Negotiations And Game Theory Understanding Situations In Which Decision Makers Interact
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Negotiations And Game Theory Understanding Situations In Which Decision Makers Interact
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Author : Elena Ristova
language : en
Publisher: GRIN Verlag
Release Date : 2020-07-09
Negotiations And Game Theory Understanding Situations In Which Decision Makers Interact written by Elena Ristova and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-09 with Business & Economics categories.
Seminar paper from the year 2014 in the subject Economics - International Economic Relations, grade: 1,7, Pforzheim University, language: English, abstract: This paper is about negotiations and the game theory. Negotiation has been since ever omnipresent. It can confront us in our daily life, for example the question who is doing the dishes today or in much more complex is-sues, such as in economics or politics. "Simply defined, negotiation is the process of attempting to get what one wants, through agreement with one or more other par-ties." There are different tools with which negotiations can be modeled. One of them is game theory. "GAME THEORY aims to help us understand situations in which decision-makers interact. A game in the everyday sense - a competitive activity in which players contend with each other according to a set of rules." According to the definition, game theory is an appropriate tool to apply for negotiations and get the best outcome of it. It can make it easier for us to analyze our own needs, the least acceptable agreement, and desires, the most desired outcome, but also the ones of our opponent. Consequently, game theory allows us to estimate the strategy the other party is going to use. Moreover, game theory reaches back far in history. There had been recognized some game theoretic situations even in the bible. But the major development started in the 1920s. First, game theory was a mathematic discipline. The two mathematicians, John von Neumann and Emile Borel worked on game theory and subsequently the book Theory of games and economic behavior was published by von Neumann and Oskar Morgenstern in 1944. Later, in the 1950s, game theory was not only considered to be a mathematician discipline, but it has been also applied in "economic theory and political science, and psychologists began studying how human subjects behave in experimental games."
Experimental Studies Of Interactive Decisions
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Author : Amnon Rapoport
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Experimental Studies Of Interactive Decisions written by Amnon Rapoport and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
This book is about the interplay of theory and experimentation on group decision making in economics. The theories that the book subjects to experimental testing mostly come from the theory of games. The decisions investigated in the book mostly concern economic interaction like strict competition. two-person bargaining. and coalition formation. The underlying philosophy of the articles collected in this book is consistent with the opinion of a growing number of economists and psychologists that economic issues cannot be understood fully just by thinking about them. Rather. the interplay between theory and experimentation is critical for the development of economics as an observational science (Smith. 1989). Reports of laboratory experiments in decision making and economics date back more than thirty years (e.g .• Allais. 1953; Davidson. Suppes. and Siegel. 1957; Flood. 1958; Friedman. 1%3; Kalisch. Milnor. Nash. and Nering. 1954; Lieberman. 1%0; Mosteller and Nogee. 1951; Rapoport. Chammah. Dwyer. and Gyr. I %2; Siegel and Fouraker. I %0; Stone. 1958). However. only in the last ten or fifteen years has laboratory experimentation in economics started its steady transformation from an occasional curiosity into a regular means for investigating various economic phenomena and examining the role of economic institutions. Groups of researchers in the USA and abroad have used experimental methods with increasing sophistication to attack economic problems that arise in individual decision making under risk. two-person bargaining.
Decision Making Using Game Theory
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Author : Anthony Kelly
language : en
Publisher: Cambridge University Press
Release Date : 2003-03-27
Decision Making Using Game Theory written by Anthony Kelly and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-27 with Business & Economics categories.
Game theory is a key element in most decision-making processes involving two or more people or organisations. This book explains how game theory can predict the outcome of complex decision-making processes, and how it can help you to improve your own negotiation and decision-making skills. It is grounded in well-established theory, yet the wide-ranging international examples used to illustrate its application offer a fresh approach to an essential weapon in the armoury of the informed manager. The book is accessibly written, explaining in simple terms the underlying mathematics behind games of skill, before moving on to more sophisticated topics such as zero-sum games, mixed-motive games, and multi-person games, coalitions and power. Clear examples and helpful diagrams are used throughout, and the mathematics is kept to a minimum. It is written for managers, students and decision makers in any field.
Game Theory
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Author : James N. Webb
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-03-06
Game Theory written by James N. Webb and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-06 with Mathematics categories.
The outstanding feature of this book is that it provides a unified account of three types of decision problem. It covers the basic ideas of decision theory, classical game theory, and evolutionary game theory in one volume. No background knowledge of economics or biology is required as examples have been carefully selected for their accessibility. Detailed solutions to the numerous exercises are provided at the back of the book, making it ideal for self-study. This introduction to game theory is intended as a first course for undergraduate students of mathematics, but it will also interest advanced students or researchers in biology and economics.
Behavioral Game Theory
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Author : Colin F. Camerer
language : en
Publisher: Princeton University Press
Release Date : 2011-09-05
Behavioral Game Theory written by Colin F. Camerer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-05 with Business & Economics categories.
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
Rational Behavior And Bargaining Equilibrium In Games And Social Situations
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Author : John C. Harsanyi
language : en
Publisher: CUP Archive
Release Date : 1986
Rational Behavior And Bargaining Equilibrium In Games And Social Situations written by John C. Harsanyi and has been published by CUP Archive this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Decision-making categories.
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.
Game Theory As A Theory Of Conflict Resolution
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Author : Anatol Rapoport
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Game Theory As A Theory Of Conflict Resolution written by Anatol Rapoport and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
Game theory could be formally defined as a theory of rational decision in conflict situations. Models of such situations, as they are conceived in game theory, involve (1) a set of decision makers, called players; (2) a set of strategies available to each player; (3) a set of outcomes, each of which is a result of particular choices of strategies made by the players on a given play of the game; and (4) a set of payoffs accorded to each player in each of the possible outcomes. It is assumed that each player is 'individually rational', in the sense that his preference ordering of the outcomes is determined by the order of magnitudes of his (and only his) associated payoffs. Further, a player is rational in the sense that he assumes that every other player is rational in the above sense. The rational player utilizes knowledge of the other players' payoffs in guiding his choice of strategy, because it gives him information about how the other players' choices are guided. Since, in general, the orders of magnitude of the payoffs that accrue to the several players in the several outcomes do not coincide, a game of strategy is a model of a situation involving conflicts of interests.
Game Equilibrium Models Iii
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Author : Reinhard Selten
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Game Equilibrium Models Iii written by Reinhard Selten and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Business & Economics categories.
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 III Strategic Bargaining contains ten papers on game equilibrium models of bargaining. All these contributions look at bargaining situations as non-cooperative games. General models of two-person and n-person bargaining are explored.
Negotiation Analysis
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Author : Howard Raiffa
language : en
Publisher: Harvard University Press
Release Date : 2007-03-31
Negotiation Analysis written by Howard Raiffa and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-31 with Business & Economics categories.
This masterly book substantially extends Howard Raiffa's earlier classic, The Art and Science of Negotiation. It does so by incorporating three additional supporting strands of inquiry: individual decision analysis, judgmental decision making, and game theory. Each strand is introduced and used in analyzing negotiations. The book starts by considering how analytically minded parties can generate joint gains and distribute them equitably by negotiating with full, open, truthful exchanges. The book then examines models that disengage step by step from that ideal. It also shows how a neutral outsider (intervenor) can help all negotiators by providing joint, neutral analysis of their problem. Although analytical in its approach--building from simple hypothetical examples--the book can be understood by those with only a high school background in mathematics. It therefore will have a broad relevance for both the theory and practice of negotiation analysis as it is applied to disputes that range from those between family members, business partners, and business competitors to those involving labor and management, environmentalists and developers, and nations.
Handbook Of Group Decision And Negotiation
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Author : D. Marc Kilgour
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-08-02
Handbook Of Group Decision And Negotiation written by D. Marc Kilgour and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08-02 with Mathematics categories.
Publication of the Handbook of Group Decision and Negotiation marks a milestone in the evolution of the group decision and negotiation (GDN) eld. On this occasion, editors Colin Eden and Marc Kilgour asked me to write a brief history of the eld to provide background and context for the volume. They said that I am in a good position to do so: Actively involved in creating the GDN Section and serving as its chair; founding and leading the GDN journal, Group Decision and Negotiation as editor-in-chief, and the book series, “Advances in Group Decision and Negotiation” as editor; and serving as general chair of the GDN annual meetings. I accepted their invitation to write a brief history. In 1989 what is now the Institute for Operations Research and the Management Sciences (INFORMS) established its Section on Group Decision and Negotiation. The journal Group Decision and Negotiation was founded in 1992, published by Springer in cooperation with INFORMS and the GDN Section. In 2003, as an ext- sion of the journal, the Springer book series, “Advances in Group Decision and Negotiation” was inaugurated.