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Game Theory and Exercises (Hardcover)
Loot Price: R5,434
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Game Theory and Exercises (Hardcover)
Series: Routledge Advanced Texts in Economics and Finance
Expected to ship within 12 - 17 working days
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Game Theory and Exercises introduces the main concepts of game
theory, along with interactive exercises to aid readers' learning
and understanding. Game theory is used to help players understand
decision-making, risk-taking and strategy and the impact that the
choices they make have on other players; and how the choices of
those players, in turn, influence their own behaviour. So, it is
not surprising that game theory is used in politics, economics, law
and management. This book covers classic topics of game theory
including dominance, Nash equilibrium, backward induction, repeated
games, perturbed strategie s, beliefs, perfect equilibrium, Perfect
Bayesian equilibrium and replicator dynamics. It also covers recent
topics in game theory such as level-k reasoning, best reply
matching, regret minimization and quantal responses. This textbook
provides many economic applications, namely on auctions and
negotiations. It studies original games that are not usually found
in other textbooks, including Nim games and traveller's dilemma.
The many exercises and the inserts for students throughout the
chapters aid the reader's understanding of the concepts. With more
than 20 years' teaching experience, Umbhauer's expertise and
classroom experience helps students understand what game theory is
and how it can be applied to real life examples. This textbook is
suitable for both undergraduate and postgraduate students who study
game theory, behavioural economics and microeconomics.
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