Amazon no longer offers textbook rentals. We do!

Games for Business and Economics

by: Gardner, Roy

Games for Business and Economics

by: Gardner, Roy

ISBN 13:
9780471230717
ISBN 10:
0471230715
Edition: 2nd
Format: Paperback
Copyright: 01/23/2003
Publisher: Wiley

Rent From $119.08

Used From $146.51

New From $198.47

List Price $200.47 Save

Rent $119.08

TERM	PRICE	DUE
SEMESTER	$119.08	Aug 02
QUARTER	$113.13	Jul 19
SHORT TERM	$107.17	Jun 21

Added Benefits of Renting

Free Shipping Both Ways
Highlight/Take Notes Like You Own It
Purchase/Extend Before Due Date

Add to Cart

List Price $200.47 Save $53.96

Used $146.51

Usually Ships in 24-48 Hours

We Buy This Book Back!

Included with your book

Free Shipping On Every Order

Add to Cart

List Price $200.47 Save $2.00

New $198.47

Print on Demand: 2-4 Weeks. This item cannot be cancelled or returned.

We Buy This Book Back!

Included with your book

Free Shipping On Every Order

Add to Cart

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

Extend or Purchase Your Rental at Any Time

Need to keep your rental past your due date? At any time before your due date you can extend or purchase your rental through your account.

Summary

Whether you're a veteran in the business game or have just sat down to play, this book will teach you the importance of rules and how to use them to your advantage. Here you can learn the basic strategies for being competitive in a variety of situations, from the blackjack table to the boardroom table. Pull up a chair and prepare to solve gaming problems as they relate to the business and economic environments today.

Preface

xviii

About the Author

xxi

Part One Basic Game Theory

(152)

An Introduction to Games and Their Theory

(23)

What Is a Game?

(2)

What Is Game Theory, and Why?

(2)

One-Person Decisions with Perfect Information

(5)

Two-Person Games with Perfect Information

(2)

Games Like Chess

(2)

Man vs. Machine: Kasparov Loses to Deep Blue

(1)

Weak Dominance of Strategies and Weak Dominance Solvability

(2)

Strict and Weak Domination of Strategies and Strict Dominance Solvability

(1)

Extensive Form, Normal Form, and Coalition Function Form

(6)

Summary

(1)

Key Terms

(1)

Problems

(3)

Games of Chance

(25)

The Challenge Chance Poses to Players of a Game

(2)

Two Players in a Fair Game

(1)

Two Players in an Unfair Game of Chance

(2)

America's Love Affair With Gambling

(1)

Why Play Unfair Games of Chance?

(1)

A Different Attitude Toward Risk: Risk Seeking

(3)

Another Attitude Toward Risk: Risk Aversion

(1)

Indifference Curves for Expected Utility Theory

(4)

Alternatives to Expected Utility Theory

(11)

Summary

(1)

Key Terms

(1)

Problems

(1)

Appendix. Winning at BlackJack

(6)

Nash Equilibrium for Two-Person Games

(26)

Zero-Sum Games and Constant-Sum Games

(4)

Why Look for Nash Equilibrium?

(1)

Competitive Advantage

(2)

One-Card Stud Poker

(3)

Nash Equilibria of Two-Person, Zero-Sum Games

(3)

A Beautiful Mind: The Story Behind Nash Equilibrium

(1)

Two-Person Variable-Sum Games

(2)

Two More Two-Person, Variable-Sum Games

(3)

Cigarette Advertising on Television

(1)

Two-Person Games with Many Strategies

(7)

Summary

(1)

Key Terms

(1)

Problems

(1)

Appendix. Existence of Nash Equilibrium

(4)

Mixed Strategies and Mixed Strategy Nash Equilibrium

(25)

Mixed Strategies

(3)

Computing Mixed Strategy Nash Equilibria in 2 x 2 Games

(4)

Mixed Strategies and Bluffing: Liar's Poker

(3)

Mixed Strategy Nash Equilibria of Coordination Games and Coordination Problems

(1)

Correlated Equilibrium

(1)

Asymmetrical Mixed Strategy Nash Equilibria

(2)

Chicken

(2)

Always Low Prices

(9)

Summary

(1)

Key Terms

(1)

Problems

(1)

Appendix. Bluffing in One-Card Stud Poker

(5)

n-Person Games in Normal Form

101

(26)

Fundamental Differences with Three Players: The Spoiler

102

(2)

Competitive Advantage and Market Niche With Three Players

104

(3)

Three-Player Versions of Video System Coordination, Let's Make a Deal, and Cigarette Television Advertising

107

(2)

Stonewalling Watergate

109

(2)

Symmetry and Games With Many Players

111

(2)

Solving Symmetrical Games With Many Strategies

113

(1)

The Nash Demand Game

114

(1)

Stag Hunt with Two or More Players

115

(3)

The Tragedy of the Commons

118

(4)

Tragedy of the Commons in the Laboratory

122

(5)

Summary

125

(1)

Key Terms

126

(1)

Problems

126

(1)

Noncooperative Market Games in Normal Form

127

(26)

A Market with One Buyer and One Seller

128

(1)

The Market Game between One Buyer and One Seller

129

(3)

Nash Equilibrium Versus Perfectly Competitive Equilibrium

132

(4)

Market Games with Many Buyers and Sellers

136

(3)

Price Formation on the New York Stock Exchange

139

(1)

Quantity Competition Between Two Firms

139

(3)

The Cournot Limit Theorem

142

(1)

Price Competition Between Two Firms

143

(4)

Zero-Percent Financing in the U.S. Automobile Market

147

(6)

Summary

148

(1)

Key Terms

148

(1)

Problems

148

(1)

Appendix. Deriving the Cournot Equilibrium, the Monopoly Solution, and the Cournot Limit Theorem

149

(4)

Part Two Games with Sequential Structure

153

(84)

Credibility and Subgame Perfect Equilibrium

154

(29)

Subgames and Their Equilibria

155

(5)

Maintaining Credibility Via Subgame Perfection

160

(1)

Credible Threats and Promises

161

(2)

Reluctant Volunteers: Conscription in the American Civil War, 1862--65

163

(2)

Mutually Assured Destruction

165

(4)

Market Games With Subgames: Take-It-or-Leave-It Monopoly

169

(3)

How Powerful Is Monopoly?

172

(1)

Credible Quantity Competition: Cournot-Stackelberg Equilibrium

173

(3)

Credible Price Competition: Bertrand-Stackelberg Equilibrium

176

(2)

This Offer Is Good for a Limited Time Only

178

(5)

Summary

179

(1)

Key Terms

180

(1)

Problems

180

(1)

Appendix 1. Take It or Leave It, in the Laboratory

181

(1)

Appendix 2. Calculus Derivation of a Best Response

182

(1)

Repeated Games

183

(26)

Strategies and Payoffs for Games Played Twice

183

(3)

Two-Person, Zero-Sum Games Played More Than Once

186

(2)

Variable-Sum Games with a Single Nash Equilibrium, Played Twice

188

(2)

OPEC Won't Curb Oil until Others Do

190

(2)

Variable-Sum Games with Multiple Nash Equilibria, Played Finitely Many Times

192

(5)

Infinitely Repeated Games: Strategies and Payoffs

197

(2)

The Efficient Outcome of Prisoner's Dilemma via Subgame Perfection

199

(2)

Robert Axelrod's Tournament

201

(1)

Infinitely Repeated Market Games

202

(3)

Price Leadership in the Ready-to-Eat Cereals Industry

205

(4)

Summary

206

(1)

Key Words

207

(1)

Problems

207

(2)

Evolutionary Stability and Bounded Rationality

209

(28)

How Boundedly Rational Players Play Games

210

(3)

Evolution and Efficiency

213

(4)

Evolution and Conflict

217

(2)

Frogs Call for Mates

219

(4)

ESS for 2 x 2 Asymmetrical Games

223

(4)

Fast Learning with a Finite Number of Players

227

(2)

The Evolution of Video Games

229

(8)

Summary

231

(1)

Key Terms

231

(1)

Problems

232

(1)

Appendix. Fast Learning, Using the Best-Response Dynamics

233

(4)

Part Three Games with Imperfect Information

237

(84)

Signaling, Screening, and Sequential Equilibrium

238

(33)

Two-Player Signaling Games

239

(3)

Sequential Equilibrium: Pure Strategies

242

(8)

Sequential Equilibrium: Mixed Strategies

250

(2)

The Market for Lemons

252

(3)

Costly Commitment as a Signaling Device

255

(2)

Screening Games

257

(2)

Barbarians at the Gate: Signaling and Screening in the Same Event

259

(2)

Repeated Signaling and Track Records

261

(4)

Hit and Run: Track Records in Hollywood

265

(6)

Summary

266

(1)

Key Terms

267

(1)

Problems

267

(1)

Appendix. Conditional Probability and Bayes's Rule

268

(3)

Games between a Principal and an Agent

271

(26)

Principal vs. Agent: Perfect Information

272

(2)

Principal vs. Agent: Subgame Perfect Equilibrium

274

(5)

Principal vs. Agent: Imperfect Information

279

(6)

Depositor vs. S&L

285

(2)

Principal vs. Agent with Two Types of Agents

287

(2)

Principals Competing for Agents

289

(1)

Compensating Corporate Executives

290

(7)

Summary

291

(1)

Key Terms

292

(1)

Problems

292

(1)

Appendix. Risk Aversion in the Principal-Agent Problem

293

(4)

Auctions

297

(24)

Sealed-Bid Auctions with Complete Information

298

(5)

Second-Price Auctions

303

(2)

Individual Private-Value Auctions

305

(5)

Auctioning Off Failed Thrifts

310

(2)

Common-Value Auctions

312

(3)

Bidding for Offshore Oil

315

(1)

Auctions in the Laboratory

316

(5)

Summary

318

(1)

Key Terms

319

(1)

Problems

319

(2)

Part Four Games Involving Bargains

321

(52)

Two-Person Bargains

322

(27)

Bargaining Games

322

(3)

Asymmetries and the Nash Bargaining Solution

325

(4)

Bankruptcy I: Independence of Irrelevant Alternatives and the Nash Bargaining Solution

329

(3)

Bankruptcy II: Monotonicity and the Kalai-Smorodinsky Solution

332

(2)

Next Wave and the FCC Make a Deal

334

(2)

Sequential Bargaining with Perfect Information

336

(2)

Sequential Bargaining with Imperfect Information

338

(2)

United States--Japan Trade Negotiations

340

(1)

Bargaining in the Laboratory

341

(8)

Summary

345

(1)

Key Terms

346

(1)

Problems

346

(1)

Appendix. Risk Aversion and Bargaining Solutions

347

(2)

n-Person Bargaining and the Core

349

(24)

n-Person Bargaining Games

349

(2)

Solutions for n-Person Bargaining Games in Coalition Function Form

351

(3)

n-Person Bankruptcy Games

354

(3)

Enron: The Bigger They Are, the Harder They Fall

357

(2)

The Coalition Function When Intermediate Coalitions Have Power

359

(2)

The Core of a Game in Coalition-Function Form

361

(4)

Sharing Defense Burdens

365

(2)

Bosnian Peace Plans

367

(6)

Summary

370

(1)

Key Terms

370

(1)

Problems

370

(3)

Part Five Games, Marketing, and Politics

373

(50)

Two-Sided Markets and Matching Games

374

(23)

Two-Sided Markets: The Fundamentals

374

(4)

The Coalition Function of a Two-Sided Market Game

378

(2)

The Core of a Two-Sided Market Game

380

(3)

Limitations on Core Equivalence

383

(3)

Barbarians at the Gate: The Core

386

(3)

Two-Sided Matching Games

389

(2)

Matching Games in Coalition-Function Form

391

(1)

Sorority Rush

392

(5)

Summary

394

(1)

Key Terms

394

(1)

Problems

395

(2)

Voting Games

397

(26)

Two-Candidate Voting Games with a Discrete Issue Spectrum

397

(4)

Two-Candidate Voting Games with a Continuous Issue Spectrum

401

(3)

Multicandidate Voting Games

404

(3)

Multicandidate Presidential Elections, 1824--2000

407

(2)

Positional Voting Rules

409

(1)

Voting Games in Coalition-Function Form

410

(2)

Measuring Power

412

(3)

Expanding the United Nations Security Council

415

(8)

Summary

418

(1)

Key Words

419

(1)

Problems

419

(4)

Index

423

Amazon no longer offers textbook rentals. We do!

Games for Business and Economics

Games for Business and Economics

9780471230717

0471230715

Summary

Author Biography

Table of Contents

Supplemental Materials

Write a Review