Refinements Of The Nash Equilibrium Concept
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Refinements Of The Nash Equilibrium Concept
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Author : E. van Damme
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Refinements Of The Nash Equilibrium Concept written by E. van Damme 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.
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.
Refinements Of The Nash Equilibrium Concept
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Author : Jürgen Eichberger
language : en
Publisher:
Release Date : 1991
Refinements Of The Nash Equilibrium Concept written by Jürgen Eichberger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Equilibrium (Economics) categories.
Stability And Perfection Of Nash Equilibria
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Author : Eric van Damme
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Stability And Perfection Of Nash Equilibria written by Eric van Damme 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 Mathematics categories.
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.
Game Theory
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Author : John Eatwell
language : en
Publisher: Springer
Release Date : 1989-09-01
Game Theory written by John Eatwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-09-01 with Business & Economics categories.
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.
Stability And Perfection Of Nash Equilibria
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Author : Eric van Damme
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Stability And Perfection Of Nash Equilibria written by Eric van Damme 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.
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.
Epistemic Game Theory
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Author : Andrés Perea
language : en
Publisher: Cambridge University Press
Release Date : 2012-06-07
Epistemic Game Theory written by Andrés Perea 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 2012-06-07 with Business & Economics categories.
The first textbook to explain the principles of epistemic game theory.
Game Theory And Applications
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Author : Tatsuro Ichiishi
language : en
Publisher: Academic Press
Release Date : 2014-06-28
Game Theory And Applications written by Tatsuro Ichiishi and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Language Arts & Disciplines categories.
Game Theory and Applications outlines game theory and proves its validity by examining it alongside the neoclassical paradigm. This book contends that the neoclassical theory is the exceptional case, and that game theory may indeed be the rule. The papers and abstracts collected here explore its recent development and suggest new research directions. Explains many of the recent central developments in game theory Highlights new research directions in economic theory which surpass the neoclassical paradigm Includes game-theoretical analyses in economics, political science, and biology Written by leading game theorists, economists, political scientists, and biologists
Game Theory
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Author : Michael Maschler
language : en
Publisher: Cambridge University Press
Release Date : 2020-06-25
Game Theory written by Michael Maschler 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 2020-06-25 with Business & Economics categories.
This new edition is unparalleled in breadth of coverage, thoroughness of technical explanations and number of worked examples.
Dynamic Noncooperative Game Theory
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Author : Tamer Basar
language : en
Publisher: SIAM
Release Date : 1999-01-01
Dynamic Noncooperative Game Theory written by Tamer Basar and has been published by SIAM this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Mathematics categories.
Recent interest in biological games and mathematical finance make this classic 1982 text a necessity once again. Unlike other books in the field, this text provides an overview of the analysis of dynamic/differential zero-sum and nonzero-sum games and simultaneously stresses the role of different information patterns. The first edition was fully revised in 1995, adding new topics such as randomized strategies, finite games with integrated decisions, and refinements of Nash equilibrium. Readers can now look forward to even more recent results in this unabridged, revised SIAM Classics edition. Topics covered include static and dynamic noncooperative game theory, with an emphasis on the interplay between dynamic information patterns and structural properties of several different types of equilibria; Nash and Stackelberg solution concepts; multi-act games; Braess paradox; differential games; the relationship between the existence of solutions of Riccati equations and the existence of Nash equilibrium solutions; and infinite-horizon differential games.
The Oxford Handbook Of Philosophy Of Science
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Author : Paul Humphreys
language : en
Publisher: Oxford University Press
Release Date : 2016-08-04
The Oxford Handbook Of Philosophy Of Science written by Paul Humphreys and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-04 with Philosophy categories.
This handbook provides both an overview of state-of-the-art scholarship in philosophy of science, as well as a guide to new directions in the discipline. Section I contains broad overviews of the main lines of research and the state of established knowledge in six principal areas of the discipline, including computational, physical, biological, psychological and social sciences, as well as general philosophy of science. Section II covers what are considered to be the traditional topics in the philosophy of science, such as causation, probability, models, ethics and values, and explanation. Section III identifies new areas of investigation that show promise of becoming important areas of research, including the philosophy of astronomy and astrophysics, data, complexity theory, neuroscience, simulations, post-Kuhnian philosophy, post-empiricist epistemology, and emergence. Most chapters are accessible to scientifically educated non-philosophers as well as to professional philosophers, and the contributors - all leading researchers in their field -- bring diverse perspectives from the North American, European, and Australasian research communities. This volume is an essential resource for scholars and students.