Game Theory: A Beginner's Guide

In summary, Nobahar recommended two books - one focussing on economics and the other focussing on sociology - as resources for learning about game theory. OJ found a book about game theory that she liked, but found it difficult to understand at first.
  • #1
nobahar
497
2
Hello!
Does anyone know of any decent resources for learning to intepret and construct Game theory and signalling games and their ilk?
Thanks everyone
n.b. something user friendly, preferably.
 
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  • #2
Although I had a nice book when studying game theory, I cannot find a PDF of it online.. :-/

I did, however, find this http://william-king.www.drexel.edu/top/eco/game/game.html [Broken], with a brief google search. It seems to give a nice, non-technical overview.
 
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  • #3
n1person said:
...with a brief google search...
Sorry, it wasn't me being lazy, just usually there are 'hidden gems' that people know about that don't always come up straight away. The site looks good though: thanks very much!
Additionally, the book you mentioned, if it's recommended, I would consider purchasing it or a related book.
Thanks for the reply,
Nobahar.
 
  • #4
Oh sorry, I didn't mean it that way :P I was just trying to say that I haven't used it myself or had too much experience with it, I just went through it briefly to make sure if covered the key stuff.

I used the Dover book about called something like "Games and Decisions," I liked it a bit, although it was sort of verbose and think it could have worded things a little bit better and to the point. However it overall was an engaging book. Although I should note that I didn't read all of it though (like the first 6 chapters).
 
  • #5
Thanks N1 for going to the trouble to see if it covered the fundamentals, I've been working my way through it. I found the book you mentioned, contemplating buying it (but that's neither here nor there!).
Thanks for all your help and time.
 
  • #6
how about a short introduction to game theory published by oxford university?
 
  • #7
I was interested in a biology orientated one, if there is, as that's how I came into contact with game theory. They seem to be mainly economics inclined.
 
  • #8
yeah it is more economics focussed, but i guess you can apply it to other fields. But from what I've read i couldn't see any bilogical applications of it?
 
  • #9
Sorry, I should say Sociobiology. Concerning the evolution of certain behaviours. As coincidence would have it I read one just moments ago concerning Ravens and why it is beneficial for a selfish individual to hunt for food alone and then 'call' fellow ravens to the scene. Iterated Prisoner's dilemma and the high scoring 'nice' tactics that can be employed in it such as tit for tat can be used as an example to demonstarte how apparently altruistic behaviours could occur (this latter point is from The Selfish Gene by Richard Dawkins).
It features quite heavily in sociobiology apparently, hence why I'm trying to learn it.
 
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  • #10
I would definitely reccconmend this book for you then, i do not think it is very ecconomics based and has quite a lot of what you talk about. It deals with the prisoner's dilema, monty hall problem, bargaining theory, nash equilibrium and much more. I found it very good but did struggle to understand some of it, but then i am only an a level maths student.
 
  • #11
Thanks for the recommendation OJ. I might check out the local libraries before I commit to any books, though.
 

1. What is game theory?

Game theory is a mathematical framework used to analyze decision-making in situations where the outcome of an individual's choice depends on the choices made by others. It is often applied in fields such as economics, political science, and psychology.

2. What are the key components of game theory?

The key components of game theory include players, strategies, payoffs, and information. Players are the decision-makers in the game, strategies are the possible choices they can make, payoffs are the outcomes of those choices, and information refers to the knowledge that players have about each other's strategies and payoffs.

3. How is game theory used in real-life scenarios?

Game theory can be applied in various real-life scenarios, such as negotiations, business decisions, and international conflicts. It helps individuals and organizations make strategic decisions by considering the potential actions and reactions of others.

4. What are some common game theory models?

Some common game theory models include the prisoner's dilemma, the chicken game, and the ultimatum game. These models are used to study different types of interactions between individuals, such as cooperation and competition.

5. What are the limitations of game theory?

While game theory can provide valuable insights into decision-making, it also has some limitations. One of the main limitations is that it assumes rationality and complete information from all players, which may not always be the case in real-life situations. It also does not take into account emotions and other psychological factors that can influence decision-making.

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