Games and Decision Making - Hardcover

Aliprantis, Charalambos D.; Chakrabarti, Subir Kumar

Hardcover

ISBN 10: 0195126092 ISBN 13: 9780195126099

Publisher: Oxford University Press, 1999

Synopsis

Games and Decision Making is a self-contained introduction to basic issues and techniques of modern decision theory. From classical optimization to modern game theory, the authors show the increasing importance of mathematical knowledge for sustained competitive advantage in decision making. Students need only a basic understanding of elementary calculus and probability to use the book effectively.
Through an imaginative selection of topics, the authors treat decision and game theory as part of one body of knowledge. They move from problems involving the individual decision-maker to progressively more complex problems such as sequential rationality, auctions, and bargaining. By building each chapter on material presented earlier, the authors avoid unnecessary confusion.
The first chapter introduces optimization theory with a single decision-maker by using problems from finance and management to illustrate optimization techniques. Chapter two introduces the fundamentals of game theory by developing the theory of strategic form games and their solutions. The authors also present applications from a variety of sources including markets, voting, auctions, and resource extraction. Chapter three is devoted to sequential decision making, followed by two chapters on sequential games. The final chapters cover auctions and bargaining.
Successfully class tested in a management science course at the Krannert School of Management, Games and Decision Making is an essential text for professors who need to have their students take a serious look at decision theory, whether at the undergraduate or masters level.

About this title

About the Author:

Charalambos D. Aliprantis is Professor at the Krannert School of Management at Purdue University.

Review:

"A superb integration of game theory into individual decision theory. Accessible to non-mathematicians yet sufficiently rigorous."--Felipe Bello, Universidad de Las Americas-Puebla, Mexico

"Games and Decision Making is the best treatment of applying game theory to economics and business decisions. Many of today's complex, multi-layered choices simply cannot be understood without these tools. The text is an outstanding work, not to be missed by people for whom decisions
matter."--Jon King President, Commonwealth Consulting, Inc.

"Game theory is an effective tool that helps a businessman determine his options and the effect of taking a certain course of action. Games and Decision Making by Charalambos D. Aliprantis and Subir K. Chakrabarti is an excellent and important work that explains game theory in a practical and
meaningful way, in addition to incorporating new findings and innovations."--Bruce A. Cordingley President and CEO, Pedcor Bancorp

"This book fills the need for a calculus based "decision and game theory" book that is appropriate for undergraduates. The material is well motivated, carefully described without being overwhelming, and surprisingly complete. I recommend 1he book to you."--Donald G. Saari, Pancoe Chair of
Mathematics, Northwestern University

"This is a remarkably well-written book. The clarity, rigor, and elegance that it shows is obvious in every chapter -- it is a pleasure to read. I would recommend the book for strategy M.B.A. classes and for undergraduate decision making classes."--Nicholas Yanellis, Department of Economics,
University of Illinois, Urbana-Champaign

"Games and Decision Making is excellent. It will be useful to instructors who teach advanced undergraduate and graduate courses in decision making and game theory in economics departments, business schools, and may also be of use in undergraduate mathematics classes."--Myrna H. Wooders,
Department of Economics, University of Toronto, Department of Economics, University of Warwick

About this edition

• Publisher: Oxford University Press
• Publication date: 1999
• ISBN 10: 0195126092
• ISBN 13: 9780195126099
• Binding: Hardcover
• Number of pages: 272