| Description |
1 online resource (268 pages) |
| Contents |
Intro -- Preface: Introduction and Warnings -- Contents -- 1 Playing for Susan -- 1.1 Thinking Strategically -- 1.2 Why not Learn Game Theory? -- 1.3 The Working of the Invisible Hand -- 1.4 The Real World and Its Models -- 1.5 Winner-Takes-It-All and the Chicken Game -- 1.6 The Essence of Game Theory, the Brain, and Empathy -- 1.7 Strategic Thinking that Failed-Perhaps -- References -- 2 No Mathematics -- 2.1 Historical Note I: The Pioneers -- 2.2 The Concept of Sets -- 2.3 Prices and Quantities -- 2.4 From Set to Mapping and Function -- 2.5 Utilities, Payoff Functions, and Strategy Vectors |
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2.6 Monkeys Write Shakespeare, but Where Is Hamlet? -- References -- 3 The Prisoners' Dilemma, but Who Are the Players? -- 3.1 From Game Form to Payoff Matrix -- 3.2 Equilibrium in Dominant Strategies -- 3.3 Catch-22 and Other Social Traps -- 3.4 Ways Out of the Dilemma -- 3.5 Who Are the Players? -- 3.6 Then Strike -- 3.7 Tosca's Dominant Strategy -- References -- 4 The Nash Equilibrium -- 4.1 On the Definition of the Nash Equilibrium -- 4.2 Historical Note II: Nash and the Nash Equilibrium -- 4.3 Nash Equilibria and Chicken Game -- 4.4 Inefficient Equilibria in the QWERTY-DSK Game |
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4.5 Who Are the Players in the QWERTY-DSK Game? -- 4.6 Nash Equilibria in Kamasutra Games -- References -- 5 Sequence of Moves and the Extensive Form -- 5.1 The Shrinking of the Event Matrix -- 5.2 Sequential Structure and Chicken Game -- 5.3 Extensive Form and Game Tree -- 5.4 Information: Perfect, Imperfect, Complete, and Incomplete -- 5.5 Perfect Recall Missing -- 5.6 The Battle of the Sexes -- 5.7 What Is a Strategy? -- 5.8 Sharing a Cake -- 5.9 Theory of Moves -- References -- 6 Chaos, Too Many and Too Few -- 6.1 The El Farol Problem or "Too Many People at the Same Spot." |
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6.2 Self-referential Systems -- 6.3 Solutions to the El Farol Problem -- 6.4 Market Congestion Game -- 6.5 Viruses for Macintosh -- 6.6 The Volunteer's Dilemma -- References -- 7 Which Strategy to Choose? -- 7.1 Nash Equilibrium and Optimal Strategy -- 7.2 Equilibrium Choice and Trembling Hand -- 7.3 Trembling Hand Perfection and Market Congestion -- 7.4 Rationalizable Strategies -- References -- 8 Step-by-Step: The Subgame-Perfect Equilibrium -- 8.1 Market Entry Game with Monopoly -- 8.2 Backward Induction and Optimal Strategies -- 8.3 The Ultimatum Game |
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8.4 Social Trust and the Stag Hunt Game -- 8.5 How Reciprocity Works -- References -- 9 Forever and a Day -- 9.1 The Competition Trap Closes -- 9.2 Iterated Prisoners' Dilemma and the "Ravages of Time" -- 9.3 The Competition Trap Breaking Down -- 9.4 Robert Axelrod's "Tournament of Strategies" -- 9.5 "The True Egoist Cooperates."-Yes, but Why? -- 9.6 The Folk Theorem and "What We Have Always Known" -- References -- 10 Mixed Strategies and Expected Utility -- 10.1 From Lottery to Expected Utility -- 10.2 The Allais Paradox and Kahneman-Tversky -- 10.3 Optimal Inspection in Mixed Strategies |
| Summary |
This book introduces readers to basic game theory as a tool to deal with strategic decision problems, helping them to understand the complexity of such problems - to extract a solution, if possible - and to manage the complexity by revising the game if appropriate. The authors discuss basic decision situations modeled as Prisoners Dilemma, Chicken Game, and Stag Hunt Game, as well as concepts like the Nash equilibrium, Trembling Hand Perfectness, Rationalizable Strategies and the Theory of Moves to introduce game theoretic thinking. Further, the book presents pioneers of strategic thinking, e.g., Sun Tzu, Machiavelli, Adam Smith, and Goethe, and includes cases of conflict and cooperation to illustrate practical applications. Readers learn to apply game theory in business and in daily life - to manage their decision problems and to better understand the decision problems of others |
| Notes |
10.4 Maximin Solution and the Inspection Game |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Print version record |
| Subject |
Game theory.
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Decision making.
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Game Theory
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Decision Making
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decision making.
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Business strategy.
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Game theory.
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Business & Economics -- Management.
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Mathematics -- Game Theory.
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Decision making
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Game theory
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| Form |
Electronic book
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| Author |
Klose-Ullmann, Barbara
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| ISBN |
9783030448233 |
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3030448231 |
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