Stability And Perfection Of Nash Equilibria
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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.
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.
Existence And Stability Of Nash Equilibrium
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Author : Guilherme Carmona
language : en
Publisher: World Scientific
Release Date : 2013
Existence And Stability Of Nash Equilibrium written by Guilherme Carmona and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
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
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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.
Perfect Nash Equilibria In Finite Repeated Game And Uniqueness Of Nash Equilibrium In The Constituent Game
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Author : Michel Moreaux
language : en
Publisher:
Release Date : 1984
Perfect Nash Equilibria In Finite Repeated Game And Uniqueness Of Nash Equilibrium In The Constituent Game written by Michel Moreaux and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with categories.
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.
Strategic Justice
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Author : Peter Vanderschraaf
language : en
Publisher: Oxford University Press
Release Date : 2018-11-21
Strategic Justice written by Peter Vanderschraaf 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 2018-11-21 with Philosophy categories.
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
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Author : Jie Fu
language : en
Publisher: Springer Nature
Release Date : 2024-01-29
Decision And Game Theory For Security written by Jie Fu and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-29 with Computers categories.
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
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Author : Reinhard Selten
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-04-17
Game Equilibrium Models Iv 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 2013-04-17 with Political Science 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 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
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Author : Larry Samuelson
language : en
Publisher: MIT Press
Release Date : 1997
Evolutionary Games And Equilibrium Selection written by Larry Samuelson and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
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.