Game Theory: A Nontechnical Introduction [Dover Books on Mathematics]

Game Theory: A Nontechnical Introduction (Dover Books on Mathematics)

by Morton D. Davis

4.4 out of 5

Language	:	English
File size	:	3144 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Print length	:	276 pages
Lending	:	Enabled

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Game theory is the study of how individuals make decisions in situations where their choices affect the outcomes of others. It is a powerful tool that can be used to analyze a wide range of human interactions, from economic markets to political negotiations.

This book provides a nontechnical to game theory. It is written for students with no prior background in mathematics or economics. The book covers the basic concepts of game theory, including:

• Players
• Strategies
• Payoffs
• Nash equilibrium

The book also provides a number of examples of how game theory can be used to analyze real-world situations. These examples include:

• The prisoner's dilemma
• The tragedy of the commons
• The arms race
• The bargaining problem

Game theory is a complex and fascinating subject. This book provides a clear and concise to the basic concepts of game theory. It is an essential resource for anyone who wants to learn more about this important field.

Chapter 1:

This chapter provides an overview of game theory. It discusses the basic concepts of game theory, including:

• Players
• Strategies
• Payoffs
• Nash equilibrium

The chapter also provides a number of examples of how game theory can be used to analyze real-world situations.

Chapter 2: The Prisoner's Dilemma

The prisoner's dilemma is a classic example of a game theory problem. In this game, two players are arrested for a crime. Each player is given the choice of confessing or not confessing. If both players confess, they will each receive a sentence of five years in prison. If one player confesses and the other does not, the confessing player will receive a sentence of one year in prison and the non-confessing player will receive a sentence of ten years in prison. If neither player confesses, they will each receive a sentence of three years in prison.

The prisoner's dilemma is a difficult game to solve. The best strategy for each player is to confess, regardless of what the other player does. However, if both players confess, they will both be worse off than if they had both cooperated and not confessed.

Chapter 3: The Tragedy of the Commons

The tragedy of the commons is a problem that occurs when a common resource is overused by individuals. In this problem, each individual has an incentive to use the resource as much as possible, even if it means that the resource will be depleted in the future.

The tragedy of the commons is a difficult problem to solve. There is no easy way to prevent individuals from overusing a common resource. However, there are a number of policies that can be implemented to reduce the problem, such as privatization, regulation, and education.

Chapter 4: The Arms Race

The arms race is a situation in which two or more countries compete to build up their military forces. This can lead to a dangerous spiral of escalation, as each country tries to outdo the other.

The arms race is a difficult problem to solve. There is no easy way to convince countries to reduce their military spending. However, there are a number of policies that can be implemented to reduce the risk of war, such as arms control agreements and confidence-building measures.

Chapter 5: The Bargaining Problem

The bargaining problem is a situation in which two or more parties are trying to reach an agreement on a division of resources. This can be a difficult problem to solve, as each party has its own interests and goals.

There are a number of different strategies that can be used in bargaining. Some of the most common strategies include:

• Tit-for-tat
• Ultimatum game
• Nash bargaining solution

The choice of bargaining strategy will depend on a number of factors, such as the power of the parties involved and the nature of the resources being divided.

Game theory is a powerful tool that can be used to analyze a wide range of human interactions. It can help us to understand how people make decisions in complex situations and how these decisions affect the outcomes of

Game Theory: A Nontechnical Introduction (Dover Books on Mathematics)

by Morton D. Davis

4.4 out of 5

Language	:	English
File size	:	3144 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Print length	:	276 pages
Lending	:	Enabled

FREE