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Natural Justice

Ken Binmore

Published in print:
2005
Published Online:
January 2007
ISBN:
9780195178111
eISBN:
9780199783670
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195178111.001.0001
Subject:
Economics and Finance, Microeconomics

This book attempts to create an evolutionary theory of fairness. Sharing food is commonplace in the animal kingdom because it insures animals that share against hunger. Anthropologists report that ... More


Applications to Game Theory

Paul Weirich

in Realistic Decision Theory: Rules for Nonideal Agents in Nonideal Circumstances

Published in print:
2004
Published Online:
November 2004
ISBN:
9780195171259
eISBN:
9780199834976
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019517125X.003.0009
Subject:
Philosophy, Logic/Philosophy of Mathematics

An agent in a game of strategy often has a preference ranking of options without a stable top. Strategic reasoning leads the players to a profile of strategies that are jointly self-supporting. Such ... More


Equilibrium

Ken Binmore

in Natural Justice

Published in print:
2005
Published Online:
January 2007
ISBN:
9780195178111
eISBN:
9780199783670
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195178111.003.0004
Subject:
Economics and Finance, Microeconomics

After demolishing metaphysical notions of moral behavior, John Mackie's Inventing Right and Wrong argues that the way forward is through the study of anthropology and game theory. This chapter begins ... More


 Keeping Your Balance

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0008
Subject:
Economics and Finance, Microeconomics

This chapter focuses on the existence of Nash equilibria. The existence problem is first introduced with pure-strategy reaction curves for Noisy and Silent Duel. A proof of John Nash's existence ... More


Playing for Real: Game Theory

Ken Binmore

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.001.0001
Subject:
Economics and Finance, Microeconomics

This book provides an introduction to game theory that seeks to answer all three questions: what is game theory about? How do I apply game theory? Why is game theory right? The topics covered include ... More


Illustrations and Comparisons

Paul Weirich

in Collective Rationality: Equilibrium in Cooperative Games

Published in print:
2010
Published Online:
September 2009
ISBN:
9780195388381
eISBN:
9780199866700
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195388381.003.0010
Subject:
Philosophy, Logic/Philosophy of Mathematics

A concrete game's strategic equilibria depend on the players' pursuit of incentives in the game. This chapter presents illustrations of strategic equilibria. It also compares strategic equilibria to ... More


Equilibrium

Paul Weirich

in Collective Rationality: Equilibrium in Cooperative Games

Published in print:
2010
Published Online:
September 2009
ISBN:
9780195388381
eISBN:
9780199866700
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195388381.003.0006
Subject:
Philosophy, Logic/Philosophy of Mathematics

Some games lack a Nash equilibrium. Because collective rationality is attainable, it does not require that the players realize a Nash equilibrium. It requires that players realize a generalization of ... More


Game Theory: Basic Concepts

Herbert Gintis

in The Bounds of Reason: Game Theory and the Unification of the Behavioral Sciences

Published in print:
2014
Published Online:
October 2017
ISBN:
9780691160849
eISBN:
9781400851348
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691160849.003.0002
Subject:
Sociology, Economic Sociology

This chapter deals with the basic concepts of game theory. It presents the formulations for the extensive form, normal form, and Nash equilibrium. It concludes with a brief discussion of correlated ... More


 Getting Locked In

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0001
Subject:
Economics and Finance, Microeconomics

This chapter uses the Prisoner's Dilemma as the linking idea in an overview of many of the topics covered later in the book. The basic ideas are that of a dominated strategy and a Pareto-efficient ... More


 Backing Up

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0002
Subject:
Economics and Finance, Microeconomics

This chapter's title signifies not only that backward induction is introduced, but that some backing up is necessary to put the material of the previous chapter on a more solid foundation. The game ... More


 Knowing What to Believe

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0015
Subject:
Economics and Finance, Microeconomics

This chapter describes John Harsanyi's theory of so-called games of incomplete information using Poker as a motivating example. The chapter begins by analyzing a simplified version of Von Neumann's ... More


Nash Equilibrium—Existence and Refinements

James Bergin

in Microeconomic Theory: A Concise Course

Published in print:
2005
Published Online:
July 2005
ISBN:
9780199280292
eISBN:
9780191602498
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280290.003.0004
Subject:
Economics and Finance, Microeconomics

Existence of Nash equilibrium is considered. The major strategic form equilibrium refinements are examined. Classical ?xed point theorems used in establishing existence of equilibrium are reviewed.


Cooperative Games

Paul Weirich

in Collective Rationality: Equilibrium in Cooperative Games

Published in print:
2010
Published Online:
September 2009
ISBN:
9780195388381
eISBN:
9780199866700
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195388381.003.0008
Subject:
Philosophy, Logic/Philosophy of Mathematics

Players may act jointly to honor a contract that binds them. Cooperative games afford opportunities for joint action, that is, collective action that is causally coordinated by, say, an agreement ... More


Moral Science

Ken Binmore

in Natural Justice

Published in print:
2005
Published Online:
January 2007
ISBN:
9780195178111
eISBN:
9780199783670
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195178111.003.0001
Subject:
Economics and Finance, Microeconomics

This chapter presents an overview of the book. It argues that the metaphysical approach to ethics is a failure and that the time has come to take a scientific view of morality. A social contract is ... More


Compositionality

Paul Weirich

in Collective Rationality: Equilibrium in Cooperative Games

Published in print:
2010
Published Online:
September 2009
ISBN:
9780195388381
eISBN:
9780199866700
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195388381.003.0011
Subject:
Philosophy, Logic/Philosophy of Mathematics

If the members of a group act rationally, so does the group. Moreover, the rationality of the members' acts explains the rationality of the group's act. The general principle of compositionality ... More


The Mixing Problem: Purification and Conjectures

Herbert Gintis

in The Bounds of Reason: Game Theory and the Unification of the Behavioral Sciences

Published in print:
2014
Published Online:
October 2017
ISBN:
9780691160849
eISBN:
9781400851348
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691160849.003.0007
Subject:
Sociology, Economic Sociology

Economic theory stresses that a proposed mechanism for solving a coordination problem assuming self-regarding agents is plausible only if it is incentive compatible: each agent should find it in his ... More


Strategic Form Games

James Bergin

in Microeconomic Theory: A Concise Course

Published in print:
2005
Published Online:
July 2005
ISBN:
9780199280292
eISBN:
9780191602498
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280290.003.0003
Subject:
Economics and Finance, Microeconomics

Discusses games in strategic form. Models of behaviour are described. Nash and correlated equilibrium are considered.


Summary

Herbert Gintis

in The Bounds of Reason: Game Theory and the Unification of the Behavioral Sciences

Published in print:
2014
Published Online:
October 2017
ISBN:
9780691160849
eISBN:
9781400851348
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691160849.003.0012
Subject:
Sociology, Economic Sociology

This chapter summarizes the book's main points, covering game theory, the commonality of beliefs, the limits of rationality, social norms as correlated equilibria, and how reason is bounded by ... More


Information, Equilibrium, and Efficiency Concepts

Markus K. Brunnermeier

in Asset Pricing under Asymmetric Information: Bubbles, Crashes, Technical Analysis, and Herding

Published in print:
2001
Published Online:
November 2003
ISBN:
9780198296980
eISBN:
9780191596025
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198296983.003.0001
Subject:
Economics and Finance, Financial Economics

Ch. 1 shows the reader how to model asymmetric information and knowledge in theoretical economics. It also introduces the concept of higher‐order knowledge. For the analysis of bubbles it is ... More


Dreams of a Final Theory

Paul Erickson

in The World the Game theorists Made

Published in print:
2015
Published Online:
May 2016
ISBN:
9780226097039
eISBN:
9780226097206
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226097206.003.0007
Subject:
History, History of Science, Technology, and Medicine

The appearances of game theory in evolutionary biology in the 1970s foreshadowed the theory’s widespread adoption in the social sciences in the 1980s. During this latter period, the analysis of ... More


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