The Language of Game Theory : Putting Epistemics into the Mathematics of Games (World Scientific Series in Economic Theory)

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9789814513432: The Language of Game Theory : Putting Epistemics into the Mathematics of Games (World Scientific Series in Economic Theory)

This volume contains eight papers written by Adam Brandenburger and his co-authors over a period of 25 years. These papers are part of a program to reconstruct game theory in order to make how players reason about a game a central feature of the theory. The program now called epistemic game theory extends the classical definition of a game model to include not only the game matrix or game tree, but also a description of how the players reason about one another (including their reasoning about other players' reasoning). With this richer mathematical framework, it becomes possible to determine the implications of how players reason for how a game is played. Epistemic game theory includes traditional equilibrium-based theory as a special case, but allows for a wide range of non-equilibrium behavior.

Readership: Graduate students and researchers in the fields of game theory, theoretical computer science, mathematical logic and social neuroscience.

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This volume contains eight papers written by Adam Brandenburger and his co-authors over a period of 25 years. These papers are part of a program to reconstruct game theory in order to make what players believe about a game a central feature of the theory. The program now called epistemic game theory extends the classical definition of a game model to include not only the game matrix or game tree, but also what each player believes about how the game will be played, and even higher-order beliefs. With this richer mathematical framework, it becomes possible to determine what different configurations of beliefs among the players imply for how a game is played. Epistemic game theory includes traditional equilibrium-based theory as a special case, but allows for a wide range of non-equilibrium behavior.

About the Author:

Adam Brandenburger is the J P Valles Professor at the NYU Stern School of Business, New York University. He was a professor at Harvard Business School from 1987 to 2002. Adam Brandenburger works in the areas of game theory and, more recently, quantum information, and applies his work in game theory to the area of business strategy. Within game theory, he was one of the pioneers in developing what has come to be called "epistemic game theory" an approach that studies the effect of how players in a game reason about one another (including their reasoning about other players' reasoning) on how the game is played. He also developed (with Harborne Stuart) the concept of a "biform game" a model of strategy as moves that affect the amount of value created, and its division, among the players in a game. His book Co-opetition (with Barry Nalebuff, Doubleday, 1996) applies this idea to business strategy. Recently, he has worked on the implications for game theory of giving players access to quantum rather than classical information resources. Adam Brandenburger is an Associated Faculty Member at the Center for Data Science, New York University, and is currently Vice Dean for Innovation at the NYU Stern School of Business. He received his BA, MPhil, and PhD degrees from the University of Cambridge.

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