Game Theory
Game theory is the study of mathematical models of strategic interaction among rational decision-makers. It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed zero-sum games, in which each participant's gains or losses are exactly balanced by those of the other participants. In the 21st century, game theory applies to a wide range of behavioral relations, and is now an umbrella term for the science of logical decision making in humans, animals, and computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum games …
WikipediaPublications
IMF: International Monetary Fund · 8 November 2024 English
In early 2021, as monetary policy tightening reversed a multi-year trend of Metical depreciation, the exchange rate vis- -vis the US dollar de facto stabilized. This report discusses elements of …
exchange 1 Leaning on terminology from game theory, we here use the term “equilibrium” to describe …
NBER: National Bureau of Economic Research · 7 November 2024 English
We combine societal-level institutional measures from 51 countries between 1996 and 2017 with individual decision-making outcome data from 1,126 laboratory experiments in six meta-analyses to evaluate the effects of within-country …
influence and are influenced by individual behavior. Game theory has been used to describe institutions as self-reinforcing … Princeton University Press. Binmore, K. (2010): “Game Theory and Institutions,” Journal of Comparative Economics …
IfW: Institut für Weltwirtschaft · 4 November 2024 German
could deter Russia by making continued aggression economically unfeasible. The report leverages game theory to highlight the role of credible deterrence and posits that intensified support may incentivize …
NBER: National Bureau of Economic Research · 1 November 2024 English
We argue that deep learning provides a promising avenue for taming the curse of dimensionality in quantitative economics. We begin by exploring the unique challenges posed by solving dynamic equilibrium …
macroeconomics, IO, international economics, game theory, and finance. Economists are interested in the … strategic interactions among the agents (like in game theory), we need to consider those. Once we have the …
NBER: National Bureau of Economic Research · 1 November 2024 English
We propose a theory of the complexity of economic decisions. Leveraging a macroeconomic framework of production functions, we conceptualize the mind as a cognitive economy, where a task's complexity is …
specific subfields of economics, such as automata in game theory and experimental economics (Ru- binstein, 1998; … (2020). Game theory and strategic complexity. Complex Social and Behavioral Systems: Game Theory and Agent-Based …
ORF: Observer Research Foundation · 18 October 2024 English
Introduction Towards the end of the 1999 cult classic film, The Matrix , Neo, after transforming into the all-powerful The One, says, “I can see everything clearly now.” The camera …
Princeton and the RAND Corporation in California.4 Game theory was created in the United States (US) keeping …
ADB: Asian Development Bank · 16 October 2024 English
Competition policy is needed for markets to achieve their welfare-improving potential.
journals, such as Energy, International Journal of Game Theory, Review of Economic Design, Journal of Child …
ADB: Asian Development Bank · 15 October 2024 English
This book analyzes competition policy in Asia and the Pacific through the lens of how it can support and promote economic development in the region.
journals, such as Energy, International Journal of Game Theory, Review of Economic Design, Journal of Child …
Centre for Society and Policy · 10 October 2024 English
Economic and Game theory models in data pricing and theories behind them Durgaprasad C 1 Contents 1 Introduction 3 2 Economic Models for Data Pricing 3 2.1 Demand Analysis. [...] The objective of this …
Economic and Game theory models in data pricing and theories behind them Durgaprasad C 1 Contents 1 Introduction … . . . . . . . . . . . . . . . . . . . . 5 3 Game Theory and Data Pricing 5 3.1 Players and Strategies … landscape quite complex, which is where economic and game theory models come into the picture. This report dives … dives into how principles from economic and game theory inter- sect to produce different strategies for … equilibrium, help businesses decide on prices and how game theory, which examines the strate- gic interactions …
NBER: National Bureau of Economic Research · 10 October 2024 English
Immigration is often blamed for increasing unemployment among local workers. However, standard models, such as the neoclassical model and the Diamond-Mortensen-Pissarides matching model, inherently assume that immigrants are absorbed into …
people always know Nash or other equilibria in game theory, while neglecting the learning or coordination …