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At the age of 21, a brilliant and highly eccentric graduate student made a major contribution to game theory: John Nash had discovered an influential theory of rational human behaviour. But ten years later, at the peak of a dazzling mathematical career and soon after his marriag…
Why do so many gamblers risk it all when they know the odds of winning are against them? Why do they believe dice are 'hot' in a winning streak? Why do we expect heads on a coin toss after several flips have turned up tails? "What's Luck Got to Do with It?" takes a lively and ey…
Global threats of terrorism, drug-smuggling and other crimes have led to a significant increase in research on game theory for security. Game theory provides a sound mathematical approach to deploy limited security resources to maximize their effectiveness. A typical approach is…
Corporate managers who face both strategic uncertainty and market uncertainty confront a classic trade-off between commitment and flexibility. They can stake a claim by making a large capital investment today, influencing their rivals' behavior; or they can take a "wait and see"…
In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological b…
This text is a brief introduction to various quantitative methods used in economic decision making, including input-output, inventory control and Markhov chains. It provides basic models that can be utilized to solve real-world problems.
In this lively history of game theory, a gifted math educator and science writer explains for lay readers the uses and value of this innovative yet easy-to-understand approach to mathematical modeling. Essentially, game theory interprets life as a game with mathematical rules. B…