Grey Game Theory and Its Applications in Economic Decision-Making
Language: English
Published by Taylor & Francis Group, 2009
Series: Book 11 of 13 - Systems Evaluation, Prediction, and Decision-Making
- Hardcover
- New
Seller: Books Puddle, Woodside, NY, U.S.A.Books Puddle
AbeBooks seller since November 22, 2018
Condition: New
£ 205.58
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pp. 360.
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- Title
- Grey Game Theory and Its Applications in Economic Decision-Making
- Author
- Hongxing Shi Sifeng Liu Zhigeng Fang
- Publisher
- Taylor & Francis Group
- Publication year
- 2009
- Condition
- New
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 1420087398
- ISBN 13
- 9781420087390
- Series
- Book 11 of 13: Systems Evaluation, Prediction, and Decision-Making
To make the best decisions, you need the best information. However, because most issues in game theory are grey, nearly all recent research has been carried out using a simplified method that considers grey systems as white ones. This often results in a forecasting function that is far from satisfactory when applied to many real situations. Grey Game Theory and Its Applications in Economic Decision Making introduces classic game theory into the realm of grey system theory with limited knowledge. The book resolves three theoretical issues:
- A game equilibrium of grey game
- A reasonable explanation for the equilibrium of a grey matrix of static nonmatrix game issues based on incomplete information
- The Centipede Game paradox, which has puzzled theory circles for a long time and greatly enriched and developed the core methods of subgame Nash perfect equilibrium analysis as a result
The book establishes a grey matrix game model based on pure and mixed strategies. The author proposes the concepts of grey saddle points, grey mixed strategy solutions, and their corresponding structures and also puts forward the models and methods of risk measurement and evaluation of optimal grey strategies. He raises and solves the problems of grey matrix games. The book includes definitions of the test rules of information distortion experienced during calculation, the design of tokens based on new interval grey numbers, and new arithmetic laws to manipulate grey numbers. These features combine to provide a practical and efficient tool for forecasting real-life economic problems.
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About the Author
Zhigeng Fang is professor and doctoral tutor at the College of Economics and management, Nanjing University of Aeronautics and Astronautics (NUAA), China. From 1996 to 1999, he studied at Xi’an University of Technology, earning a master’s degree in management science and engineering management. From 2003 to 2007, he attended NUAA, earning a doctoral degree in systems engineering. His academic part-time positions include under-secretary-general of IEEE International Professional Committee of Grey Systems; governor of the Chinese Society for Optimization, Overall Planning and Economic Mathematics; managing director of Complex Systems Research Committee; secretary-general of Grey Systems Society of China; under-secretary-general of the Systems Engineering Society of Jiangsu Province, China; deputy director of the Post-Evaluation Research Center of Jiangsu Province; deputy director of the Grey Systems Research Institute of NUAA. He is a member of Services Science Global and the Services and Logistics Technical Committee of IEEE Intelligent Transportation Systems Society. His main research directions lie in the fields of theory and methods of uncertain prediction and decision, Grey game theory, applied economic, and energy economics.
"About the title" may belong to another edition of this title.
Books Puddle
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AbeBooks seller since November 22, 2018
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