Games, Economies and Fair Allocations

Games, Economies and Fair Allocations

by Marc Meertens


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This monograph studies several subjects in the field of Game Theory. Game Theory models conflict situations, in which a group of goal-
seeking individuals, each endowed with his own knowledge, capacities, behavior, likes and dislikes,
interact and thereby jointly generate an outcome. To attain an outcome, players can either cooperate or compete with each other. This division is also reflected in Game Theory. The competitive nature of interaction is the topic of Non-
cooperative Game Theory. In case players can make binding agreements with each other, one is dealing with Cooperative Game Theory. The main focus of Game
Theory is to find solution rules. Solution rules provide recommendations to the players involved,
telling each of the players how to attain an optimal outcome. In case of Non-cooperative Game Theory one tries to formalize the notions of rational behavior and the concept of equilibrium. In Cooperative
Game theory the main interest is not only knowing how players cooperate in an optimal way, but also the problem of how to allocate the proceeds of cooperation plays an important role.

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Product Details

ISBN-13: 9783639166132
Publisher: VDM Verlag
Publication date: 06/14/2009
Pages: 208
Product dimensions: 6.00(w) x 9.00(h) x 0.48(d)

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