Game Theory – Analysis of Conflict - Hardcover

Myerson, Roger B.

Hardcover

ISBN 10: 0674341155 ISBN 13: 9780674341159

Publisher: Harvard University Press, 1991

Synopsis

Game theory deals with questions that are basic to all social sciences; it offers insight into any economic, political, or social situation that involves people with different goals or preferences. This book presents some of the most important models, solution concepts, and resutls of noncooperative and cooperative game theory, as well as the methodological principles that have guided the development of the fundamental models of game theory: games in extensive form and strategic form and Bayesian games with incomplete information. He defines Nash equilibria, sequential equilibria, and other equlibrium concepts and discusses their uses and limitations. He also covers incentive compatibility in games with communication, repeated games, two-person bargaining problems, cooperative solutions for coalitional games, and cooperation under uncertainty.

About this title

Review:

Myerson provides a good introduction to game theory, focusing on the 'generality and unity of game theory' rather than on its extensive applications. After a brief overview of Bayesian decision theory, noncooperative and cooperative models of games are explored in the context of their solutions, results, and guiding methodological principles. The relative merits of the extensive form and the strategic form of a game are illustrated, which lead naturally into an analysis of equilibria for each representation. Special extensions are discussed, including games with communication, repeated games, and noncooperative games that introduce the elements of bargaining and coalitions...The book has interesting and challenging problem sets for each chapter as well as a bibliography for students who want to study in more depth specific topics in game theory. A very well-written introduction to game theory. Exposing an applied mathematics field on a basic level poses a challenge to an author, namely, to find the proper mix of displaying the models, providing the motivation and presenting the mathematical results and derivations. This is even more true in a field like game theory, where the models are not universally acceptable as adequately depicting real applications. The author, in the text under review, is doing remarkably well. The models are displayed with enough details and explanations to generate motivation even in newcomers to the field...All in all, it is a very good elaborate introduction to game theory. -- Zvi Artstein "Mathematical Reviews" In a clear, Myersonian writing style, this book systematically describes our state-of-the-art knowledge of game theory. Written as an introductory text, it looks at the subject from the viewpoint of a newcomer to the field, beginning with utility theory and arriving at the most sophisticated ideas discussed today. Myerson not only gives complete mathematical statements and proofs, but also supplies the intuitive arguments that motivate them...Because of its comprehensiveness, researchers and users of game theory can find descriptions of almost all special game theoretic topics and issues presented in "user friendly" style...It is very likely that Myerson's "Game Theory" will remain the main introductory text for many years to come. -- Ehud Kalai "Games and Economic Behavior" "Game Theory" will remain the main introductory text for many years to come. displayed with enough details and explanations to generate motivation even in newcomers to the field...All in all, it is a very good elaborate introduction to game theory. coalitions...The book has interesting and challenging problem sets for each chapter as well as a bibliography for students who want to study in more depth specific topics in game theory.

About the Author:

Roger B. Myerson is Harold L. Stuart Professor of Decision Sciences at the J. L. Kellogg Graduate School of Management, Northwestern University. He is a Fellow of the Econometric Society.

About this edition

• Publisher: Harvard University Press
• Publication date: 1991
• ISBN 10: 0674341155
• ISBN 13: 9780674341159
• Binding: Hardcover
• Number of pages: 584