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Books > Science & Mathematics > Mathematics > Optimization > Game theory

Advances in Mathematical Economics Volume 16 (Paperback, 2012 ed.): Shigeo Kusuoka, Toru Maruyama Advances in Mathematical Economics Volume 16 (Paperback, 2012 ed.)
Shigeo Kusuoka, Toru Maruyama
R1,367 Discovery Miles 13 670 Ships in 18 - 22 working days

A lot of economic problems can be formulated as constrained optimizations and equilibration of their solutions. Various mathematical theories have been supplying economists with indispensable machineries for these problems arising in economic theory. Conversely, mathematicians have been stimulated by various mathematical difficulties raised by economic theories. The series is designed to bring together those mathematicians who are seriously interested in getting new challenging stimuli from economic theories with those economists who are seeking effective mathematical tools for their research.

Insurance Economics (Paperback, 2nd ed. 2021): Peter Zweifel, Roland Eisen, David L. Eckles Insurance Economics (Paperback, 2nd ed. 2021)
Peter Zweifel, Roland Eisen, David L. Eckles
R1,976 Discovery Miles 19 760 Ships in 10 - 15 working days

Insurance Economics brings together the economic analysis of decision making under risk, risk management and demand for insurance among individuals and corporations, objectives pursued and management tools used by insurance companies, the regulation of insurance, and the division of labor between private and social insurance. Appropriate both for advanced undergraduate and graduate students of economics, management, and finance, this text provides the background required to understand current research. Predictions derived from theoretical arguments are not merely stated, but also related to empirical evidence. Throughout the book, conclusions summarize key results, helping readers to check their knowledge and comprehension. Issues discussed include paradoxes in decision making under risk and attempts at their resolution, moral hazard and adverse selection including the possibility of a "death spiral", and future challenges to both private and social insurance such as globalization and the availability of genetic information. This second edition has been extensively revised. Most importantly, substantial content has been added to represent the evolution of risk-related research. A new chapter, Insurance Demand II: Nontraditional Approaches, provides a timely addition in view of recent developments in risk theory and insurance. Previous discussions of Enterprise Risk Management, long-term care insurance, adverse selection, and moral hazard have all been updated. In an effort to expand the global reach of the text, evidence and research from the U.S. and China have also been added.

Stochastic Differential Equations and Processes - SAAP, Tunisia, October 7-9, 2010 (Paperback, 2012): Mounir Zili, Darya V.... Stochastic Differential Equations and Processes - SAAP, Tunisia, October 7-9, 2010 (Paperback, 2012)
Mounir Zili, Darya V. Filatova
R2,653 Discovery Miles 26 530 Ships in 18 - 22 working days

Selected papers submitted by participants of the international Conference "Stochastic Analysis and Applied Probability 2010" ( www.saap2010.org ) make up the basis of this volume.

The SAAP 2010 was held in Tunisia, from 7-9 October, 2010, and was organized by the "Applied Mathematics & Mathematical Physics" research unit of the preparatory institute to the military academies of Sousse (Tunisia), chaired by Mounir Zili.

The papers cover theoretical, numerical and applied aspects of stochastic processes and stochastic differential equations. The study of such topic is motivated in part by the need to model, understand, forecast and control the behavior of many natural phenomena that evolve in time in a random way. Such phenomena appear in the fields of finance, telecommunications, economics, biology, geology, demography, physics, chemistry, signal processing and modern control theory, to mention just a few.

As this book emphasizes the importance of numerical and theoretical studies of the stochastic differential equations and stochastic processes, it will be useful for a wide spectrum of researchers in applied probability, stochastic numerical and theoretical analysis and statistics, as well as for graduate students.

To make it more complete and accessible for graduate students, practitioners and researchers, the editors Mounir Zili and Daria Filatova have included a survey dedicated to the basic concepts of numerical analysis of the stochastic differential equations, written by Henri Schurz.

The Essential John Nash (Paperback, New Ed): John Nash The Essential John Nash (Paperback, New Ed)
John Nash; Edited by Harold William Kuhn, Sylvia Nasar
R1,053 Discovery Miles 10 530 Ships in 18 - 22 working days

When John Nash won the Nobel prize in economics in 1994, many people were surprised to learn that he was alive and well. Since then, Sylvia Nasar's celebrated biography "A Beautiful Mind," the basis of a new major motion picture, has revealed the man. "The Essential John Nash" reveals his work--in his own words. This book presents, for the first time, the full range of Nash's diverse contributions not only to game theory, for which he received the Nobel, but to pure mathematics--from Riemannian geometry and partial differential equations--in which he commands even greater acclaim among academics. Included are nine of Nash's most influential papers, most of them written over the decade beginning in 1949.

From 1959 until his astonishing remission three decades later, the man behind the concepts "Nash equilibrium" and "Nash bargaining"--concepts that today pervade not only economics but nuclear strategy and contract talks in major league sports--had lived in the shadow of a condition diagnosed as paranoid schizophrenia. In the introduction to this book, Nasar recounts how Nash had, by the age of thirty, gone from being a wunderkind at Princeton and a rising mathematical star at MIT to the depths of mental illness.

In his preface, Harold Kuhn offers personal insights on his longtime friend and colleague; and in introductions to several of Nash's papers, he provides scholarly context. In an afterword, Nash describes his current work, and he discusses an error in one of his papers. A photo essay chronicles Nash's career from his student days in Princeton to the present. Also included are Nash's Nobel citation and autobiography.

"The Essential John Nash" makes it plain why one of Nash's colleagues termed his style of intellectual inquiry as "like lightning striking." All those inspired by Nash's dazzling ideas will welcome this unprecedented opportunity to trace these ideas back to the exceptional mind they came from.

Hamilton-Jacobi Equations: Approximations, Numerical Analysis and Applications - Cetraro, Italy 2011, Editors: Paola Loreti,... Hamilton-Jacobi Equations: Approximations, Numerical Analysis and Applications - Cetraro, Italy 2011, Editors: Paola Loreti, Nicoletta Anna Tchou (Paperback, 2013 ed.)
Yves Achdou, Guy Barles, Hitoshi Ishii, Grigory L. Litvinov; Adapted by Paola Loreti, …
R2,318 Discovery Miles 23 180 Ships in 18 - 22 working days

These Lecture Notes contain the material relative to the courses given at the CIME summer school held in Cetraro, Italy from August 29 to September 3, 2011. The topic was "Hamilton-Jacobi Equations: Approximations, Numerical Analysis and Applications". The courses dealt mostly with the following subjects: first order and second order Hamilton-Jacobi-Bellman equations, properties of viscosity solutions, asymptotic behaviors, mean field games, approximation and numerical methods, idempotent analysis. The content of the courses ranged from an introduction to viscosity solutions to quite advanced topics, at the cutting edge of research in the field. We believe that they opened perspectives on new and delicate issues. These lecture notes contain four contributions by Yves Achdou (Finite Difference Methods for Mean Field Games), Guy Barles (An Introduction to the Theory of Viscosity Solutions for First-order Hamilton-Jacobi Equations and Applications), Hitoshi Ishii (A Short Introduction to Viscosity Solutions and the Large Time Behavior of Solutions of Hamilton-Jacobi Equations) and Grigory Litvinov (Idempotent/Tropical Analysis, the Hamilton-Jacobi and Bellman Equations).

Method of Guiding Functions in Problems of Nonlinear Analysis (Paperback, 2013 ed.): Valeri Obukhovskii, Pietro Zecca, Nguyen... Method of Guiding Functions in Problems of Nonlinear Analysis (Paperback, 2013 ed.)
Valeri Obukhovskii, Pietro Zecca, Nguyen Van Loi, Sergei Kornev
R1,764 Discovery Miles 17 640 Ships in 18 - 22 working days

This book offers a self-contained introduction to the theory of guiding functions methods, which can be used to study the existence of periodic solutions and their bifurcations in ordinary differential equations, differential inclusions and in control theory. It starts with the basic concepts of nonlinear and multivalued analysis, describes the classical aspects of the method of guiding functions, and then presents recent findings only available in the research literature. It describes essential applications in control theory, the theory of bifurcations, and physics, making it a valuable resource not only for "pure" mathematicians, but also for students and researchers working in applied mathematics, the engineering sciences and physics.

Dynamics of Asymmetric Territorial Conflict - The Evolution of Patience (Paperback, 1st ed. 2013): U. Resnick Dynamics of Asymmetric Territorial Conflict - The Evolution of Patience (Paperback, 1st ed. 2013)
U. Resnick
R1,396 Discovery Miles 13 960 Ships in 18 - 22 working days

This book provides a comprehensive study of asymmetric territorial conflict combining game theory, statistical empirical analysis and historiographic analysis. Using the Israeli-Palestine conflict as a case study, it tests the model on a database of almost four hundred territorial conflicts.

Managing Market Complexity - The Approach of Artificial Economics (Paperback, 2013 ed.): Andrea Teglio, Simone Alfarano, Eva... Managing Market Complexity - The Approach of Artificial Economics (Paperback, 2013 ed.)
Andrea Teglio, Simone Alfarano, Eva Camacho-Cuena, Miguel Gines-Vilar
R1,401 Discovery Miles 14 010 Ships in 18 - 22 working days

The field of artificial economics (AE) embraces a broad range of methodologies relying on computer simulations in order to model and study the complexity of economic and social phenomena. The overarching principle of AE is the analysis of aggregate properties of artificial economies populated by adaptive agents that are equipped with behavioural rules and specific individual targets. These aggregate properties are neither foreseen nor intended by the artificial agents; conversely they are emerging characteristics of such artificially simulated systems. The book presents a peer-reviewed collection of papers addressing a variety of issues related to macroeconomics, industrial organization, networks, management and finance, as well as purely methodological issues.

The Handbook of Market Design (Hardcover): Nir Vulkan, Alvin E. Roth, Zvika Neeman The Handbook of Market Design (Hardcover)
Nir Vulkan, Alvin E. Roth, Zvika Neeman
R4,274 Discovery Miles 42 740 Ships in 10 - 15 working days

Economists often look at markets as given, and try to make predictions about who will do what and what will happen in these markets Market design, by contrast, does not take markets as given; instead, it combines insights from economic and game theory together with common sense and lessons learned from empirical work and experimental analysis to aid in the design and implementation of actual markets In recent years the field has grown dramatically, partially because of the successful wave of spectrum auctions in the US and in Europe, which have been designed by a number of prominent economists, and partially because of the increase use of the Internet as the platform over which markets are designed and run There is now a large number of applications and a growing theoretical literature. The Handbook of Market Design brings together the latest research from leading experts to provide a comprehensive description of applied market design over the last two decades In particular, it surveys matching markets: environments where there is a need to match large two-sided populations to one another, such as medical residents and hospitals, law clerks and judges, or patients and kidney donors It also examines a number of applications related to electronic markets, e-commerce, and the effect of the Internet on competition between exchanges

The Master Equation and the Convergence Problem in Mean Field Games - (AMS-201) (Paperback): Pierre Cardaliaguet, Francois... The Master Equation and the Convergence Problem in Mean Field Games - (AMS-201) (Paperback)
Pierre Cardaliaguet, Francois Delarue, Jean-Michel Lasry, Pierre-Louis Lions
R2,230 Discovery Miles 22 300 Ships in 18 - 22 working days

This book describes the latest advances in the theory of mean field games, which are optimal control problems with a continuum of players, each of them interacting with the whole statistical distribution of a population. While it originated in economics, this theory now has applications in areas as diverse as mathematical finance, crowd phenomena, epidemiology, and cybersecurity. Because mean field games concern the interactions of infinitely many players in an optimal control framework, one expects them to appear as the limit for Nash equilibria of differential games with finitely many players as the number of players tends to infinity. This book rigorously establishes this convergence, which has been an open problem until now. The limit of the system associated with differential games with finitely many players is described by the so-called master equation, a nonlocal transport equation in the space of measures. After defining a suitable notion of differentiability in the space of measures, the authors provide a complete self-contained analysis of the master equation. Their analysis includes the case of common noise problems in which all the players are affected by a common Brownian motion. They then go on to explain how to use the master equation to prove the mean field limit. This groundbreaking book presents two important new results in mean field games that contribute to a unified theoretical framework for this exciting and fast-developing area of mathematics.

Equilibrium, Markets and Dynamics - Essays in Honour of Claus Weddepohl (Paperback, Softcover reprint of the original 1st ed.... Equilibrium, Markets and Dynamics - Essays in Honour of Claus Weddepohl (Paperback, Softcover reprint of the original 1st ed. 2002)
Cars H. Hommes, Roald Ramer, Cees A. Withagen
R2,672 Discovery Miles 26 720 Ships in 18 - 22 working days

This book contains essays in honour of Claus Weddepohl who, after 22 years, is retiring as professor of mathematical economics at the Department of Quantitative Economics of the University of Amsterdam. Claus Weddepohl may be viewed as th first Dutch mathematical economist in the general equi librium tradition of Arrow, Debreu and Hahn. The essays in this book are centered around the themes Equilibrium, Markets and Dynamics, that have been at the heart of Weddepohl's work on mathematical economics for more than three decades. The essays have been classified according to these three themes. Admittedly such a classification always is somewhat arbitrary, and most essays would in fact fit into two or even all three themes. The essays have been written by international as well as Dutch friends and colleagues including Weddepohl's former Ph. D. students. The book starts with a review of Claus Weddepohl's work by Roald Ramer, who has been working with him in Amsterdam for all those years. The review describes how Weddepohl became fascinated by general equilibrium theory in the early stages of his career, how he has been working on the theory of markets throughout his career, and how he turned to applications of nonlinear dynamics to price adjustment processes in a later stage of his career. The first part of the book, Equilibrium, collects essays with general equilib rium theory as the main theme."

Stochastic Calculus with Infinitesimals (Paperback, 2013 ed.): Frederik S. Herzberg Stochastic Calculus with Infinitesimals (Paperback, 2013 ed.)
Frederik S. Herzberg
R1,595 Discovery Miles 15 950 Ships in 18 - 22 working days

Stochastic analysis is not only a thriving area of pure mathematics with intriguing connections to partial differential equations and differential geometry. It also has numerous applications in the natural and social sciences (for instance in financial mathematics or theoretical quantum mechanics) and therefore appears in physics and economics curricula as well. However, existing approaches to stochastic analysis either presuppose various concepts from measure theory and functional analysis or lack full mathematical rigour. This short book proposes to solve the dilemma: By adopting E. Nelson's "radically elementary" theory of continuous-time stochastic processes, it is based on a demonstrably consistent use of infinitesimals and thus permits a radically simplified, yet perfectly rigorous approach to stochastic calculus and its fascinating applications, some of which (notably the Black-Scholes theory of option pricing and the Feynman path integral) are also discussed in the book.

Beautiful Game Theory - How Soccer Can Help Economics (Paperback): Ignacio Palacios-Huerta Beautiful Game Theory - How Soccer Can Help Economics (Paperback)
Ignacio Palacios-Huerta
R691 Discovery Miles 6 910 Ships in 18 - 22 working days

A wealth of research in recent decades has seen the economic approach to human behavior extended over many areas previously considered to belong to sociology, political science, law, and other fields. Research has also shown that economics can provide insight into many aspects of sports, including soccer. Beautiful Game Theory is the first book that uses soccer to test economic theories and document novel human behavior. In this brilliant and entertaining book, Ignacio Palacios-Huerta illuminates economics through the world's most popular sport. He offers unique and often startling insights into game theory and microeconomics, covering topics such as mixed strategies, discrimination, incentives, and human preferences. He also looks at finance, experimental economics, behavioral economics, and neuroeconomics. Soccer provides rich data sets and environments that shed light on universal economic principles in interesting and useful ways. Essential reading for students, researchers, and sports enthusiasts, Beautiful Game Theory is the first book to show what soccer can do for economics.

Durable-Strategies Dynamic Games - Theory, Solution Techniques and Applications (Hardcover, 1st ed. 2022): David W.K. Yeung,... Durable-Strategies Dynamic Games - Theory, Solution Techniques and Applications (Hardcover, 1st ed. 2022)
David W.K. Yeung, Leon A. Petrosyan
R2,707 R2,486 Discovery Miles 24 860 Save R221 (8%) Ships in 10 - 15 working days

Durable strategies that have prolonged effects are prevalent in real-world situations. Revenue-generating investments, toxic waste disposal, long-lived goods, regulatory measures, coalition agreements, diffusion of knowledge, advertisement and investments to accumulate physical capital are concrete and common examples of durable strategies. This book provides an augmentation of dynamic game theory and advances a new game paradigm with durable strategies in decision-making schemes. It covers theories, solution techniques, and the applications of a general class of dynamic games with multiple durable strategies. Non-cooperative equilibria and cooperative solutions are derived, along with advanced topics including random termination, asynchronous game horizons, and stochastic analysis. The techniques presented here will enable readers to solve numerous practical dynamic interactive problems with durable strategies. This book not only expands the scope of applied dynamic game theory, but also provides a solid foundation for further theoretical and technical advancements. As such, it will appeal to scholars and students of quantitative economics, game theory, operations research, and computational mathematics. "Not too many new concepts have been introduced in dynamic games since their inception. The introduction of the concept of durable strategies changes this trend and yields important contributions to environmental and business applications." Dusan M Stipanovic, Professor, University of Illinois at Urbana-Champaign "Before this book, the field simply did not realize that most of our strategies are durable and entail profound effects in the future. Putting them into the mathematical framework of dynamic games is a great innovative effort." Vladimir Turetsky, Professor, Ort Braude College "Durable-strategies Dynamic Games is truly a world-leading addition to the field of dynamic games. It is a much needed publication to tackle increasingly crucial problems under the reality of durable strategies." Vladimir Mazalov, Director of Mathematical Research, Russian Academy of Sciences & President of the International Society of Dynamic Games

Operational Research - IO 2021-Analytics for a better world. XXI Congress of APDIO, Figueira da Foz, Portugal, November 7-8,... Operational Research - IO 2021-Analytics for a better world. XXI Congress of APDIO, Figueira da Foz, Portugal, November 7-8, 2021 (Hardcover, 1st ed. 2023)
Joao Paulo Almeida, Carla Soares Geraldes, Isabel Cristina Lopes, Samuel Moniz, Jose Fernando Oliveira, …
R4,826 R3,555 Discovery Miles 35 550 Save R1,271 (26%) Ships in 10 - 15 working days

This book provides the current status of research on the application of OR methods to solve emerging and relevant operations management problems. Each chapter is a selected contribution of the IO2021 - XXI Congress of APDIO, the Portuguese Association of Operational Research, held in Figueira da Foz from 7 to 8 November 2021. Under the theme of analytics for a better world, the book presents interesting results and applications of OR cutting-edge methods and techniques to various real-world problems. Of particular importance are works applying nonlinear, multi-objective optimization, hybrid heuristics, multicriteria decision analysis, data envelopment analysis, simulation, clustering techniques and decision support systems, in different areas such as supply chain management, production planning and scheduling, logistics, energy, telecommunications, finance and health. All chapters were carefully reviewed by the members of the scientific program committee.

Viability Theory - New Directions (Paperback, 2nd ed. 2011): Jean-Pierre Aubin, Alexandre M. Bayen, Patrick Saint-Pierre Viability Theory - New Directions (Paperback, 2nd ed. 2011)
Jean-Pierre Aubin, Alexandre M. Bayen, Patrick Saint-Pierre
R7,175 Discovery Miles 71 750 Ships in 18 - 22 working days

Viability theory designs and develops mathematical and algorithmic methods for investigating the adaptation to viability constraints of evolutions governed by complex systems under uncertainty that are found in many domains involving living beings, from biological evolution to economics, from environmental sciences to financial markets, from control theory and robotics to cognitive sciences. It involves interdisciplinary investigations spanning fields that have traditionally developed in isolation. The purpose of this book is to present an initiation to applications of viability theory, explaining and motivating the main concepts and illustrating them with numerous numerical examples taken from various fields.

Assets, Beliefs, and Equilibria in Economic Dynamics - Essays in Honor of Mordecai Kurz (Paperback, Softcover reprint of... Assets, Beliefs, and Equilibria in Economic Dynamics - Essays in Honor of Mordecai Kurz (Paperback, Softcover reprint of hardcover 1st ed. 2004)
Charalambos D. Aliprantis, Kenneth J. Arrow, Peter Hammond, Felix Kubler, Ho-Mou Wu, …
R5,266 Discovery Miles 52 660 Ships in 18 - 22 working days

A collection of papers dealing with a broad range of topics in mathematical economics, game theory and economic dynamics. The contributions present both theoretical and applied research. The volume is dedicated to Mordecai Kurz. The papers were presented in a special symposium co-hosted by the Stanford University Department of Economics and by the Stanford Institute of Economic Policy Research in August 2002.

Dynamic Nonlinear Econometric Models - Asymptotic Theory (Paperback, Softcover reprint of hardcover 1st ed. 1997): Benedikt M.... Dynamic Nonlinear Econometric Models - Asymptotic Theory (Paperback, Softcover reprint of hardcover 1st ed. 1997)
Benedikt M. Poetscher, Ingmar R. Prucha
R5,152 Discovery Miles 51 520 Ships in 18 - 22 working days

Many relationships in economics, and also in other fields, are both dynamic and nonlinear. A major advance in econometrics over the last fifteen years has been the development of a theory of estimation and inference for dy namic nonlinear models. This advance was accompanied by improvements in computer technology that facilitate the practical implementation of such estimation methods. In two articles in Econometric Reviews, i.e., Potscher and Prucha {1991a, b), we provided -an expository discussion of the basic structure of the asymptotic theory of M-estimators in dynamic nonlinear models and a review of the literature up to the beginning of this decade. Among others, the class of M-estimators contains least mean distance estimators (includ ing maximum likelihood estimators) and generalized method of moment estimators. The present book expands and revises the discussion in those articles. It is geared towards the professional econometrician or statistician. Besides reviewing the literature we also presented in the above men tioned articles a number of then new results. One example is a consis tency result for the case where the identifiable uniqueness condition fails."

Introduction to the Theory of Cooperative Games (Paperback, Softcover reprint of hardcover 2nd ed. 2007): Bezalel Peleg, Peter... Introduction to the Theory of Cooperative Games (Paperback, Softcover reprint of hardcover 2nd ed. 2007)
Bezalel Peleg, Peter Sudhoelter
R2,895 Discovery Miles 28 950 Ships in 18 - 22 working days

This book systematically presents the main solutions of cooperative games: the core, bargaining set, kernel, nucleolus, and the Shapley value of TU games as well as the core, the Shapley value, and the ordinal bargaining set of NTU games. The authors devote a separate chapter to each solution, wherein they study its properties in full detail. In addition, important variants are defined or even intensively analyzed.

Dynamic Games: Theory and Applications (Paperback, Softcover reprint of hardcover 1st ed. 2005): Alain Haurie, Georges Zaccour Dynamic Games: Theory and Applications (Paperback, Softcover reprint of hardcover 1st ed. 2005)
Alain Haurie, Georges Zaccour
R2,857 Discovery Miles 28 570 Ships in 18 - 22 working days

Dynamic games continue to attract strong interest from researchers interested in modelling competitive as well as conflict situations exhibiting an intertemporel aspect. Applications of dynamic games have proven to be a suitable methodology to study the behaviour of players (decision-makers) and to predict the outcome of such situations in many areas including engineering, economics, management science, military, biology and political science.

Dynamic Games Theory and Applications collects thirteen articles written by established researchers. It is an excellent reference for researchers and graduate students covering a wide range of emerging and revisited problems in both cooperative and non-cooperative games in different areas of applications, especially in economics and management science.

General Equilibrium and Welfare Economics - An Introduction (Paperback, Softcover reprint of hardcover 1st ed. 2007): James C.... General Equilibrium and Welfare Economics - An Introduction (Paperback, Softcover reprint of hardcover 1st ed. 2007)
James C. Moore
R2,733 Discovery Miles 27 330 Ships in 18 - 22 working days

This book offers the basic grasp of general equilibrium theory that is a fundamental background for advanced work in virtually any sub-field of economics, and the thorough understanding of the methods of welfare economics, particularly in a general equilibrium context, that is indispensable for undertaking applied policy analysis. The book uses extensive examples, both simple ones intended to bolster basic concepts, and those illustrating application of the material to economics in practice.

Handbook on Optimal Growth 1 - Discrete Time (Paperback, Softcover reprint of hardcover 1st ed. 2006): Rose-Anne Dana, Cuong... Handbook on Optimal Growth 1 - Discrete Time (Paperback, Softcover reprint of hardcover 1st ed. 2006)
Rose-Anne Dana, Cuong Van, Tapan Mitra, Kazuo Nishimura
R4,100 Discovery Miles 41 000 Ships in 18 - 22 working days

The problem of efficient or optimal allocation of resources is a fundamental concern of economic analysis. This book provides surveys of significant results of the theory of optimal growth, as well as the techniques of dynamic optimization theory on which they are based. Armed with the results and methods of this theory, a researcher will be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics.

Irreversible Decisions under Uncertainty - Optimal Stopping Made Easy (Paperback, Softcover reprint of hardcover 1st ed. 2007):... Irreversible Decisions under Uncertainty - Optimal Stopping Made Easy (Paperback, Softcover reprint of hardcover 1st ed. 2007)
Svetlana Boyarchenko, Sergei Levendorskii
R4,014 Discovery Miles 40 140 Ships in 18 - 22 working days

Here, two highly experienced authors present an alternative approach to optimal stopping problems. The basic ideas and techniques of the approach can be explained much simpler than the standard methods in the literature on optimal stopping problems. The monograph will teach the reader to apply the technique to many problems in economics and finance, including new ones. From the technical point of view, the method can be characterized as option pricing via the Wiener-Hopf factorization.

Oligopoly Dynamics - Models and Tools (Paperback, Softcover reprint of hardcover 1st ed. 2002): Irina Sushko Oligopoly Dynamics - Models and Tools (Paperback, Softcover reprint of hardcover 1st ed. 2002)
Irina Sushko
R2,661 Discovery Miles 26 610 Ships in 18 - 22 working days

These proceedings are from a conference held at the Centre for Regional Science (CERUM) at Umea Umea University, Sweden, 17-18 June 2001. Unlike Un1ike many conference proceedings, this volume contains only on1y invited invited contribu- contribu- tions tions on specified topics so as to make the book coherent and self-contained. The authors and editors hope that this coherence will make the volume use- fu1 fuI also as a text for courses in industrial organisation. To this end two chap- ters on the history of oligopoly theory, from the beginnings with Cournot 1838, to the present day, and one chapter on modem methods for analysing iterated discrete time maps, have been inserted at the beginning ofthe book. Unlike Un1ike most current literature on games and oligopoly, this book is not focused on the usual topics of game theory: optimal strategies, dominance, and equilibrium. Rather it is the evolutionary dynamics, often of a complex type, inc1uding deterministic chaos, which are in focus. The contributions, after the historical and the methodological introductions, represent various segments of the research frontier in this area, though pains have been taken to tie some of the models to a number of most promising contributions from the frugal period 1929-1941, which have suffered from unjust neglect in the following industrial organisation literature.

Theories of Imperfectly Competitive Markets (Paperback, Softcover reprint of the original 2nd ed. 2001): Luis C. Corchon Theories of Imperfectly Competitive Markets (Paperback, Softcover reprint of the original 2nd ed. 2001)
Luis C. Corchon
R2,653 Discovery Miles 26 530 Ships in 18 - 22 working days

The ambition of the theory of imperfectly competitive markets is to explain the working of markets in which the issue of strategic interaction among firms is central. Our analysis of this problem will be based on equilibrium concepts borrowed from Game Theory. This research program arises several questions on its feasibility like the empirical relevance of the results, the substantial theoretical insights obtained in this way, etc. Unfortunately, most of these questions can not be answered in the short run. This book is written in the hope that this research strategy is meaningful, but about its final success no body can tell. Another important question is if simpler models could deliver the essential insights offered by the theory of imperfectly competitive mar kets. This Introduction will be devoted to argue that, currently, there is no alternative to the approach presented in this book. Consider the following fact: A square inch of soil in the Explanada of Ali cante (located in front of the sea, right in the middle of downtown) cost several times more than a square inch of soil in San Vicente del Raspeig (located sev eral miles toward the interior of the peninsula). l How can we explain such a thing? First notice that because of the large quantity of possible traders involved in this market, we can safely assume that any agent has to accept the market price, i. e. is a price-taker."

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