Models of Strategic Rationality

ISBN-13: 9789027726636 / Angielski / Twarda / 1988 / 318 str.

Reinhard Selten; Bernard Selten; R. Selten

Opis

The papers collected in this volume relate to game theory. They aim at the elaboration and discussion of basic con- cepts, at the analysis of specific applied models and at the evaluation of experimental evidence. A game is a mathematical model of a situation where several actors with different goals are engaged in strategic inter- action. Game theory explores the nature and the consequence. s of rational behavior in games. With respect to several papers in this volume, it seems to be appropriate to comment on later developments. A list of some important references is given at the end of the intro- duction. References already included in the collected pa- pers are not repeated here. In casual conversation colleagues sometimes observe that the author on the one hand goes to extremes in the elabora- tion of the consequences of Bayesian rationality and on the other hand strongly emphasizes the limited rationality of actual decision behavior. This seeming discrepancy is also expressed in the collection presented here. The author thinks that a sharp distinction should be made between nor- ative and descriptive game theory. This position of "methodological dualism" has been expressed in a comment to Aumann's paper "What is game theory trying to accomplish?" (Aumann, 1985, Selten 1985) Normative game theory has the important task to explore the nature and the consequences of idealized full rationality in strategic interaction. This requires a thorough discuss- ion of first principles. Empirical arguments are irrelevant here.

Spis treści

1. Reexamination of the Perfectness Concept for Equilibrium Points in Extensive Games.- 2. The Chain Store Paradox.- 3. A Note on Evolutionarily Stable Strategies in Asymmetric Animal Conflicts.- 4. A Simple Game Model of Kidnapping.- 5. A Simple Model of Imperfect Competition where 4 Are Few and 6 Are Many.- 6. A Model of Oligopolistic Size Structure and Profitability.- 7. Are Cartel Laws Bad for Business?.- 8. Bargaining under Incomplete Information — A Numerical Example.- 9. A Noncooperative Model of Characteristic-Function Bargaining.- 10. The Equity Principle in Economic Behavior.- 11. Coalition Probabilities in a Non-Cooperative Model of Three-Person Quota-Game Bargaining.- 12. Equal Division Payoff Bounds for Three-Person Characteristic Function Experiments.- Author Index.

O autorze

Prof. em. Dr. Dr. h.c. mult. Reinhard Selten was born in Breslau at October 5, 1930. Reinhard Selten finished highschool in 1950 at Melsungen and then began to study mathematics at Frankfurt a. M.. Reinhard Selten received his Ph. D. in 1961 at Frankfurt a. M. His Ph. D. thesis was on valuation of n-person games. Reinhard Selten spent one academic year in 1967-1968 at the University of California, Berkeley, as a Visiting Full Professor. Since 1969 until 1996 Reinhard Selten taught economic theory first at the Free University of Berlin, then at the University of Bielefeld and finally at the University of Bonn. Together with John Harsanyi and John F. Nash Reinhard Selten received in 1994 the Alfred Nobel Memorial Prize. The price was awarded for foundational work in gamee theory. During his stay at Bonn he founded the first computerized laboratory in Europe. He received 11 honorary doctorates from universities in Germany, France, Great Britain, the United States and China. In 2005 he became the leader of the workinggroup "Rationality in the Light of Experimental Economics" of the Northrhine-Westfalian Academy of Sciences and Arts at the University of Bonn. He resigned from this position in September 2014 and finished working for this group at Oktober 2014. Since then he works in his home. He was married with his first wife from 1959 until her death at March 2014. He married again in September 2014.