An Introduction to Game Theory [Hardcover]

Martin J. Osborne (Author)

Book Description

Publication Date: August 7, 2003

Game-theoretic reasoning pervades economic theory and is used widely in other social and behavioral sciences. An Introduction to Game Theory, by Martin J. Osborne, presents the main principles of game theory and shows how they can be used to understand economic, social, political, and biological phenomena. The book introduces in an accessible manner the main ideas behind the theory rather than their mathematical expression. All concepts are defined precisely, and logical reasoning is used throughout. The book requires an understanding of basic mathematics but assumes no specific knowledge of economics, political science, or other social or behavioral sciences.
Coverage includes the fundamental concepts of strategic games, extensive games with perfect information, and coalitional games; the more advanced subjects of Bayesian games and extensive games with imperfect information; and the topics of repeated games, bargaining theory, evolutionary equilibrium, rationalizability, and maxminimization. The book offers a wide variety of illustrations from the social and behavioral sciences and more than 280 exercises. Each topic features examples that highlight theoretical points and illustrations that demonstrate how the theory may be used. Explaining the key concepts of game theory as simply as possible while maintaining complete precision, An Introduction to Game Theory is ideal for undergraduate and introductory graduate courses in game theory.

Editorial Reviews

Review

"This is a textbook to be enjoyed both by professors and students, full of clever and often original applications and examples. Serious students who use this text are likely to emerge with a new way of thinking about much of what they see in the real world."--Ted Bergstrom, Professor of Economics, University of California, Santa Barbara

"The book is just superb. I anticipate (based both on my own reading of the book, and comments from colleagues at other institutions) that this will be the standard text for introductory courses in game theory in political science departments for the foreseeable future."--Scott Gehlbach, Assistant Professor of Political Science, University of Wisconsin

"What distinguishes this book from other texts is its remarkable combination of rigor and accessibility. The central concepts of game theory are presented with the mathematical precision suitable for a graduate course, but with an abundance of wide-ranging examples that will give undergraduate students a concrete understanding of what the concepts mean and how they may be used."--Charles A. Wilson, Professor of Economics, New York University

"A great book, by far the best out there in the market in thoroughness and structure."--Dorothea Herreiner, Assistant Professor of Economics, Bowdoin College

"The ideal textbook for applied game theory . . . . It teaches basic game theory from the ground up, using just enough clearly defined technical terminology and ranging from traditional basics to the most modern tools."--Randy Calvert, Professor of Political Science, Washington University in St. Louis

"The approach is intuitive, yet rigorous. Key concepts are explained through a series of examples to guide students through analysis. The examples are then followed by interesting and challenging questions. The main strength is the impressive set of exercises . . . they are extremely well organized and incredibly broad, ranging from easy questions to those for adventurous students."--In-Koo Cho, William Kinkead Distinguished Professor of Economics, University of Illinois

"The gentle pace of the material along with the plethora of examples drawn from economics (mainly) and political science seems to work very well with students."-Branislav L. Slantchev,Assistant Professor of Political Science, University of California, San Diego

"The book is excellent. It is chock full of exercises that are both interesting and applicable to real issues, allowing me great flexibility in focusing on specific examples to illustrate the theory."--Christopher Proulx, Assistant Professor of Economics, University of California, Santa Barbara

"This book provides a simple yet precise introduction into game theory, suitable for the undergraduate level. Author Martin J. Osborne makes use of a wide variety of examples from social and behavioral sciences to convey game-theoretic reasoning. Readers can expect to gain a thorough understanding without any previous knowledge of economics, political science, or any other social or behavioral science. No mathematics is assumed beyond that of basic high school."--Journal of Macroeconomics

About the Author

Martin J. Osborne is at University of Toronto.

Product Details

• Hardcover: 560 pages
• Publisher: Oxford University Press, USA (August 7, 2003)
• Language: English
• ISBN-10: 0195128958
• ISBN-13: 978-0195128956
• Product Dimensions: 9.4 x 7.8 x 1.3 inches
• Shipping Weight: 2.5 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (20 customer reviews)
• Amazon Best Sellers Rank: #21,463 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

19 of 21 people found the following review helpful:

5.0 out of 5 stars The best introduction book that you will love!, October 25, 2004

By 

bookworm (Boston) - See all my reviews

This review is from: An Introduction to Game Theory (Hardcover)

I have quite a few game theory books, including the Fudenberg and Tirole, the Gibbons, the Mayerson and the other Osborne book. This one is absolutely the best introductory book you will find. The writing is extremely clear, with no unnecessary math, but with very rigorous treatment of concepts and theorems. The author makes remarkable effort in explaining the stuff, and succeeds beyond my expection in offering intuitions and ideas behind the concepts and theorems. It is a perfect intro-level book, if what you want is the combination of accessibility, rigor, and comprehensiveness.

24 of 29 people found the following review helpful:

3.0 out of 5 stars Not for the Mathematically-Inclined, July 30, 2006

By 

Amol Shelat (Chicago) - See all my reviews

This review is from: An Introduction to Game Theory (Hardcover)

I used Osborne's book for an introductory course on game theory I took as an undergraduate. While Osborne provides a great general overview of game theory, I find this book lacking in a number of respects.

First, theorems are presented in this book inuitively, as opposed to rigorously. Therefore, in place of using proofs to justify a theorem or a given result, many of the theorems are illustrated through words. This method, however, proves to be confusing at many points in the book.

In addition to this, the book is heavily invested in the use of examples to illustrate the numerous applications of particular theorems or results. While I generally applaud the extensive use of examples, this also proves to be very confusing at times since the logical steps Osborne seems to make are not always explicitly stated. This caused me some trouble in trying to solve several problems in the textbook. The one saving grace was that Osborne has posted several (though not all) solutions on his website.

This book does require knowledge of algebra and a little calculus. Some microeconomic theory wouldn't hurt, either--especially for the sections on Stackelburg and Cournot duopolies. Becuase most economics programs in the US stress mathematics, I would recommend an alternative textbook that is more rigorous. Principally, I used Roger Myerson's "Game Theory: Analysis of Conflict" to supplement the shortcomings of this book. Myerson's book is thoroughly rigorous and is, I believe, used as a graduate textbook for game theory in many departments. If, however, you are interested in a general overview of the field or do not feel comfortable with technical mathematics, I would definately recommend this book.

14 of 17 people found the following review helpful:

5.0 out of 5 stars A Great Intro Book, December 17, 2005

By 

Barney Glaser "Entrant" (Berkeley, CA) - See all my reviews
(REAL NAME)   

This review is from: An Introduction to Game Theory (Hardcover)

This is a into great book that works well in companion with the more advanced "A Course in Game Theory," by Osborne and Rubinstein. That said it is not layperson's guide to Game Theory, if such a thing could possibly exist.

Complaints of a pervious reviewer seem unfounded. Yes, game theory requires math. Game thoery, like most other theory, is also not packaged to be directly ported to the "real world." It requires the use of stylized models to make any ground. Figuring out how to apply a subject like game thoery to the real world is not something that can really be conveyed in a book. Rather, one should try to internlize the concepts contained in the thoery by working simple examples.