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10 de may. de 2024 · In their book The Theory of Games and Economic Behavior (1944), von Neumann and Morgenstern asserted that the mathematics developed for the physical sciences, which describes the workings of a disinterested nature, was a poor model for economics.
Hace 1 día · The developments in economics were later applied to biology largely by John Maynard Smith in his 1982 book Evolution and the Theory of Games. In addition to being used to describe, predict, and explain behavior, game theory has also been used to develop theories of ethical or normative behavior and to prescribe such behavior.
14 de may. de 2024 · Game theory is a branch of mathematics that explores how people make decisions and compares them with mathematical models. Read on to learn more about game theory, including examples and its applications in law, economics, software, and more.
23 de may. de 2024 · We study the behavior of a firm that consistently maximizes a misspecified profit function as the misspecification error remains undetected in equilibrium. Our framework encompasses a price-taking firm and a cost-taking firm, which respectively take the unit price and the unit cost as given.
28 de may. de 2024 · Games and Economic Behavior (GEB) is a general-interest journal devoted to the advancement of game theory and its applications. Game theory applications cover a wide range of subjects in social, behavioral, mathematical and biological sciences, and game theoretic methodologies draw on a large variety of tools from those sciences.
Hace 6 días · Behavioral economics aims to improve or overhaul traditional economic theory by studying failures in its assumptions that people are rational and selfish. Specifically, it studies the biases, tendencies and heuristics of people's economic decisions.
17 de may. de 2024 · Click here for a list of all articles of the special issue on equilibrium computation of Economic Theory (Vol. 42, Issue 1, 2010). D. Avis, G. Rosenberg, R. Savani, and B. von Stengel (2010), Enumeration of Nash equilibria for two-player games.
