Game theory and behavior:
"An undergraduate game theory text that integrates behavioral economics and applications to other economic subdisciplines"--
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Massachusetts ; London, England
The MIT Press
[2022]
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Summary: | "An undergraduate game theory text that integrates behavioral economics and applications to other economic subdisciplines"-- |
| Physical Description: | xxii, 701 Seiten Illustrationen, Diagramme |
| ISBN: | 9780262047296 |
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Contents Preface xvii Acknowledgments xxi I Introduction to the Theory of Games 1 Games of Strategy 3 What Is Game Theory? 3 Non-cooperative versus Cooperative Game Theory 4 Individual versus Game Theoretic Decision Making 5 An Individual Decision Problem 5 Other People Complicate Things 7 Theory of Mind 8 Thinking Strategically: Reasoning about the Reasoning of Others A Betting Game 9 The Beauty Contest Guessing Game 11 The Prisoner’s Dilemma 12 This Book 15 2 Game Representations 19 The Elements of a Game 19 Background Assumptions 21 Extensive Form Games 23 Normal Form Games 26 Worked Example 30 Strategy Profiles and Payoffs 32 Exercises 33 П Solving Games 3 Dominated Strategies 41 The Logic of Dominance 41 9
vi Contents Strictly Dominated Strategies 42 Weakly Dominated Strategies 44 Example: The Prisoner’s Dilemma 45 Example: The Second-Price Auction 46 How Far Can Dominance Take Us? 49 Iterated Elimination of Dominated Strategies 50 Example 51 Does Order Matter? 52 The Beauty Contest 53 The Traveler’s Dilemma 55 Behavior in Games: Playing Dominated Strategies 56 Playing Dominated Strategies 57 Evidence-Based Adaptations of the Standard Model Exercises 61 58 4 Equilibrium 65 Zero-Sum Games without Dominance 66 Cake Cutting 67 Solving Games Using the Maximin/Minimax Approach 67 Maximin: Maximizing Your Minimum Possible Payoffs 68 Minimax: Minimizing Your Opponent’s Maximum Possible Payoffs 69 The Solution to Zero-Sum Games: Maximin Playing against Minimax 70 Worked Examples 71 Do the Maximin and Minimax Payoffs Always Correspond? 72 General-Sum Games and the Collapse of the Minimax Approach 73 Nash’s Contribution 74 Best Responding 75 Nash Equilibrium: Mutual Best Responses 76 Is the Nash Equilibrium Unique? 77 What Is the Relationship between the Nash Equilibrium and the Minimax Solution? 78 What Is the Relationship between the Nash Equilibrium and Dominance-Solvable Outcomes? 79 Does the Nash Equilibrium Always Exist? 80 Exercises 80 5 Mixed Strategies 85 The Trouble with Perfect Foresight 85 When Best Responding Involves Risk 88 Expected Payoffs 88 Randomizing Requires Indifference 90
Contents Mixed-Strategy Nash Equilibrium 92 Solving for Mixed-Strategy Nash Equilibria 93 The Princess Bride Game 94 Stag Hunt: A Game with Pure- and Mixed-Strategy Nash Equilibria Mixing over Multiple Pure Strategies 96 Best Responding, Dominated Strategies, and Rationalizability 97 Behavior in Games 100 Playing Mixed-up Strategies 100 Evidence-Based Adaptations of the Standard Model 103 Exercises 104 6 7 Equilibrium in Nonmatrix Games 107 Nonmatrix Games and Their Solutions 107 Demanding an Infinitely Divisible Cake 108 The Bertrand Pricing Game 110 The Bertrand Game with a Large Strategy Set 111 The Bertrand Game with a Continuous Strategy Set 112 Expanding the Strategy Set in the Traveler’s Dilemma 113 Finding Best Response Functions Using Calculus 114 The Cournot Duopoly 117 «-Player Games with Discrete Strategies 119 The Volunteer’s Dilemma 121 И-Player Games with Continuous Strategies 123 The n-Player Cournot Oligopoly 123 Application: The Tullock Contest 124 Behavior in Games: Do Travelers Think of a Lost Bag as a Dilemma? Exercises 132 Equilibrium Selection 137 Payoff-Based Selection Criteria 140 Focal Points 144 Forward Induction 145 Correlated Equilibrium 145 Behavior in Games: Equilibrium Selection in Coordination Games Exercises 154 III Analyzing Sequential-Move Games 8 Subgame Perfection 161 Nonsensical Nash Equilibria in Sequential Games The Martian Game 162 161 125 148 94 vii
viii Contents Clean Your Room or Die 164 Subgame Perfect Nash Equilibria 165 Solving for Subgame Perfect Nash Equilibria Using Backward Induction Backward Inducting 167 Centipede Game 168 Hit IS 169 Continuous Games 169 Example: Stackelberg Competition 171 Games of Imperfect Information 171 Subgames 172 Example with Multiple Subgame Perfect Nash Equilibria 173 Behavior in Games 174 Playing Incredible Strategies 174 Evidence-Based Adaptations of the Standard Model 176 Exercises 178 9 Finitely Repeated Games 183 Definitions 184 Finitely Repeated Games with a Single Stage Equilibrium 185 Finitely Repeated Games with Multiple Stage Equilibria 188 Behavior in Games—Playing (Un?)ravelled Strategies 193 Exercises 200 10 Infinitely Repeated Games 205 Discounted Utility 206 Equilibria in Infinitely Repeated Games 209 Subgame Perfection and the One-Stage Deviation Principle 212 The Folk Theorem 214 Behavior in Games—Playing “Anything Goes” Strategies 216 Exercises 220 ГѴ Incomplete Information 11 Simultaneous Games of Incomplete Information 225 The Conditional Cooperator’s Dilemma 226 Harsanyi Transformation 227 Bayesian Games 228 Solving for Bayesian Nash Equilibria 229 Going Hunting with a Flatlander 232 Continuous Strategies 234 The Acquiring a Company Game and the Market for Lemons 236 166
Contents Behavior in Games 237 Failures of Contingent Thinking 237 Evidence-Based Adaptations of the Standard Model Will Information Be Revealed? 240 Exercises 241 238 12 Signaling: Sequential Games of Incomplete Information 245 Sequential Games of Incomplete Information 246 Updating Beliefs 249 Bayes’ Rule 249 Belief Updating in Sequential Games 251 Perfect Bayesian Equilibrium 254 Finding Perfect Bayesian Equilibria in Costly Signaling Games 255 Job Market Signaling 256 The Beer-Quiche Game 261 The Meaning of Beer and Quiche 263 Perfect Bayesian Equilibria in Cheap Talk Games 264 Behavior in Games 266 Overcommunicating in Costly Signaling and Cheap Talk Games Evidence-Based Adaptations of the Standard Model 269 Exercises 271 13 Auctions 277 A Typography of Auction Formats 278 Private Value Auction Preliminaries 279 Private Value Auctions with Two Bidders 281 A More General Analysis Is Needed 284 The All-Pay Auction 287 Revenue Equivalence 288 Private Value Auctions with n Bidders 292 Common Value Auctions 294 Behavior in Games—Revenue Nonequivalence? 297 Evidence-Based Adaptations of the Standard Model 301 Exercises 302 V Bargaining and Cooperative Game Theory 14 Non-cooperative Bargaining 307 The Bargaining Problem 308 Agreeing, Disagreeing, and Individually Rational Outcomes The Ultimatum Game 311 308 266 ix
x Contents Alternating Offers 312 Finite Number of Stages 314 Infinite Stages 316 Bargaining in Committees: The Baron-Ferejohn Legislative Bargaining Model Behavior in Games 320 Evidence-Based Adaptations of the Standard Model 323 Exercises 327 319 15 Cooperative Bargaining 331 Cooperative Versus Non-cooperative Bargaining 332 The Nash Bargaining Solution 335 Alternative Solutions to the Cooperative Bargaining Problem 338 Behavior in Games—Which of Nash’s Axioms Seem to Resonate with Bargainers? Evidence-Based Adaptations of the Standard Model 344 Exercises 345 16 Cooperative Game Theory 347 Cooperative Games 348 Coalitions and Values 350 Prisoner’s Dilemma 351 The Merger Game 351 Buyers and Sellers 352 Ride Sharing 352 Distributing Payoffs: The Core 353 Imputation 354 Blocking Coalitions and the Core 354 The Core in the Merger Game 357 Buyers and Sellers: Application to Markets 357 Dividing a Dollar 359 Distributing Payoffs: Shapley Value 359 The Shapley Value When Dividing a Dollar 361 The Shapley Value in the Merger Game 362 The Shapley Value in Competitive Markets 363 Voting Power 363 Cost Sharing 364 Behavior in Games 365 Can We Agree to Disagree? 365 Evidence-Based Adaptations of the Standard Model Exercises 368 366 342
Contents 17 Matching Market Design 371 Matching Markets 373 One-Sided Matching Markets 375 Top Trading Cycle (TTC) Algorithm 375 House Allocation with Squatting Rights 377 Two-Sided Matching 379 Deferred Acceptance Algorithm 380 School Choice 383 School Placement When All Schools Have the Same Priorities 383 Extending the Deferred Acceptance and Top Trading Cycle Algorithms to School Choice 384 Example 387 Behavior in Games 388 Lying to Strategy-Proof Mechanisms 388 Evidence-Based Adaptations of the Standard Model 390 Exercises 392 VI Social Dilemmas 18 Social Dilemmas 397 The Trust Game 398 Social Dilemmas 399 Continuous Social Dilemmas 401 Behavior in Games—Trust, Reciprocity, and Efficiency Exercises 407 403 19 Public Goods 411 The Logic of Public Goods 411 Exogenous Mechanisms to Increase Contributions 414 Endogenous Mechanisms to Increase Contributions 417 Behavior in Games—Contributions to a Public Good 418 Exercises 424 20 Common Pool Resources 427 Common Pool Resources and the Tragedy of the Commons A Static Common Pool Resource Game 430 Efficient Extraction 430 Nash Equilibrium Extraction 431 Does Group Size Matter? 433 A General Model 434 Dynamic Common Pool Resource Games 434 428 xi
xii Contents The Quadratic Production Function as the Steady State of a Dynamic System An Example of a Dynamic Game 435 Probabilistic Destruction of a Resource 437 Governing the Commons 440 Behavior in Games 442 Over-Overextraction 442 Evidence-Based Adaptations of the Standard Model 445 Exercises 448 ѴП Social Choice and Voting 21 Social Choice 453 Determining a Group’s Preference Ranking 454 When There Are Only Two Alternatives 454 Condorcet Winners and Cycles 455 Voting Rules Affect the Outcome 458 Borda Count 459 Instant Runoff Voting 459 Approval Voting 460 Arrow’s Impossibility Theorem 461 Spatial Voting 462 Single-Peaked Preferences 463 Multiple Dimensions and Radial Symmetry 466 Strategic Voting 471 The Problem of the Divided Majority 472 Incentives for Strategic Voting 473 Gibbard-Satterthwaite Theorem 474 Candidate Competition Games 476 The Hotelling Model 476 When Two Candidates Compete for Votes 477 Behavior in Games 480 Voting Sincerely and Not Particularly Chaotically 480 Evidence-Based Adaptations of the Standard Model 484 Exercises 487 22 The Paradox of Voting 491 The Calculus of Voting 491 The Paradox That Ate Rational Choice 492 Noninstrumental Motives 493 Voter Turnout as a Participation Game 494 Pure-Strategy Nash Equilibria in the Participation Game 495 434
Contents Mixed-Strategy Nash Equilibria in the Participation Game 496 Pure-Mixed-Strategy Nash Equilibria 496 A Three-Player “Chicken’s Dilemma” 497 The Equilibrium Conditions for an n֊Player Game 498 The Participation Game with Incomplete Information 500 Behavior in Games 502 Evidence of Noninstrumental Voting: Voting Expressively and to Tell Others 504 Evidence-Based Adaptations of the Standard Model 505 Exercises 508 23 Voting with Private Information 511 Voting to Aggregate Information 512 The Jury Game 513 The Optimal Decision of a Single Juror 514 Voting Strategically against Your Own Evidence 515 Conditioning on Being Pivotal Under Unanimity 516 Conditioning on Being Pivotal Under Majority Rule 516 Bayesian Nash Equilibria: Convicting the Innocent under Unanimity The Swing Voter’s Curse 520 Rational Abstention 521 Voting to Counteract Partisans 523 Costly Information Acquisition and Rational Ignorance 524 Behavior in Games 526 Evidence-Based Adaptations of the Standard Model 527 Exercises 529 VIII Behavioral Extensions of Standard Theory 24 Belief-Based Learning 533 Best Response Dynamics 534 Fictitious Play 537 Behavior in Games—Are Adaptive Beliefs Enough? Exercises 542 25 Evolutionary Game Theory 545 Replicator Dynamics 546 The Evolution of Hawks and Doves 549 Evolution in the Stag Hunt 550 The Stability of Evolutionary Equilibria 552 Evolutionarily Stable Strategies 555 540 518 xiii
xiv Contents Asymmetrie Contests 558 Behavior in Games—Can Evolutionary Dynamics and Imitation Predict Play? Exercises 570 26 Quantal Response Equilibrium 575 Letting Players Make Mistakes 576 Better Responding: Quantal Response Functions 577 Better Responding to Each Other: Quantal Response Equilibrium 580 Better Responding in the Matching Pennies Game 581 Better Responding in Symmetric 2x2 Games 585 Structural Basis of Quantal Response Functions 586 Better Responding in the Volunteer’s Dilemma 587 Extension to Sequential Games: Agent Quantal Response Equilibrium 590 Centipede Game 591 Exercises 593 27 Level-4 Reasoning 597 Level-4 Reasoning 597 Level-к Reasoning and Nash Equilibrium 598 The 11-20 Money Request Game 599 Level-4 Reasoning in Matrix Games 600 Level-4 Reasoning in Guessing Games 602 The Beauty Contest 602 Other Guessing Games 604 Level-4 Reasoning in Sequential Games 606 Level-4 Reasoning in Games with Incomplete Information 609 Incomplete Unraveling of Information about Movie Quality 612 Cognitive Hierarchy: Reasoning about the Reasoning of Others 613 Exercises 616 28 Psychological Game Theory 619 Psychological Games 621 Incorporating Guilt into Games 621 Psychological Equilibria 624 Example: The Bravery Game 625 Psychological Equilibria in the Trust Game with Guilt Aversion Intention-Based Reciprocity 627 Reciprocity in Simultaneous-Move Games 630 Prisoner’s Dilemma 632 Battle of the Sexes 633 626 564
Contents Reciprocity in Sequential Games 635 Sequential Reciprocity in the Prisoner’s Dilemma 636 Sequential Reciprocity in the Mini-Ultimatum Game 638 The Hold-up Problem with Vengeful Players 640 Exercises 642 Appendix 645 Set Notation 645 Optimizing a Function of a Single Variable 646 Optimizing a Function with Variables out of the Decision Maker’s Control Integration 652 Probability 653 Expected Value 655 Expected Payoff: A Model of Choice under Risk 656 Choice over Time 657 References Index 679 661 649 xv |
| adam_txt |
Contents Preface xvii Acknowledgments xxi I Introduction to the Theory of Games 1 Games of Strategy 3 What Is Game Theory? 3 Non-cooperative versus Cooperative Game Theory 4 Individual versus Game Theoretic Decision Making 5 An Individual Decision Problem 5 Other People Complicate Things 7 Theory of Mind 8 Thinking Strategically: Reasoning about the Reasoning of Others A Betting Game 9 The Beauty Contest Guessing Game 11 The Prisoner’s Dilemma 12 This Book 15 2 Game Representations 19 The Elements of a Game 19 Background Assumptions 21 Extensive Form Games 23 Normal Form Games 26 Worked Example 30 Strategy Profiles and Payoffs 32 Exercises 33 П Solving Games 3 Dominated Strategies 41 The Logic of Dominance 41 9
vi Contents Strictly Dominated Strategies 42 Weakly Dominated Strategies 44 Example: The Prisoner’s Dilemma 45 Example: The Second-Price Auction 46 How Far Can Dominance Take Us? 49 Iterated Elimination of Dominated Strategies 50 Example 51 Does Order Matter? 52 The Beauty Contest 53 The Traveler’s Dilemma 55 Behavior in Games: Playing Dominated Strategies 56 Playing Dominated Strategies 57 Evidence-Based Adaptations of the Standard Model Exercises 61 58 4 Equilibrium 65 Zero-Sum Games without Dominance 66 Cake Cutting 67 Solving Games Using the Maximin/Minimax Approach 67 Maximin: Maximizing Your Minimum Possible Payoffs 68 Minimax: Minimizing Your Opponent’s Maximum Possible Payoffs 69 The Solution to Zero-Sum Games: Maximin Playing against Minimax 70 Worked Examples 71 Do the Maximin and Minimax Payoffs Always Correspond? 72 General-Sum Games and the Collapse of the Minimax Approach 73 Nash’s Contribution 74 Best Responding 75 Nash Equilibrium: Mutual Best Responses 76 Is the Nash Equilibrium Unique? 77 What Is the Relationship between the Nash Equilibrium and the Minimax Solution? 78 What Is the Relationship between the Nash Equilibrium and Dominance-Solvable Outcomes? 79 Does the Nash Equilibrium Always Exist? 80 Exercises 80 5 Mixed Strategies 85 The Trouble with Perfect Foresight 85 When Best Responding Involves Risk 88 Expected Payoffs 88 Randomizing Requires Indifference 90
Contents Mixed-Strategy Nash Equilibrium 92 Solving for Mixed-Strategy Nash Equilibria 93 The Princess Bride Game 94 Stag Hunt: A Game with Pure- and Mixed-Strategy Nash Equilibria Mixing over Multiple Pure Strategies 96 Best Responding, Dominated Strategies, and Rationalizability 97 Behavior in Games 100 Playing Mixed-up Strategies 100 Evidence-Based Adaptations of the Standard Model 103 Exercises 104 6 7 Equilibrium in Nonmatrix Games 107 Nonmatrix Games and Their Solutions 107 Demanding an Infinitely Divisible Cake 108 The Bertrand Pricing Game 110 The Bertrand Game with a Large Strategy Set 111 The Bertrand Game with a Continuous Strategy Set 112 Expanding the Strategy Set in the Traveler’s Dilemma 113 Finding Best Response Functions Using Calculus 114 The Cournot Duopoly 117 «-Player Games with Discrete Strategies 119 The Volunteer’s Dilemma 121 И-Player Games with Continuous Strategies 123 The n-Player Cournot Oligopoly 123 Application: The Tullock Contest 124 Behavior in Games: Do Travelers Think of a Lost Bag as a Dilemma? Exercises 132 Equilibrium Selection 137 Payoff-Based Selection Criteria 140 Focal Points 144 Forward Induction 145 Correlated Equilibrium 145 Behavior in Games: Equilibrium Selection in Coordination Games Exercises 154 III Analyzing Sequential-Move Games 8 Subgame Perfection 161 Nonsensical Nash Equilibria in Sequential Games The Martian Game 162 161 125 148 94 vii
viii Contents Clean Your Room or Die 164 Subgame Perfect Nash Equilibria 165 Solving for Subgame Perfect Nash Equilibria Using Backward Induction Backward Inducting 167 Centipede Game 168 Hit IS 169 Continuous Games 169 Example: Stackelberg Competition 171 Games of Imperfect Information 171 Subgames 172 Example with Multiple Subgame Perfect Nash Equilibria 173 Behavior in Games 174 Playing Incredible Strategies 174 Evidence-Based Adaptations of the Standard Model 176 Exercises 178 9 Finitely Repeated Games 183 Definitions 184 Finitely Repeated Games with a Single Stage Equilibrium 185 Finitely Repeated Games with Multiple Stage Equilibria 188 Behavior in Games—Playing (Un?)ravelled Strategies 193 Exercises 200 10 Infinitely Repeated Games 205 Discounted Utility 206 Equilibria in Infinitely Repeated Games 209 Subgame Perfection and the One-Stage Deviation Principle 212 The Folk Theorem 214 Behavior in Games—Playing “Anything Goes” Strategies 216 Exercises 220 ГѴ Incomplete Information 11 Simultaneous Games of Incomplete Information 225 The Conditional Cooperator’s Dilemma 226 Harsanyi Transformation 227 Bayesian Games 228 Solving for Bayesian Nash Equilibria 229 Going Hunting with a Flatlander 232 Continuous Strategies 234 The Acquiring a Company Game and the Market for Lemons 236 166
Contents Behavior in Games 237 Failures of Contingent Thinking 237 Evidence-Based Adaptations of the Standard Model Will Information Be Revealed? 240 Exercises 241 238 12 Signaling: Sequential Games of Incomplete Information 245 Sequential Games of Incomplete Information 246 Updating Beliefs 249 Bayes’ Rule 249 Belief Updating in Sequential Games 251 Perfect Bayesian Equilibrium 254 Finding Perfect Bayesian Equilibria in Costly Signaling Games 255 Job Market Signaling 256 The Beer-Quiche Game 261 The Meaning of Beer and Quiche 263 Perfect Bayesian Equilibria in Cheap Talk Games 264 Behavior in Games 266 Overcommunicating in Costly Signaling and Cheap Talk Games Evidence-Based Adaptations of the Standard Model 269 Exercises 271 13 Auctions 277 A Typography of Auction Formats 278 Private Value Auction Preliminaries 279 Private Value Auctions with Two Bidders 281 A More General Analysis Is Needed 284 The All-Pay Auction 287 Revenue Equivalence 288 Private Value Auctions with n Bidders 292 Common Value Auctions 294 Behavior in Games—Revenue Nonequivalence? 297 Evidence-Based Adaptations of the Standard Model 301 Exercises 302 V Bargaining and Cooperative Game Theory 14 Non-cooperative Bargaining 307 The Bargaining Problem 308 Agreeing, Disagreeing, and Individually Rational Outcomes The Ultimatum Game 311 308 266 ix
x Contents Alternating Offers 312 Finite Number of Stages 314 Infinite Stages 316 Bargaining in Committees: The Baron-Ferejohn Legislative Bargaining Model Behavior in Games 320 Evidence-Based Adaptations of the Standard Model 323 Exercises 327 319 15 Cooperative Bargaining 331 Cooperative Versus Non-cooperative Bargaining 332 The Nash Bargaining Solution 335 Alternative Solutions to the Cooperative Bargaining Problem 338 Behavior in Games—Which of Nash’s Axioms Seem to Resonate with Bargainers? Evidence-Based Adaptations of the Standard Model 344 Exercises 345 16 Cooperative Game Theory 347 Cooperative Games 348 Coalitions and Values 350 Prisoner’s Dilemma 351 The Merger Game 351 Buyers and Sellers 352 Ride Sharing 352 Distributing Payoffs: The Core 353 Imputation 354 Blocking Coalitions and the Core 354 The Core in the Merger Game 357 Buyers and Sellers: Application to Markets 357 Dividing a Dollar 359 Distributing Payoffs: Shapley Value 359 The Shapley Value When Dividing a Dollar 361 The Shapley Value in the Merger Game 362 The Shapley Value in Competitive Markets 363 Voting Power 363 Cost Sharing 364 Behavior in Games 365 Can We Agree to Disagree? 365 Evidence-Based Adaptations of the Standard Model Exercises 368 366 342
Contents 17 Matching Market Design 371 Matching Markets 373 One-Sided Matching Markets 375 Top Trading Cycle (TTC) Algorithm 375 House Allocation with Squatting Rights 377 Two-Sided Matching 379 Deferred Acceptance Algorithm 380 School Choice 383 School Placement When All Schools Have the Same Priorities 383 Extending the Deferred Acceptance and Top Trading Cycle Algorithms to School Choice 384 Example 387 Behavior in Games 388 Lying to Strategy-Proof Mechanisms 388 Evidence-Based Adaptations of the Standard Model 390 Exercises 392 VI Social Dilemmas 18 Social Dilemmas 397 The Trust Game 398 Social Dilemmas 399 Continuous Social Dilemmas 401 Behavior in Games—Trust, Reciprocity, and Efficiency Exercises 407 403 19 Public Goods 411 The Logic of Public Goods 411 Exogenous Mechanisms to Increase Contributions 414 Endogenous Mechanisms to Increase Contributions 417 Behavior in Games—Contributions to a Public Good 418 Exercises 424 20 Common Pool Resources 427 Common Pool Resources and the Tragedy of the Commons A Static Common Pool Resource Game 430 Efficient Extraction 430 Nash Equilibrium Extraction 431 Does Group Size Matter? 433 A General Model 434 Dynamic Common Pool Resource Games 434 428 xi
xii Contents The Quadratic Production Function as the Steady State of a Dynamic System An Example of a Dynamic Game 435 Probabilistic Destruction of a Resource 437 Governing the Commons 440 Behavior in Games 442 Over-Overextraction 442 Evidence-Based Adaptations of the Standard Model 445 Exercises 448 ѴП Social Choice and Voting 21 Social Choice 453 Determining a Group’s Preference Ranking 454 When There Are Only Two Alternatives 454 Condorcet Winners and Cycles 455 Voting Rules Affect the Outcome 458 Borda Count 459 Instant Runoff Voting 459 Approval Voting 460 Arrow’s Impossibility Theorem 461 Spatial Voting 462 Single-Peaked Preferences 463 Multiple Dimensions and Radial Symmetry 466 Strategic Voting 471 The Problem of the Divided Majority 472 Incentives for Strategic Voting 473 Gibbard-Satterthwaite Theorem 474 Candidate Competition Games 476 The Hotelling Model 476 When Two Candidates Compete for Votes 477 Behavior in Games 480 Voting Sincerely and Not Particularly Chaotically 480 Evidence-Based Adaptations of the Standard Model 484 Exercises 487 22 The Paradox of Voting 491 The Calculus of Voting 491 The Paradox That Ate Rational Choice 492 Noninstrumental Motives 493 Voter Turnout as a Participation Game 494 Pure-Strategy Nash Equilibria in the Participation Game 495 434
Contents Mixed-Strategy Nash Equilibria in the Participation Game 496 Pure-Mixed-Strategy Nash Equilibria 496 A Three-Player “Chicken’s Dilemma” 497 The Equilibrium Conditions for an n֊Player Game 498 The Participation Game with Incomplete Information 500 Behavior in Games 502 Evidence of Noninstrumental Voting: Voting Expressively and to Tell Others 504 Evidence-Based Adaptations of the Standard Model 505 Exercises 508 23 Voting with Private Information 511 Voting to Aggregate Information 512 The Jury Game 513 The Optimal Decision of a Single Juror 514 Voting Strategically against Your Own Evidence 515 Conditioning on Being Pivotal Under Unanimity 516 Conditioning on Being Pivotal Under Majority Rule 516 Bayesian Nash Equilibria: Convicting the Innocent under Unanimity The Swing Voter’s Curse 520 Rational Abstention 521 Voting to Counteract Partisans 523 Costly Information Acquisition and Rational Ignorance 524 Behavior in Games 526 Evidence-Based Adaptations of the Standard Model 527 Exercises 529 VIII Behavioral Extensions of Standard Theory 24 Belief-Based Learning 533 Best Response Dynamics 534 Fictitious Play 537 Behavior in Games—Are Adaptive Beliefs Enough? Exercises 542 25 Evolutionary Game Theory 545 Replicator Dynamics 546 The Evolution of Hawks and Doves 549 Evolution in the Stag Hunt 550 The Stability of Evolutionary Equilibria 552 Evolutionarily Stable Strategies 555 540 518 xiii
xiv Contents Asymmetrie Contests 558 Behavior in Games—Can Evolutionary Dynamics and Imitation Predict Play? Exercises 570 26 Quantal Response Equilibrium 575 Letting Players Make Mistakes 576 Better Responding: Quantal Response Functions 577 Better Responding to Each Other: Quantal Response Equilibrium 580 Better Responding in the Matching Pennies Game 581 Better Responding in Symmetric 2x2 Games 585 Structural Basis of Quantal Response Functions 586 Better Responding in the Volunteer’s Dilemma 587 Extension to Sequential Games: Agent Quantal Response Equilibrium 590 Centipede Game 591 Exercises 593 27 Level-4 Reasoning 597 Level-4 Reasoning 597 Level-к Reasoning and Nash Equilibrium 598 The 11-20 Money Request Game 599 Level-4 Reasoning in Matrix Games 600 Level-4 Reasoning in Guessing Games 602 The Beauty Contest 602 Other Guessing Games 604 Level-4 Reasoning in Sequential Games 606 Level-4 Reasoning in Games with Incomplete Information 609 Incomplete Unraveling of Information about Movie Quality 612 Cognitive Hierarchy: Reasoning about the Reasoning of Others 613 Exercises 616 28 Psychological Game Theory 619 Psychological Games 621 Incorporating Guilt into Games 621 Psychological Equilibria 624 Example: The Bravery Game 625 Psychological Equilibria in the Trust Game with Guilt Aversion Intention-Based Reciprocity 627 Reciprocity in Simultaneous-Move Games 630 Prisoner’s Dilemma 632 Battle of the Sexes 633 626 564
Contents Reciprocity in Sequential Games 635 Sequential Reciprocity in the Prisoner’s Dilemma 636 Sequential Reciprocity in the Mini-Ultimatum Game 638 The Hold-up Problem with Vengeful Players 640 Exercises 642 Appendix 645 Set Notation 645 Optimizing a Function of a Single Variable 646 Optimizing a Function with Variables out of the Decision Maker’s Control Integration 652 Probability 653 Expected Value 655 Expected Payoff: A Model of Choice under Risk 656 Choice over Time 657 References Index 679 661 649 xv |
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| id | DE-604.BV048536577 |
| illustrated | Illustrated |
| index_date | 2024-07-03T20:54:02Z |
| indexdate | 2024-07-20T04:54:18Z |
| institution | BVB |
| isbn | 9780262047296 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033913183 |
| oclc_num | 1353584774 |
| open_access_boolean | |
| owner | DE-11 DE-739 DE-355 DE-BY-UBR DE-706 |
| owner_facet | DE-11 DE-739 DE-355 DE-BY-UBR DE-706 |
| physical | xxii, 701 Seiten Illustrationen, Diagramme |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | The MIT Press |
| record_format | marc |
| spelling | Carpenter, Jeffrey P. Verfasser (DE-588)133187632 aut Game theory and behavior Jeffrey Carpenter and Andrea Robbett Cambridge, Massachusetts ; London, England The MIT Press [2022] © 2022 xxii, 701 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier "An undergraduate game theory text that integrates behavioral economics and applications to other economic subdisciplines"-- Spieltheorie (DE-588)4056243-8 gnd rswk-swf Evolutionäre Spieltheorie (DE-588)4732282-2 gnd rswk-swf Mechanismus-Design-Theorie (DE-588)7643554-4 gnd rswk-swf Wirtschaftliches Verhalten (DE-588)4197971-0 gnd rswk-swf Entscheidungstheorie (DE-588)4138606-1 gnd rswk-swf Verhalten (DE-588)4062860-7 gnd rswk-swf Game theory Economics / Psychological aspects Human behavior Game Theory Behavior Théorie des jeux Économie politique / Aspect psychologique Comportement humain human behavior Entscheidungstheorie (DE-588)4138606-1 s Evolutionäre Spieltheorie (DE-588)4732282-2 s Mechanismus-Design-Theorie (DE-588)7643554-4 s Spieltheorie (DE-588)4056243-8 s Verhalten (DE-588)4062860-7 s Wirtschaftliches Verhalten (DE-588)4197971-0 s DE-604 Robbett, Andrea Verfasser (DE-588)1066957630 aut Erscheint auch als Online-Ausgabe 978-0-262-37125-4 Digitalisierung UB Passau - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033913183&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Carpenter, Jeffrey P. Robbett, Andrea Game theory and behavior Spieltheorie (DE-588)4056243-8 gnd Evolutionäre Spieltheorie (DE-588)4732282-2 gnd Mechanismus-Design-Theorie (DE-588)7643554-4 gnd Wirtschaftliches Verhalten (DE-588)4197971-0 gnd Entscheidungstheorie (DE-588)4138606-1 gnd Verhalten (DE-588)4062860-7 gnd |
| subject_GND | (DE-588)4056243-8 (DE-588)4732282-2 (DE-588)7643554-4 (DE-588)4197971-0 (DE-588)4138606-1 (DE-588)4062860-7 |
| title | Game theory and behavior |
| title_auth | Game theory and behavior |
| title_exact_search | Game theory and behavior |
| title_exact_search_txtP | Game theory and behavior |
| title_full | Game theory and behavior Jeffrey Carpenter and Andrea Robbett |
| title_fullStr | Game theory and behavior Jeffrey Carpenter and Andrea Robbett |
| title_full_unstemmed | Game theory and behavior Jeffrey Carpenter and Andrea Robbett |
| title_short | Game theory and behavior |
| title_sort | game theory and behavior |
| topic | Spieltheorie (DE-588)4056243-8 gnd Evolutionäre Spieltheorie (DE-588)4732282-2 gnd Mechanismus-Design-Theorie (DE-588)7643554-4 gnd Wirtschaftliches Verhalten (DE-588)4197971-0 gnd Entscheidungstheorie (DE-588)4138606-1 gnd Verhalten (DE-588)4062860-7 gnd |
| topic_facet | Spieltheorie Evolutionäre Spieltheorie Mechanismus-Design-Theorie Wirtschaftliches Verhalten Entscheidungstheorie Verhalten |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033913183&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT carpenterjeffreyp gametheoryandbehavior AT robbettandrea gametheoryandbehavior |