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Game Theoretic Analysis (Hardcover)
Loot Price: R6,253
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Game Theoretic Analysis (Hardcover)
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This is a collection of recent novel contributions in game theory
from a group of prominent authors in the field. It covers
Non-cooperative Games, Equilibrium Analysis, Cooperative Games and
Axiomatic Values in static and dynamic contexts.Part 1:
Non-cooperative Games and Equilibrium AnalysisIn game theory, a
non-cooperative game is a game with competition between individual
players and in which only self-enforcing (e.g. through credible
threats) alliances (or competition between groups of players,
called 'coalitions') are possible due to the absence of external
means to enforce cooperative behavior (e.g. contract law), as
opposed to cooperative games. In fact, non-cooperative games are
the foundation for the development of cooperative games by acting
as the status quo. Non-cooperative games are generally analysed
through the framework of equilibrium, which tries to predict
players' individual strategies and payoffs. Indeed, equilibrium
analysis is the centre of non-cooperative games. This volume on
non-cooperative games and equilibrium analysis contains a variety
of non-cooperative games and non-cooperative game equilibria from
prominent authors in the field.Part 2: Cooperative Games and
Axiomatic ValuesIt is well known that non-cooperative behaviours,
in general, would not lead to a Pareto optimal outcome. Highly
undesirable outcomes (like the prisoner's dilemma) and even
devastating results (like the tragedy of the commons) could appear
when the involved parties only care about their individual
interests in a non-cooperative situation. Cooperative games offer
the possibility of obtaining socially optimal and group efficient
solutions to decision problems involving strategic actions. In
addition, axiomatic values serve as guidance for establishing
cooperative solutions. This volume on cooperative games and
axiomatic values presents a collection of cooperative games and
axiomatic values from prominent authors in the field.
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