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Frahm, Gabriel

Rational Choice and Strategic Conflict

The Subjectivistic Approach to Game and Decision Theory

DE GRUYTER OLDENBOURG

    103,95 € / $119.99 / £94.50*

    eBook (PDF)
    Publication Date:
    2019
    Copyright year:
    2019
    To be published:
    October 2019
    ISBN
    978-3-11-059610-6
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    Overview

    • With a foreword by Steven Brams (NYU)
    • New approach to solving strategic conflicts
    • This study queried the equilibrium doctrine of game theory

    Aims and Scope

    This book provides a new approach to game theory. It is well-known that Nash equilibrium produces a number of anomalies (subgame and trembling-hand imperfection, Pareto inefficiency, multiple solutions, etc.), and the epistemic conditions for a rational solution to be a (Nash) equilibrium are quite strong. I argue that an equilibrium is neither necessary nor sufficient for a rational solution if the players act according to subjectivistic decision theory. Moreover, traditional game theory presumes that the players choose their actions or strategies independently. I drop the strategic-independence assumption and introduce the interactive form of a game. The strategic form describes "action," the extensive form describes "reaction," whereas the interactive form is able to describe "interaction." By this means, it is possible to merge non-cooperative with cooperative game theory. The primary audience are all kind of students, graduates, and post graduates interested in a modern and comprehensive approach to game theory. 

    Details

    Approx. 490 pages
    DE GRUYTER OLDENBOURG
    Language:
    English
    Type of Publication:
    Monograph

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    Gabriel Frahm, Helmut Schmidt University Hamburg

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