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The Theory of Learning in Games (Economic Learning and Social Evolution)

The Theory of Learning in Games (Economic Learning and Social Evolution)

by KenBinmore (Author), David K . Levine (Author), Drew Fudenberg (Author)

  • New

    Paperback 2017

    $52.95
Synopsis

In economics, most noncooperative game theory has focused on equilibrium in games, especially Nash equilibrium and its refinements. The traditional explanation for when and why equilibrium arises is that it results from analysis and introspection by the players in a situation where the rules of the game, the rationality of the players, and the players' payoff functions are all common knowledge. Both conceptually and empirically, this theory has many problems. In The Theory of Learning in Games Drew Fudenberg and David Levine develop an alternative explanation that equilibrium arises as the long-run outcome of a process in which less than fully rational players grope for optimality over time. The models they explore provide a foundation for equilibrium theory and suggest useful ways for economists to evaluate and modify traditional equilibrium concepts.

$52.95

Quantity

20+ in stock

More Information

Format: Paperback
 Pages: 294
 Edition: Reprint
 Publisher: MIT Press
Published: 21 Feb 2017
ISBN 10: 0262529246
ISBN 13: 9780262529242
Book Overview: A masterly introduction to a wide range of recent models of learning and evolution in games. The models are very nicely explained, exemplified and related to each other. -- Joergen W. Weibull, Economics Department, Stockholm School of Economics Written by two prominent contributors to the exploding literature on evolution and learning in economics and game theory, this excellent book is exceptionally comprehensive. It will be useful for graduate students and advanced researchers alike. -- Eddie Dekel, Northwestern University This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work. -- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin

Media Reviews
-- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin
This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work. -- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin
& quot; This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work.& quot; -- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin
This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work. --Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin
Author Bio
Drew Fudenberg is Professor of Economics at MIT. David K. Levine is John H. Biggs Distinguished Professor of Economics at Washington University, St. Louis. Christopher Ansell is Associate Professor of Political Science at the University of California, Berkeley.