Playing for Real: A Text on Game Theory

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Oxford University Press, USA, Mar 29, 2007 - Business & Economics - 639 pages
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Game theory makes sense of a wide variety of human interactions, as Ken Binmore amply demonstrates in Playing for Real with a rich range of examples and applications. This new book is a replacement for Binmore's previous game theory textbook, Fun and Games. It is a light-hearted introduction to game theory suitable for advanced undergraduate students or beginning graduate students. It aims to answer three questions. What is game theory? How is game theory applied? Why is game theory right? It is the only book that tackles all three questions seriously without getting heavily mathematical. Topics covered include bargaining theory, imperfect competition, cooperative games, Bayesian decision theory, games of incomplete information, mechanism design, and auction theory. This book is suitable for students from a variety of disciplines, including economics, mathematics, and philosophy. Where necessary, standard topics in all three of these subjects are reviewed for the benefit of students from other disciplines. An important feature of the book is the large number of exercises, for which solutions are available.
 

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Contents

1 Getting Locked In
3
2 Backing Up
39
3 Taking Chances
77
4 Accounting for Tastes
111
5 Planning Ahead
143
6 Mixing Things Up
177
7 Fighting It Out
215
8 Keeping Your Balance
253
13 Keeping Up to Date
383
14 Seeking Refinement
407
15 Knowing What to Believe
431
16 Getting Together
459
17 Cutting a Deal
493
18 Teaming Up
521
19 Just Playing?
543
20 Taking Charge
567

9 Buying Cheap
273
10 Selling Dear
299
11 Repeating Yourself
319
12 Getting the Message
353
21 Going Going Gone
593
Index
631
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About the author (2007)


Ken Binmore is a mathematician-turned-economist who has devoted his life to the theory of games and its applications in economics, evolutionary biology, psychology, and moral philosophy. He is well known for his part in designing the telecom auction that raised $35 billion for the British taxpayer, but his major research contributions are to the theory of bargaining and its testing in the laboratory. He is a Fellow of the British Academy and of the American Academy of Arts and Sciences. He is the author of 12 books and some 90 research papers. He is Emeritus Professor of Economics at University College London.

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