Behavioral Game Theory

, by
Behavioral Game Theory by Camerer, Colin, 9780691090399
Note: Supplemental materials are not guaranteed with Rental or Used book purchases.
  • ISBN: 9780691090399 | 0691090394
  • Cover: Hardcover
  • Copyright: 2/25/2003

  • Rent

    (Recommended)

    $89.97
     
    Term
    Due
    Price
    *This item is part of an exclusive publisher rental program and requires an additional convenience fee. This fee will be reflected in the shopping cart.
  • Buy New

    In Stock Usually Ships in 24 Hours

    $136.59
  • eBook

    eTextBook from VitalSource Icon

    Available Instantly

    Online: 180 Days

    Downloadable: 180 Days

    $73.11

Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose.Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life.While there are many books on standard game theory that address the way ideally rational actors operate,Behavioral Game Theorystands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
Loading Icon

Please wait while the item is added to your bag...
Continue Shopping Button
Checkout Button
Loading Icon
Continue Shopping Button