Description

As with the previous editions, this fourth edition relies on teaching by example and the Karplus Learning Cycle to convey the ideas of game theory in a way that is approachable, intuitive, and interdisciplinary. Noncooperative equilibrium concepts such as Nash equilibrium, mixed strategy equilibria, and subgame perfect equilibrium are systematically introduced in the first half of the book. Bayesian Nash equilibrium is briefly introduced. The subsequent chapters discuss cooperative solutions with and without side payments, rationalizable strategies and correlated equilibria, and applications to elections, social mechanism design, and larger-scale games. New examples include panic buying, supply-chain shifts in the pandemic, and global warming.

Contents:

Interactive Decisions:
- Conflict, Strategy, and Games
- Some Foundations
Equilibrium in Normal Form Games:
- Dominant Strategies and Social Dilemmas
- Nash Equilibrium
- Games with Two or More Nash Equilibria
- Three-Person Games
- Probability and Game Theory
- Mixed Strategy Nash Equilibria
Sequential and Repeated Play:
- Sequential Games
- Repeated Play
- Indefinitely Repeated Play
Cooperation:
- Cooperative Games in Coalition Function Form
- Cooperative Games Without Coalition Functions
Advanced Topics:
- N-Person Games
- Duopoly Strategies and Prices
- Rationalizable Strategies
- Trembling Hands and Correlated Strategies
- Voting Games
- Social Mechanism Design
- Games, Experiments, and Behavioral Game Theory
- Evolution and Adaptive Learning

Readership: Undergraduates and graduates studying game theory or those interested to know more about game theory.

Key Features:

The very extensive informal examples distinguish this book from most others
New examples include panic buying, supply-chain shifts in the pandemic, and global warming