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Game Theory & Modeling

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The multinational firm and its main vehicle, foreign direct investment, are key forces in economic globalization. Their importance to the world economy can be seen in the fact that since 1990 foreign direct investment has grown more rapidly than the world GDP and world trade. Despite this, the causes and consequences of multinational firm activity are little understood and until recently relatively unexamined in the theoretical literature.

This volume brings together all of Ken Binmore's influential experimental papers on bargaining along with newly written commentary in which Binmore discusses the underlying game theory and addresses the criticism leveled at it by behavioral economists.

Microexplanation

In this study, Don Ross explores the relationship of economics to other branches of behavioral science, asking, in the course of his analysis, under what interpretation economics is a sound empirical science. The book explores the relationships between economic theory and the theoretical foundations of related disciplines that are relevant to the day-to-day work of economics—the cognitive and behavioral sciences.

The Foundations of Cooperation in Economic Life

Moral Sentiments and Material Interests presents an innovative synthesis of research in different disciplines to argue that cooperation stems not from the stereotypical selfish agent acting out of disguised self-interest but from the presence of "strong reciprocators" in a social group.

Eductive Stability in Economics

The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory, macroeconomics, and general equilibrium to finance. In this book, Roger Guesnerie continues the critical analysis of the REH begun in his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised by multiplicity and its implications for a theory of endogenous fluctuations.

This is the second volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"—a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form.

This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form.

The Making of Alfred P. Sloan's My Years with General Motors

Published in 1964, My Years with General Motors was an immediate best-seller and today is considered one of the few classic books on management. The book is the ghostwritten memoir of Alfred P. Sloan, Jr. (1875-1966), whose business and management strategies enabled General Motors to overtake Ford as the dominant American automobile manufacturer in the 1920s and 1930s.

Evolutionary game theory attempts to predict individual behavior (whether of humans or other species) when interactions between individuals are modeled as a noncooperative game. Most dynamic analyses of evolutionary games are based on their normal forms, despite the fact that many interesting games are specified more naturally through their extensive forms.

Games, Metagames, and Political Behavior

Since the theory of metagames is a thoroughly new development, built up from "classical" game theory, the author has taken great care to assess the soundness of its structural parts, proving all assertions and evoking a high degree of mathematical rigor and generality akin to that found in abstract set theory in pure mathematics. However, the aim of his work is to produce a technique that can be used to resolve real-life, real-time conflict situations and to investigate political and social interactions between decision makers.

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