Dynamic Games in Economics

Dynamic Games in Economics
Author: Josef Haunschmied
Publisher: Springer
Total Pages: 321
Release: 2014-07-08
Genre: Mathematics
ISBN: 3642542484

Dynamic game theory serves the purpose of including strategic interaction in decision making and is therefore often applied to economic problems. This book presents the state-of-the-art and directions for future research in dynamic game theory related to economics. It was initiated by contributors to the 12th Viennese Workshop on Optimal Control, Dynamic Games and Nonlinear Dynamics and combines a selection of papers from the workshop with invited papers of high quality.

A Survey Of Dynamic Games In Economics

A Survey Of Dynamic Games In Economics
Author: Ngo Van Long
Publisher: World Scientific
Total Pages: 290
Release: 2010-09-23
Genre: Mathematics
ISBN: 981446595X

This book provides readers with a comprehensive survey of models of dynamic games in economics, including an extensive coverage of numerous fields of applications. It will also discuss and explain main concepts and techniques used in dynamic games, and inform readers of its major developments while equipping them with tools and ideas that will aid in the formulation of solutions for problems. A Survey of Dynamic Games in Economics will interest those who wish to study more about the conceptions, approaches and models that are applied in the domain of dynamic games.

Population Games and Evolutionary Dynamics

Population Games and Evolutionary Dynamics
Author: William H. Sandholm
Publisher: MIT Press
Total Pages: 618
Release: 2010-12-17
Genre: Business & Economics
ISBN: 0262195879

Evolutionary game theory studies the behaviour of large populations of strategically interacting agents & is used by economists to predict in settings where traditional assumptions about the rationality of agents & knowledge may be inapplicable.

Games And Dynamic Games

Games And Dynamic Games
Author: Alain Haurie
Publisher: World Scientific Publishing Company
Total Pages: 488
Release: 2012-03-23
Genre: Mathematics
ISBN: 981440134X

Dynamic games arise between players (individuals, firms, countries, animals, etc.) when the strategic interactions among them recur over time and decisions made during one period affect both current and future payoffs. Dynamic games provide conceptually rich paradigms and tools to deal with these situations.This volume provides a uniform approach to game theory and illustrates it with present-day applications to economics and management, including environmental, with the emphasis on dynamic games.At the end of each chapter a case study called game engineering (GE) is provided, to help readers understand how problems of high social priority, such as environmental negotiations, exploitation of common resources, can be modeled as games and how solutions can be engineered.

Dynamic Games: Theory and Applications

Dynamic Games: Theory and Applications
Author: Alain Haurie
Publisher: Springer Science & Business Media
Total Pages: 296
Release: 2005-05-06
Genre: Business & Economics
ISBN: 9780387246017

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.

Evolutionary Games and Equilibrium Selection

Evolutionary Games and Equilibrium Selection
Author: Larry Samuelson
Publisher: MIT Press
Total Pages: 332
Release: 1997
Genre: Business & Economics
ISBN: 9780262692199

The author examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge. Larry Samuelson has been one of the main contributors to the evolutionary game theory literature. In Evolutionary Games and Equilibrium Selection, he examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. After providing an overview of the basic issues of game theory and a presentation of the basic models, the book addresses evolutionary stability, the dynamics of sample paths, the ultimatum game, drift, noise, backward and forward induction, and strict Nash equilibria.

The Theory of Learning in Games

The Theory of Learning in Games
Author: Drew Fudenberg
Publisher: MIT Press
Total Pages: 304
Release: 1998
Genre: Business & Economics
ISBN: 9780262061940

This work explains that equilibrium is the long-run outcome of a process in which non-fully rational players search for optimality over time. The models they e×plore provide a foundation for equilibrium theory and suggest ways for economists to evaluate and modify traditional equilibrium concepts.

Games and Dynamics in Economics

Games and Dynamics in Economics
Author: Ferenc Szidarovszky
Publisher: Springer Nature
Total Pages: 303
Release: 2020-04-11
Genre: Mathematics
ISBN: 9811536236

This book focuses on the latest advances in nonlinear dynamic modeling in economics and finance, mainly—but not solely—based on the description of strategic interaction by using concepts and methods from dynamic and evolutionary game theory. The respective chapters cover a range of theoretical issues and examples concerning how the qualitative theory of dynamical systems is used to analyze the local and global bifurcations that characterize complex behaviors observed in social systems where heterogeneous and boundedly rational economic agents interact. Nonlinear dynamical systems, represented by difference and differential and functional equations, are extensively used to simulate the behavior of time-evolving economic systems, also in the presence of time lags, discontinuities, and hysteresis phenomena. In addition, some theoretical issues and particular applications are discussed, as well. The contributions gathered here offer an up-to-date review of the latest research in this rapidly developing research area.

Theory of Games and Economic Behavior

Theory of Games and Economic Behavior
Author: John Von Neumann
Publisher: Diana
Total Pages: 660
Release: 2020-01-29
Genre: Games & Activities
ISBN: 9785608789779

This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper together blossomed, 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.