrium Concept Book PDF

Author : E. van Damme
Publisher : Springer Science & Business Media
Page : 161 pages
File Size : 41,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642499708

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Refinements of the Nash Equilibrium Concept by E. van Damme Pdf

In this monograph, noncooperative games are studied. Since in a noncooperative game binding agreements are not possible, the solution of such a game has to be self enforcing, i. e. a Nash equilibrium (NASH [1950,1951J). In general, however, a game may possess many equilibria and so the problem arises which one of these should be chosen as the solution. It was first pointed out explicitly in SELTEN [1965J that I not all Nash equilibria of an extensive form game are qualified to be selected as the solution, since an equilibrium may prescribe irrational behavior at unreached parts of the game tree. Moreover, also for normal form games not all Nash equilibria are eligible, since an equilibrium need not be robust with respect to slight perturba tions in the data of the game. These observations lead to the conclusion that the Nash equilibrium concept has to be refined in order to obtain sensible solutions for every game. In the monograph, various refinements of the Nash equilibrium concept are studied. Some of these have been proposed in the literature, but others are presented here for the first time. The objective is to study the relations between these refine ments;to derive characterizations and to discuss the underlying assumptions. The greater part of the monograph (the chapters 2-5) is devoted to the study of normal form games. Extensive form games are considered in chapter 6.

Strategic Justice

Peter Vanderschraaf
Strategic Justice Book PDF

Author : Peter Vanderschraaf
Publisher : Oxford University Press
Page : 288 pages
File Size : 54,8 Mb
Release : 2018-11-21
Category : Philosophy
ISBN : 9780190660468

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Strategic Justice by Peter Vanderschraaf Pdf

In Strategic Justice, Peter Vanderschraaf argues that justice can be properly understood as a body of special social conventions. The idea that justice is at bottom conventional has ancient roots, but has never been central in philosophy because convention itself has historically been so poorly understood. Vanderschraaf gives a new defense of this idea that integrates insights and arguments of past masters of moral and political philosophy together with recent analytical and empirical concepts and results from the social sciences. One of the substantial contributions of this work is a new account of convention that is sufficiently general for summarizing problems of justice, the social interactions where the interests of the agents involved diverge. Conventions are defined as equilibrium solutions to the games that summarize social interactions having a variety of possible stable resolutions and a corresponding plurality of equilibria. The basic idea that justice consists of a system of rules for mutual advantage is explored in depth using this game-theoretic analysis of convention. Justice is analyzed as a system of conventions that are stable with respect to renegotiation in the face of societal changes such as resource depletion, technological innovation and population decline or growth. This new account of justice-as-convention explains in a cogent and natural way what justice is and why individuals have good reason to obey its requirements. Contrary to what many have thought, this new account shows how the justice-as-convention view can give a good account of why justice requires that the most vulnerable members of society receive protections and benefits from the cooperative surplus created by general compliance with justice.

Decision and Game Theory for Security

Jie Fu,Tomas Kroupa,Yezekael Hayel
Decision and Game Theory for Security Book PDF

Author : Jie Fu,Tomas Kroupa,Yezekael Hayel
Publisher : Springer Nature
Page : 409 pages
File Size : 49,8 Mb
Release : 2024-01-29
Category : Computers
ISBN : 9783031506703

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Decision and Game Theory for Security by Jie Fu,Tomas Kroupa,Yezekael Hayel Pdf

This book constitutes the refereed proceedings of the 14th International Conference on Decision and Game Theory for Security, GameSec 2023, held in Avignon, France, during October 18–20, 2023. The 19 full papers and 4 short papers included in this book were carefully reviewed and selected from 33 submissions. They were organized in topical sections as follows: Mechanism design and imperfect information, Security Games, Learning in security games, Cyber deception, Economics of security, Information and privacy and Short articles.

Game Equilibrium Models IV

Reinhard Selten
Game Equilibrium Models IV Book PDF

Author : Reinhard Selten
Publisher : Springer Science & Business Media
Page : 372 pages
File Size : 48,6 Mb
Release : 2013-04-17
Category : Political Science
ISBN : 9783662073698

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Game Equilibrium Models IV by Reinhard Selten Pdf

The four volumes of Game Equilibrium Models present applications of non-cooperative game theory. Problems of strategic interaction arising in biology, economics, political science and the social sciences in general are treated in 42 papers on a wide variety of subjects. Internationally known authors with backgrounds in various disciplines have contributed original research. The reader finds innovative modelling combined with advanced methods of analysis. The four volumes are the outcome of a research year at the Center for Interdisciplinary Studies of the University of Bielefeld. The close interaction of an international interdisciplinary group of researchers has produced an unusual collection of remarkable results of great interest for everybody who wants to be informed on the scope, potential, and future direction of work in applied game theory. Volume IV Social and Political Interaction contains game equilibrium models focussing on social and political interaction within communities or states or between states, i.e. national and international social and political interaction. Specific aspects of those interactions are modelled as non-cooperative games and their equilibria are analysed.

Evolutionary Games and Equilibrium Selection

Larry Samuelson
Evolutionary Games and Equilibrium Selection Book PDF

Author : Larry Samuelson
Publisher : MIT Press
Page : 332 pages
File Size : 54,7 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262692198

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Evolutionary Games and Equilibrium Selection by Larry Samuelson Pdf

The author examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge. Larry Samuelson has been one of the main contributors to the evolutionary game theory literature. In Evolutionary Games and Equilibrium Selection, he examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. After providing an overview of the basic issues of game theory and a presentation of the basic models, the book addresses evolutionary stability, the dynamics of sample paths, the ultimatum game, drift, noise, backward and forward induction, and strict Nash equilibria.

Economy and Disability

Akihiko Matsui
Economy and Disability Book PDF

Author : Akihiko Matsui
Publisher : Springer Nature
Page : 236 pages
File Size : 43,7 Mb
Release : 2019-09-13
Category : Mathematics
ISBN : 9789811376238

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Economy and Disability by Akihiko Matsui Pdf

Society has developed so that it accommodates the needs of intertwined people, but a question arises as to which people have been accommodated. Has everyone been taken care of in an equal manner? If not, who has fallen into the gap between the institutions that are supposed to accommodate them? This book is a study of these issues of economy and disability using game theory, which has provided a means of analyzing various social phenomena. Part I provides actual cases related to economy and disability, with the stories based on interviews by the author. Part II is geared toward a game theoretic analysis. This book explains disability-related issues by game theory and innovates that theory by deeply contemplating the issues. It is not common that first-rate theorists manage to make their research relevant and applicable to the most pressing problems our society faces these days. This is the remarkable achievement of this book. Akihiko Matsui, an internationally recognized leader in economic theory, succeeds in bringing profound game theoretical insights to the questions of disability, the social norms relating to it, and the ethical and economic problems they raise. The book is a tour de force, brilliantly combining economic and sociology, mathematics and philosophy, to provide us a fresh look at the way we run modern societies. Itzahk Gilboa, Professor, Eitan Berglas School of Economics, Tel-Aviv University and Professor of Economics and Decision Sciences, HEC, Paris The present world faces a broad range of societal problems such as discrimination against minorities and conflicts between groups. The market mechanism may solve some of these dilemmas, but many others remain. This book targets various societal problems and provides game theoretical approaches to them, stressing the importance of social institutions including the market system and individual interactive attitudes to society. Aki Matsui’s splendid Economy and Disability is indispensable for students and scholars interested in social science, particularly in economic theory, and gives a better understanding of these phenomena and their potential cures. Mamoru Kaneko, Professor, Faculty of Political Science and Economics, Waseda University In this book, Aki Matsui is revealed to be a fully-fledged humanist in the guise of a game theoretician. He beautifully presents game-theoretical ideas while at the same time suggesting how society should relate to the disabled. This unique combination makes Economy and Disability—apart from anything else—a truly moving book. Ariel Rubinstein, Professor of Economics, Eitan Berglas School of Economics, Tel-Aviv University and Professor of Economics, New York University

On the Reliability of Economic Models

Daniel Little
On the Reliability of Economic Models Book PDF

Author : Daniel Little
Publisher : Springer Science & Business Media
Page : 288 pages
File Size : 49,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401106436

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On the Reliability of Economic Models by Daniel Little Pdf

This volume represents a contribution to the philosophy of economics with a distinctive point of view -- the contributors have selected particular areas of economics and have probed these areas for the philosophical and methodological issues that they raise. The primary essays are written by philosophers concentrating on philosophical issues that arise at the level of the everyday theoretical practice of working economists. Commentary essays are provided by working economists responding to the philosophical arguments from the standpoint of their own disciplines. The volume thus represents something of an `experiment' in the philosophy of science, striving as it does to explore methodological issues across two research communities. The purpose of the volume is very specific: to stimulate a discussion of the epistemology and methodology of economics that works at the level of detail of existing `best practice' in economics today. The contributors have designed their contributions to stimulate productive conversation between philosophers and economists on topics in the methodology of economics.

Game Theory

Drew Fudenberg,Jean Tirole
Game Theory Book PDF

Author : Drew Fudenberg,Jean Tirole
Publisher : MIT Press
Page : 616 pages
File Size : 53,5 Mb
Release : 1991-08-29
Category : Business & Economics
ISBN : 0262061414

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Game Theory by Drew Fudenberg,Jean Tirole Pdf

This advanced text introduces the principles of noncooperative game theory in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. This advanced text introduces the principles of noncooperative game theory—including strategic form games, Nash equilibria, subgame perfection, repeated games, and games of incomplete information—in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. The analytic material is accompanied by many applications, examples, and exercises. The theory of noncooperative games studies the behavior of agents in any situation where each agent's optimal choice may depend on a forecast of the opponents' choices. "Noncooperative" refers to choices that are based on the participant's perceived selfinterest. Although game theory has been applied to many fields, Fudenberg and Tirole focus on the kinds of game theory that have been most useful in the study of economic problems. They also include some applications to political science. The fourteen chapters are grouped in parts that cover static games of complete information, dynamic games of complete information, static games of incomplete information, dynamic games of incomplete information, and advanced topics.

Foundations in Microeconomic Theory

Matthew O. Jackson,Andrew McLennan
Foundations in Microeconomic Theory Book PDF

Author : Matthew O. Jackson,Andrew McLennan
Publisher : Springer Science & Business Media
Page : 541 pages
File Size : 50,7 Mb
Release : 2008-11-30
Category : Business & Economics
ISBN : 9783540740575

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Foundations in Microeconomic Theory by Matthew O. Jackson,Andrew McLennan Pdf

This volume collects papers from Hugo Sonnenschein's students. It aims to demonstrate his tremendous impact as an advisor. The papers span decades and present some of the most important articles in microeconomic theory. Each paper is accompanied with a preface by the student providing background on the paper and indicating Hugo's influence on its genesis. The papers all lie in microeconomic theory, and moreover all make fundamental contributions to the foundations of the theory.

Game Theory

John Eatwell,Murray Milgate,Peter Newman
Game Theory Book PDF

Author : John Eatwell,Murray Milgate,Peter Newman
Publisher : Springer
Page : 275 pages
File Size : 55,8 Mb
Release : 1989-09-01
Category : Business & Economics
ISBN : 9781349201815

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Game Theory by John Eatwell,Murray Milgate,Peter Newman Pdf

This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. It concentrates on the topic of game theory.

Decision Processes in Economics

Gianni Ricci
Decision Processes in Economics Book PDF

Author : Gianni Ricci
Publisher : Springer Science & Business Media
Page : 217 pages
File Size : 55,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642456862

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Decision Processes in Economics by Gianni Ricci Pdf

This book contains a selection of the papers presented at the symposium on "Decision processes in Economics" which was held in Modena (Italy) on 9-10 October 1989. It coincided with the annual meeting of the italian group on Game Theory; the group is formed by economists, mathematicians, engineers and social scientists. One of the targets of the Meeting, and therefore of the book, is to create an opportunity for having together papers by scientists with an "optimal control" education and papers by theorists on refinement of equilibrium, on repeted games and other topics. These two modes of working on Games are quite different but we think that a unitary approch to Games can be given and this book is an attempt in this direction. Another important and updated issue which is emphisized in the book is the discussion of computation and efficiency of numerical methods in Games. Stochastic differential games are treated in the papers by Basar, Haurie -and Deissemberg. Basar considers a stochastic model of a conflict situation between the monetary policy maker (go vernment) and the responding agent (private sector). Because of asymmetry in the (stochastic) information available the Nash and the Stackelberg games become non standard stochastic diffe rential games. After the discussion of the conditions leading to a solution he provides a numerical example for the proposed game. Haurie considers a game where the observed state changes according to a stochastic jump process.

Game Theory

Hans Peters
Game Theory Book PDF

Author : Hans Peters
Publisher : Springer
Page : 494 pages
File Size : 48,6 Mb
Release : 2015-06-04
Category : Mathematics
ISBN : 9783662469507

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Game Theory by Hans Peters Pdf

This textbook presents the basics of game theory both on an undergraduate level and on a more advanced mathematical level. It is the second, revised version of the successful 2008 edition. The book covers most topics of interest in game theory, including cooperative game theory. Part I presents introductions to all these topics on a basic yet formally precise level. It includes chapters on repeated games, social choice theory, and selected topics such as bargaining theory, exchange economies, and matching. Part II goes deeper into noncooperative theory and treats the theory of zerosum games, refinements of Nash equilibrium in strategic as well as extensive form games, and evolutionary games. Part III covers basic concepts in the theory of transferable utility games, such as core and balancedness, Shapley value and variations, and nucleolus. Some mathematical tools on duality and convexity are collected in Part IV. Every chapter in the book contains a problem section. Hints, answers and solutions are included.