Game Theory and Mutual Misunderstanding: Scientific Dialogues in Five Acts

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Springer Science & Business Media, 2005 - Business & Economics - 247 pages
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This book consists of five acts and two interludes, which are all written as dialogues between three main characters and other supporting characters. Each act discusses the epistemological, institutional and methodological foundations of game theory and economics, while using various stories and examples. A featured aspect of those discussions is that many forms of mutual misunderstanding are involved in social situations as well as in those fields themselves. One Japanese traditional comic story called the Konnyaku Mondo is representative and gives hints of how our thought is constrained by incorrect beliefs. Each dialogue critically examines extant theories and common misunderstanding in game theory and economics in order to find possible future developments of those fields.
  

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Contents

The reversal of particularity and generality in economics
1
Scene 2 Paradox
10
Scene 3 Generalities in economics and game theory
20
Scene 4 The reversal of particularity and generality
27
Konnyaku Mondo and Game Theory
39
Scene 2 The Prisoners Dilemma and the Battle of the Sexes
49
Scene 3 Games with incomplete information
58
Scene 4 Rashomon
69
Decision making and Nash equilibrium
139
Scene 2 Interpretations of the Nash equilibrium
150
Scene 3 Infinite regress and common knowledge
161
Scene 4 Mixed strategies
174
Scene 5 Equilibrium as a stationary state
189
The individual and society
195
Scene 2 Ism
207
Scene 3 Connections between the individual and society
217

The market economy in a rage
79
Scene 2 Market failure and widespread externalities
88
Scene 3 Epistemological consideration of perfect competition
99
Scene 4 Institutional consideration of perfect competition
110
Interlude 1 Clouds hanging over economics and game theory
121
Interlude 2 Game theory in a crisis
127
Scene 4 Internal mental structure of the individual
226
Epilogue
241
Acknowledgements
245
The author
247
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About the author (2005)

Mamoru Kaneko is professor at the Institute of Policy and Planning Sciences of the University of Tsukuba.

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