Exploring Game Theory with Imperfect Information: A Comprehensive Overview

In summary, game theory with imperfect information is a rich and evolving field of study with many useful resources available for further exploration.
  • #1
krikker
9
0
Does anyone have a broader perspective on Game Theory with inperfect information?

At the moment I'm working on a self defined subject, using only the basic tools in the original work by von Neumann. Basically I just generalized his one-round, fixed limit poker with continuous variables so that it can handle any decision tree.

But now I'm considering using some variant of Gaming theory for my master, probably in an evolutionary context since that would go well with my department. But I'm really just curious about the current research being done within the field in general.

Could someone explain me some basic directions, or supply some ideas for books or articles I could read to get an overview.

Thank you
 
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  • #2
! Game theory with imperfect information has been a major focus of research in recent years. A good place to start is the book by Dutta, "Game Theory for Strategic Interaction" (Oxford University Press, 2019). It provides an excellent overview of game theory with imperfect information, including both theoretical and applied approaches. The book covers topics such as Bayesian games, extensive form games, stochastic games, dynamic games, and repeated games. It also has a chapter on evolutionary gaming theory which is particularly relevant to your research. In addition, there are many other books and journal articles that cover game theory with imperfect information. Two important resources are the International Journal of Game Theory, which publishes research on all aspects of game theory, and the Handbook of Game Theory with Applications to Economics, edited by H. Moulin and M. Shubik (Elsevier, 2005). This handbook provides an in-depth analysis of game theory with imperfect information.
 

1. What is Game theory?

Game theory is a branch of mathematics that studies strategic decision-making in situations where the outcome of one's choice depends on the choices of others. It is often used in economics, political science, and other fields to analyze the behavior of rational individuals in competitive situations.

2. What are the key concepts in Game theory?

The key concepts in Game theory include players, strategies, payoffs, and equilibrium. Players are the individuals or groups making decisions in the game. Strategies are the possible options available to players. Payoffs represent the benefits or costs associated with each strategy. Equilibrium is the state where no player has an incentive to change their strategy.

3. How is Game theory applied?

Game theory is applied in various fields, such as economics, political science, and biology, to analyze competitive situations and decision-making. It is used to understand and predict behavior in situations like pricing wars, negotiations, and voting systems.

4. What are the limitations of Game theory?

One limitation of Game theory is that it assumes rationality and self-interest of all players, which may not always be the case in real-life situations. It also simplifies complex situations and may not account for all factors that influence decision-making.

5. What are the different types of games in Game theory?

There are several types of games in Game theory, including zero-sum games, non-zero-sum games, simultaneous games, sequential games, and cooperative games. Zero-sum games have a fixed total payoff, where one player's gain is another player's loss. Non-zero-sum games allow for the possibility of both players gaining or losing. Simultaneous games involve players making decisions simultaneously, while sequential games have players making decisions in a specific order. Cooperative games involve players working together to achieve a common goal.

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