Author: Andrew M. Colman
Publisher: Elsevier
ISBN: 1483137147
Category : Business & Economics
Languages : en
Pages : 314
Book Description
Game Theory and Experimental Games: The Study of Strategic Interaction focuses on the development of game theory, taking into consideration empirical research, theoretical formulations, and research procedures involved. The book proceeds with a discussion on the theory of one-person games. The individual decision that a player makes in these kinds of games is noted as influential as to the outcome of these games. This discussion is followed by a presentation of pure coordination games and minimal situation. The ability of players to anticipate the choices of others to achieve a mutually beneficial outcome is emphasized. A favorable social situation is also influential in these kinds of games. The text moves forward by presenting studies on various kinds of competitive games. The research studies presented are coupled with empirical evidence and discussion designed to support the claims that are pointed out. The book also discusses several kinds of approaches in the study of games. Voting as a way to resolve multi-person games is also emphasized, including voting procedures, the preferences of voters, and voting strategies. The book is a valuable source of data for readers and scholars who are interested in the exploration of game theories.
Game Theory and Experimental Games
Author: Andrew M. Colman
Publisher: Elsevier
ISBN: 1483137147
Category : Business & Economics
Languages : en
Pages : 314
Book Description
Game Theory and Experimental Games: The Study of Strategic Interaction focuses on the development of game theory, taking into consideration empirical research, theoretical formulations, and research procedures involved. The book proceeds with a discussion on the theory of one-person games. The individual decision that a player makes in these kinds of games is noted as influential as to the outcome of these games. This discussion is followed by a presentation of pure coordination games and minimal situation. The ability of players to anticipate the choices of others to achieve a mutually beneficial outcome is emphasized. A favorable social situation is also influential in these kinds of games. The text moves forward by presenting studies on various kinds of competitive games. The research studies presented are coupled with empirical evidence and discussion designed to support the claims that are pointed out. The book also discusses several kinds of approaches in the study of games. Voting as a way to resolve multi-person games is also emphasized, including voting procedures, the preferences of voters, and voting strategies. The book is a valuable source of data for readers and scholars who are interested in the exploration of game theories.
Publisher: Elsevier
ISBN: 1483137147
Category : Business & Economics
Languages : en
Pages : 314
Book Description
Game Theory and Experimental Games: The Study of Strategic Interaction focuses on the development of game theory, taking into consideration empirical research, theoretical formulations, and research procedures involved. The book proceeds with a discussion on the theory of one-person games. The individual decision that a player makes in these kinds of games is noted as influential as to the outcome of these games. This discussion is followed by a presentation of pure coordination games and minimal situation. The ability of players to anticipate the choices of others to achieve a mutually beneficial outcome is emphasized. A favorable social situation is also influential in these kinds of games. The text moves forward by presenting studies on various kinds of competitive games. The research studies presented are coupled with empirical evidence and discussion designed to support the claims that are pointed out. The book also discusses several kinds of approaches in the study of games. Voting as a way to resolve multi-person games is also emphasized, including voting procedures, the preferences of voters, and voting strategies. The book is a valuable source of data for readers and scholars who are interested in the exploration of game theories.
Handbook of Experimental Game Theory
Author: C. M. Capra
Publisher: Edward Elgar Publishing
ISBN: 1785363336
Category : Business & Economics
Languages : en
Pages : 448
Book Description
The aim of this Handbook is twofold: to educate and to inspire. It is meant for researchers and graduate students who are interested in taking a data-based and behavioral approach to the study of game theory. Educators and students of economics will find the Handbook useful as a companion book to conventional upper-level game theory textbooks, enabling them to compare and contrast actual behavior with theoretical predictions. Researchers and non-specialists will find valuable examples of laboratory and field experiments that test game theoretic propositions and suggest new ways of modeling strategic behavior. Chapters are organized into several sections; each section concludes with an inspirational chapter, offering suggestions on new directions and cutting-edge topics of research in experimental game theory.
Publisher: Edward Elgar Publishing
ISBN: 1785363336
Category : Business & Economics
Languages : en
Pages : 448
Book Description
The aim of this Handbook is twofold: to educate and to inspire. It is meant for researchers and graduate students who are interested in taking a data-based and behavioral approach to the study of game theory. Educators and students of economics will find the Handbook useful as a companion book to conventional upper-level game theory textbooks, enabling them to compare and contrast actual behavior with theoretical predictions. Researchers and non-specialists will find valuable examples of laboratory and field experiments that test game theoretic propositions and suggest new ways of modeling strategic behavior. Chapters are organized into several sections; each section concludes with an inspirational chapter, offering suggestions on new directions and cutting-edge topics of research in experimental game theory.
Decision Making Using Game Theory
Author: Anthony Kelly
Publisher: Cambridge University Press
ISBN: 9781139438131
Category : Business & Economics
Languages : en
Pages : 228
Book Description
Game theory is a key element in most decision-making processes involving two or more people or organisations. This book explains how game theory can predict the outcome of complex decision-making processes, and how it can help you to improve your own negotiation and decision-making skills. It is grounded in well-established theory, yet the wide-ranging international examples used to illustrate its application offer a fresh approach to an essential weapon in the armoury of the informed manager. The book is accessibly written, explaining in simple terms the underlying mathematics behind games of skill, before moving on to more sophisticated topics such as zero-sum games, mixed-motive games, and multi-person games, coalitions and power. Clear examples and helpful diagrams are used throughout, and the mathematics is kept to a minimum. It is written for managers, students and decision makers in any field.
Publisher: Cambridge University Press
ISBN: 9781139438131
Category : Business & Economics
Languages : en
Pages : 228
Book Description
Game theory is a key element in most decision-making processes involving two or more people or organisations. This book explains how game theory can predict the outcome of complex decision-making processes, and how it can help you to improve your own negotiation and decision-making skills. It is grounded in well-established theory, yet the wide-ranging international examples used to illustrate its application offer a fresh approach to an essential weapon in the armoury of the informed manager. The book is accessibly written, explaining in simple terms the underlying mathematics behind games of skill, before moving on to more sophisticated topics such as zero-sum games, mixed-motive games, and multi-person games, coalitions and power. Clear examples and helpful diagrams are used throughout, and the mathematics is kept to a minimum. It is written for managers, students and decision makers in any field.
Experiments on Entrepreneurial Decision Making
Author: Christian Schade
Publisher: Now Publishers Inc
ISBN: 1601981988
Category : Business & Economics
Languages : en
Pages : 69
Book Description
Experiments on Entrepreneurial Decision Making defines the structure of a decision-making process including examples, suggests a classification of experiments, explains different experimental designs, describes quality criteria of experiments and addresses the differences between economic and psychological experiments.
Publisher: Now Publishers Inc
ISBN: 1601981988
Category : Business & Economics
Languages : en
Pages : 69
Book Description
Experiments on Entrepreneurial Decision Making defines the structure of a decision-making process including examples, suggests a classification of experiments, explains different experimental designs, describes quality criteria of experiments and addresses the differences between economic and psychological experiments.
Game Theory and Behavior
Author: Jeffrey Carpenter
Publisher: MIT Press
ISBN: 0262047292
Category : Mathematics
Languages : en
Pages : 725
Book Description
An introduction to game theory that offers not only theoretical tools but also the intuition and behavioral insights to apply these tools to real-world situations. This introductory text on game theory provides students with both the theoretical tools to analyze situations through the logic of game theory and the intuition and behavioral insights to apply these tools to real-world situations. It is unique among game theory texts in offering a clear, formal introduction to standard game theory while incorporating evidence from experimental data and introducing recent behavioral models. Students will not only learn about incentives, how to represent situations as games, and what agents “should” do in these situations, but they will also be presented with evidence that either confirms the theoretical assumptions or suggests a way in which the theory might be updated. Features: Each chapter begins with a motivating example that can be run as an experiment and ends with a discussion of the behavior in the example. Parts I–IV cover the fundamental “nuts and bolts” of any introductory game theory course, including the theory of games, simple games with simultaneous decision making by players, sequential move games, and incomplete information in simultaneous and sequential move games. Parts V–VII apply the tools developed in previous sections to bargaining, cooperative game theory, market design, social dilemmas, and social choice and voting. Part VIII offers a more in-depth discussion of behavioral game theory models including evolutionary and psychological game theory. Supplemental material on the book’s website include solutions to end-of-chapter exercises, a manual for running each chapter’s experimental games using pencil and paper, and the oTree codes for running the games online.
Publisher: MIT Press
ISBN: 0262047292
Category : Mathematics
Languages : en
Pages : 725
Book Description
An introduction to game theory that offers not only theoretical tools but also the intuition and behavioral insights to apply these tools to real-world situations. This introductory text on game theory provides students with both the theoretical tools to analyze situations through the logic of game theory and the intuition and behavioral insights to apply these tools to real-world situations. It is unique among game theory texts in offering a clear, formal introduction to standard game theory while incorporating evidence from experimental data and introducing recent behavioral models. Students will not only learn about incentives, how to represent situations as games, and what agents “should” do in these situations, but they will also be presented with evidence that either confirms the theoretical assumptions or suggests a way in which the theory might be updated. Features: Each chapter begins with a motivating example that can be run as an experiment and ends with a discussion of the behavior in the example. Parts I–IV cover the fundamental “nuts and bolts” of any introductory game theory course, including the theory of games, simple games with simultaneous decision making by players, sequential move games, and incomplete information in simultaneous and sequential move games. Parts V–VII apply the tools developed in previous sections to bargaining, cooperative game theory, market design, social dilemmas, and social choice and voting. Part VIII offers a more in-depth discussion of behavioral game theory models including evolutionary and psychological game theory. Supplemental material on the book’s website include solutions to end-of-chapter exercises, a manual for running each chapter’s experimental games using pencil and paper, and the oTree codes for running the games online.
Experimental Studies of Interactive Decisions
Author: Amnon Rapoport
Publisher: Springer Science & Business Media
ISBN: 9400919921
Category : Business & Economics
Languages : en
Pages : 442
Book Description
This book is about the interplay of theory and experimentation on group decision making in economics. The theories that the book subjects to experimental testing mostly come from the theory of games. The decisions investigated in the book mostly concern economic interaction like strict competition. two-person bargaining. and coalition formation. The underlying philosophy of the articles collected in this book is consistent with the opinion of a growing number of economists and psychologists that economic issues cannot be understood fully just by thinking about them. Rather. the interplay between theory and experimentation is critical for the development of economics as an observational science (Smith. 1989). Reports of laboratory experiments in decision making and economics date back more than thirty years (e.g .• Allais. 1953; Davidson. Suppes. and Siegel. 1957; Flood. 1958; Friedman. 1%3; Kalisch. Milnor. Nash. and Nering. 1954; Lieberman. 1%0; Mosteller and Nogee. 1951; Rapoport. Chammah. Dwyer. and Gyr. I %2; Siegel and Fouraker. I %0; Stone. 1958). However. only in the last ten or fifteen years has laboratory experimentation in economics started its steady transformation from an occasional curiosity into a regular means for investigating various economic phenomena and examining the role of economic institutions. Groups of researchers in the USA and abroad have used experimental methods with increasing sophistication to attack economic problems that arise in individual decision making under risk. two-person bargaining.
Publisher: Springer Science & Business Media
ISBN: 9400919921
Category : Business & Economics
Languages : en
Pages : 442
Book Description
This book is about the interplay of theory and experimentation on group decision making in economics. The theories that the book subjects to experimental testing mostly come from the theory of games. The decisions investigated in the book mostly concern economic interaction like strict competition. two-person bargaining. and coalition formation. The underlying philosophy of the articles collected in this book is consistent with the opinion of a growing number of economists and psychologists that economic issues cannot be understood fully just by thinking about them. Rather. the interplay between theory and experimentation is critical for the development of economics as an observational science (Smith. 1989). Reports of laboratory experiments in decision making and economics date back more than thirty years (e.g .• Allais. 1953; Davidson. Suppes. and Siegel. 1957; Flood. 1958; Friedman. 1%3; Kalisch. Milnor. Nash. and Nering. 1954; Lieberman. 1%0; Mosteller and Nogee. 1951; Rapoport. Chammah. Dwyer. and Gyr. I %2; Siegel and Fouraker. I %0; Stone. 1958). However. only in the last ten or fifteen years has laboratory experimentation in economics started its steady transformation from an occasional curiosity into a regular means for investigating various economic phenomena and examining the role of economic institutions. Groups of researchers in the USA and abroad have used experimental methods with increasing sophistication to attack economic problems that arise in individual decision making under risk. two-person bargaining.
Behavioral Game Theory
Author: Colin F. Camerer
Publisher: Princeton University Press
ISBN: 1400840880
Category : Business & Economics
Languages : en
Pages : 569
Book Description
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
Publisher: Princeton University Press
ISBN: 1400840880
Category : Business & Economics
Languages : en
Pages : 569
Book Description
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
The Handbook of Experimental Economics
Author: John H. Kagel
Publisher: Princeton University Press
ISBN: 0691213259
Category : Business & Economics
Languages : en
Pages : 742
Book Description
This book, which comprises eight chapters, presents a comprehensive critical survey of the results and methods of laboratory experiments in economics. The first chapter provides an introduction to experimental economics as a whole, with the remaining chapters providing surveys by leading practitioners in areas of economics that have seen a concentration of experiments: public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making. The work aims both to help specialists set an agenda for future research and to provide nonspecialists with a critical review of work completed to date. Its focus is on elucidating the role of experimental studies as a progressive research tool so that wherever possible, emphasis is on series of experiments that build on one another. The contributors to the volume--Colin Camerer, Charles A. Holt, John H. Kagel, John O. Ledyard, Jack Ochs, Alvin E. Roth, and Shyam Sunder--adopt a particular methodological point of view: the way to learn how to design and conduct experiments is to consider how good experiments grow organically out of the issues and hypotheses they are designed to investigate.
Publisher: Princeton University Press
ISBN: 0691213259
Category : Business & Economics
Languages : en
Pages : 742
Book Description
This book, which comprises eight chapters, presents a comprehensive critical survey of the results and methods of laboratory experiments in economics. The first chapter provides an introduction to experimental economics as a whole, with the remaining chapters providing surveys by leading practitioners in areas of economics that have seen a concentration of experiments: public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making. The work aims both to help specialists set an agenda for future research and to provide nonspecialists with a critical review of work completed to date. Its focus is on elucidating the role of experimental studies as a progressive research tool so that wherever possible, emphasis is on series of experiments that build on one another. The contributors to the volume--Colin Camerer, Charles A. Holt, John H. Kagel, John O. Ledyard, Jack Ochs, Alvin E. Roth, and Shyam Sunder--adopt a particular methodological point of view: the way to learn how to design and conduct experiments is to consider how good experiments grow organically out of the issues and hypotheses they are designed to investigate.
Experimental Economics
Author: Nicolas Jacquemet
Publisher: Cambridge University Press
ISBN: 1108660495
Category : Business & Economics
Languages : en
Pages : 475
Book Description
Over the past two decades, experimental economics has moved from a fringe activity to become a standard tool for empirical research. With experimental economics now regarded as part of the basic tool-kit for applied economics, this book demonstrates how controlled experiments can be a useful in providing evidence relevant to economic research. Professors Jacquemet and L'Haridon take the standard model in applied econometrics as a basis to the methodology of controlled experiments. Methodological discussions are illustrated with standard experimental results. This book provides future experimental practitioners with the means to construct experiments that fit their research question, and new comers with an understanding of the strengths and weaknesses of controlled experiments. Graduate students and academic researchers working in the field of experimental economics will be able to learn how to undertake, understand and criticise empirical research based on lab experiments, and refer to specific experiments, results or designs completed with case study applications.
Publisher: Cambridge University Press
ISBN: 1108660495
Category : Business & Economics
Languages : en
Pages : 475
Book Description
Over the past two decades, experimental economics has moved from a fringe activity to become a standard tool for empirical research. With experimental economics now regarded as part of the basic tool-kit for applied economics, this book demonstrates how controlled experiments can be a useful in providing evidence relevant to economic research. Professors Jacquemet and L'Haridon take the standard model in applied econometrics as a basis to the methodology of controlled experiments. Methodological discussions are illustrated with standard experimental results. This book provides future experimental practitioners with the means to construct experiments that fit their research question, and new comers with an understanding of the strengths and weaknesses of controlled experiments. Graduate students and academic researchers working in the field of experimental economics will be able to learn how to undertake, understand and criticise empirical research based on lab experiments, and refer to specific experiments, results or designs completed with case study applications.
Experimental Economics
Author: Nicholas Bardsley
Publisher: Princeton University Press
ISBN: 0691204055
Category : Business & Economics
Languages : en
Pages : 384
Book Description
Since the 1980s, there has been explosive growth in the use of experimental methods in economics, leading to exciting developments in economic theory and policy. Despite this, the status of experimental economics remains controversial. In Experimental Economics, the authors draw on their experience and expertise in experimental economics, economic theory, the methodology of economics, philosophy of science, and the econometrics of experimental data to offer a balanced and integrated look at the nature and reliability of claims based on experimental research. The authors explore the history of experiments in economics, provide examples of different types of experiments, and show that the growing use of experimental methods is transforming economics into a genuinely empirical science. They explain that progress is being held back by an uncritical acceptance of folk wisdom regarding how experiments should be conducted, a failure to acknowledge that different objectives call for different approaches to experimental design, and a misplaced assumption that principles of good practice in theoretical modeling can be transferred directly to experimental design. Experimental Economics debates how such limitations might be overcome, and will interest practicing experimental economists, nonexperimental economists wanting to interpret experimental research, and philosophers of science concerned with the status of knowledge claims in economics.
Publisher: Princeton University Press
ISBN: 0691204055
Category : Business & Economics
Languages : en
Pages : 384
Book Description
Since the 1980s, there has been explosive growth in the use of experimental methods in economics, leading to exciting developments in economic theory and policy. Despite this, the status of experimental economics remains controversial. In Experimental Economics, the authors draw on their experience and expertise in experimental economics, economic theory, the methodology of economics, philosophy of science, and the econometrics of experimental data to offer a balanced and integrated look at the nature and reliability of claims based on experimental research. The authors explore the history of experiments in economics, provide examples of different types of experiments, and show that the growing use of experimental methods is transforming economics into a genuinely empirical science. They explain that progress is being held back by an uncritical acceptance of folk wisdom regarding how experiments should be conducted, a failure to acknowledge that different objectives call for different approaches to experimental design, and a misplaced assumption that principles of good practice in theoretical modeling can be transferred directly to experimental design. Experimental Economics debates how such limitations might be overcome, and will interest practicing experimental economists, nonexperimental economists wanting to interpret experimental research, and philosophers of science concerned with the status of knowledge claims in economics.