Download e-book for iPad: Games, Theory and Applications by L. C. Thomas

By L. C. Thomas

ISBN-10: 0486432378

ISBN-13: 9780486432373

This text opens with the speculation of 2-person zero-sum video games, 2-person non-zero sum video games, and n-person video games, at a degree among non-mathematical introductory books and technical mathematical video game concept books. comprises introductory reasons of gaming and meta video games. contains quite a few routines and issues of recommendations and over 30 illustrations.

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Another example concerns rationality; formal general equilibrium models assume strong rationality; many applied policy models assume bounded rationality when that assumption provides a better fit with the data. Akerlof (1993)’s cognitive dissonance model of interrelationships and Solow (1990)’s sociological model of the labor market are examples. Yet another example is in finance where psychological assumptions are replacing strong rationality assumption. This has occurred so much that Thaler (1999) argues, that soon, “the term ‘behavioral finance’ will be correctly viewed as a redundant phrase.

Solow (1997) has captured the essence of the current approach with his “loose fitting positivism” terminology. A. Brock, D. Colander Today, if you ask a mainstream economist a question about almost any aspect of economic life, the response will be: suppose we model that situation and see what happens.... There are thousands of examples; the point is that modern mainstream economics consists of little else but examples of this process. (p. 43) The positivism of modern economics is embodied in its focus on empirical testing and its methodological adherence to the separation of positive and normative elements.

1984, Cellular automata as models of complexity, Nature 311, 419–424. A. Brock, D. Colander 1 Introduction Economics has evolved significantly since the 1950s, both in what it covers and the approaches it uses. Whereas the applied policy economics through the 1950s could reasonably be called neoclassical, modern economics has outgrown that classification. Its approach is more eclectic, and its applied policy models are not required to adhere to the assumptions that Solow calls the holy trinity–rationality, equilibrium, and greed.

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Games, Theory and Applications by L. C. Thomas


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