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Game Theory and Strategy

Game Theory and Strategy - 93 edition

ISBN13: 978-0883856376

Cover of Game Theory and Strategy 93 (ISBN 978-0883856376)
ISBN13: 978-0883856376
ISBN10: 0883856379
Cover type: Paperback
Edition/Copyright: 93
Publisher: Mathematical Association of America
Published: 1993
International: No
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Game Theory and Strategy - 93 edition

ISBN13: 978-0883856376

Philip D. Straffin

ISBN13: 978-0883856376
ISBN10: 0883856379
Cover type: Paperback
Edition/Copyright: 93
Publisher: Mathematical Association of America

Published: 1993
International: No
Summary

This book is an introduction to mathematical game theory, which might better be called the mathematical theory of conflict and cooperation. It is applicable whenever two individuals-- or companies, or political parties, or nations -- confront situations where the outcome for each depends on the behavior of all. What are the best strategies in such situations? If there are chances of cooperation, with whom should you cooperate, and how should you share the proceeds of cooperation?

Since its creation by John von Neumann and Oskar Morgenstern in 1944, game theory has shed new light on business, politics, economics, social psychology, philosophy, and evolutionary biology. In this book, its fundamental ideas are developed with mathematics at the level of high school algebra and applied to many of these fields. Ideals like "fairness" are presented via axioms that fair allocations should satisfy; thus the reader is introduced to axiomatic thinking as well as to mathematical modeling of actual situations.