30 Essential Game Theory Concepts Explained In 7 Minutes Each
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30 Essential Game Theory Concepts Explained in 7 Minutes Each
30 Essential Game Theory Concepts Explained in 7 Minutes Each Unlock the intriguing world of game theory with 30 Essential Game Theory Concepts Explained in 7 Minutes Each. This approachable guide demystifies complex concepts, making them accessible to everyone—from students to professionals. Each chapter provides a succinct yet thorough explanation designed to be consumed in just seven minutes, making it perfect for your busy schedule. Embark on a journey starting with the Introduction to Game Theory that lays the foundation for understanding the strategic interactions in various contexts. Discover the key elements such as Players, Strategies, and Payoffs, leading you to explore the importance of Dominant and Dominated Strategies and the well-known Nash Equilibrium. Delve into the nuanced distinctions between Cooperative vs. Non-Cooperative Games and grasp the concepts surrounding Zero-Sum Games and the iconic Prisoner's Dilemma. Navigate through the complexities of Mixed Strategy Equilibria and the dynamic nature of Extensive Form Games. You’ll learn about Backward Induction and the significance of Subgame Perfect Equilibrium in strategic decision-making. From Perfect and Imperfect Information to Bayesian Games, this book covers crucial modern developments like Mechanism Design and the fascinating Folk Theorem. Explore how game theory shapes biology through Evolutionary Game Theory and the principles behind Signaling Games, Auction Theory, and Bargaining Theory. Moreover, understand societal challenges with concepts such as Public Goods and Free Riding, as well as the role of Coalition Formation, and the significance of economic models like the Stackelberg Model and Cournot Model for industries and market strategies. The book also examines the applications of game theory in real-world scenarios, including its impact on Politics and Economic Behavior, while reflecting on its Limitations and exploring Future Directions in Game Theory. Whether you are seeking to enhance your understanding of strategic interactions or simply wish to pique your interest in an essential field of study, this book serves as a delightful and informative companion. Each concept is crafted to deliver maximum knowledge with minimum time investment—all in about the time it takes to sip your morning coffee. Get ready to think strategically and see the world through the lens of game theory!
Theory of Games and Economic Behavior
Author: John von Neumann
language: en
Publisher: Princeton University Press
Release Date: 2007-03-19
This is the classic work upon which modern-day game theory is based. What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences. This sixtieth anniversary edition includes not only the original text but also an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews and articles on the book that appeared at the time of its original publication in the New York Times, tthe American Economic Review, and a variety of other publications. Together, these writings provide readers a matchless opportunity to more fully appreciate a work whose influence will yet resound for generations to come.
Game Theory
Author: Steven Tadelis
language: en
Publisher: Princeton University Press
Release Date: 2013-01-10
The definitive introduction to game theory This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss strategic and extensive form games with complete information, Bayesian games, and extensive form games with imperfect information. He covers a host of topics, including multistage and repeated games, bargaining theory, auctions, rent-seeking games, mechanism design, signaling games, reputation building, and information transmission games. Unlike other books on game theory, this one begins with the idea of rationality and explores its implications for multiperson decision problems through concepts like dominated strategies and rationalizability. Only then does it present the subject of Nash equilibrium and its derivatives. Game Theory is the ideal textbook for advanced undergraduate and beginning graduate students. Throughout, concepts and methods are explained using real-world examples backed by precise analytic material. The book features many important applications to economics and political science, as well as numerous exercises that focus on how to formalize informal situations and then analyze them. Introduces the core ideas and applications of game theory Covers static and dynamic games, with complete and incomplete information Features a variety of examples, applications, and exercises Topics include repeated games, bargaining, auctions, signaling, reputation, and information transmission Ideal for advanced undergraduate and beginning graduate students Complete solutions available to teachers and selected solutions available to students