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| by: Philip D. Straffin |
Game Theory and Strategy (New Mathematical Library)
by: Philip D. Straffin
* Publisher: The Mathematical Association of America
* Number Of Pages: 244
* Publication Date: 1996-09-05
* ISBN-10 / ASIN: 0883856379
* ISBN-13 / EAN: 9780883856376
* Binding: Paperback
Product Description:
This book pays careful attention to applications of game theory in a wide variety of disciplines. The applications are treated in considerable depth. The book assumes only high school algebra, yet gently builds to mathematical thinking of some sophistication. Game Theory and Strategy might serve as an introduction to both axiomatic mathematical thinking and the fundamental process of mathematical modelling. It gives insight into both the nature of pure mathematics, and the way in which mathematics can be applied to real problems.
Summary: The best introduction to game theory ever written
Rating: 5
Game theory is an area of mathematics that has a very short history; it began with the publication of the classic book, "Theory of Games and Economic Behavior" by John von Neumann and Oskar Morgenstern in 1944. It is a very dynamic field, having applications ranging from parlor games to economic competition to potential warfare between nations. Straffin covers all of these areas in a manner accessible to anyone with a mathematical bent.
To me, the most interesting games are those that rely on the unpredictability of human behavior and there is nothing better to illustrate this than the prisoner's dilemma. Two criminals are captured and kept in separate rooms. If both keep silent, there is no evidence against them and they are released, but if one talks and the other doesn't the talker gets a reward and the silent one gets two years. If both confess, then each gets one year. In the standard model, the fear of being the fall guy causes both to confess, even though it is to their mutual advantage for both to keep silent. Straffin covers this situation in detail.
As some of the examples point out, free markets, where each participant pursues their self-interest are not always the most efficient way to allocate resources or make decisions. Cooperation between the participants where each gets something less than the potential optimal can be the superior way to make decisions. This occurs when the payoff is high when only a few can take advantage but is negative or low if all try to take advantage.
There is no area of mathematics that can match the fascinating consequences of game theory. It is about the complex interactions between humans, both individually and in groups. In my opinion, it is impossible to understand sociology if you lack understanding of basic game theory. This book is the best place to acquire that understanding.
Summary: Perfect First Simple Game Theory for Ordinary People
Rating: 5
This is a good first book about game theory for those who are not afraid of math but not mathematically inclined. The book is full of math but the simple explanations and the way the author builds up to the theory makes it simple to follow.
I actually bought this copy for my library. I had used this book in college but had borrowed that copy from a friend.
Summary: An Excellent Small Book on Game Theory
Rating: 5
I read a couple of books on game theory. This is one of the better books... but it also has one small advantage... it's small. I carry it almost everywhere and read its short chapters (another advantage) without getting too tired. It's also quite difficult to get tired reading the book as the author keeps his explanations fairly simple, lively, and to the point.
A good spread of topics and examples too!
http://ifile.it/i1zrknu/gts.rar
