Competition: The Birth of a New ScienceWhat do chess-playing computer programs, biological evolution, competitive sports, gambling, alternative voting systems, public auctions, corporate globalization, and class warfare have in common? All are manifestations of a new paradigm in scientific thinking, one that the author calls "the emerging science of competition." Drawing in part on the pioneering work of mathematicians such as John von Neumann, John Nash (of A Beautiful Mind fame), and Robert Axelrod, James Case explores the common game-theoretical strands that tie these seemingly unrelated fields together, showing how each can be better understood in the shared light of the others. Not since James Gleick's bestselling book Chaos brought widespread public attention to the new sciences of chaos and complexity has a general-interest science book served such an eye-opening purpose. Competition will appeal to a wide range of readers, from policy wonks and futurologists to former jocks and other ordinary citizens seeking to make sense of a host of novel—and frequently controversial—issues. |
Contents
Man Versus Machine | 3 |
The Art and Science of Competition | 15 |
Tree Games and Backward Induction | 30 |
Models and Paradigms | 51 |
TwoSided Competition | 71 |
ManySided Competition | 92 |
Competition in the Wild | 115 |
Auctions | 130 |
Competition in Financial Markets | 145 |
Orthodox Economic Thought | 176 |
Economic Competition | 193 |
Heterodox Economic Thought | 243 |
Spontaneous Cooperation | 262 |