Strategies and Games: Theory and Practice [Hardcover]

Prajit K. Dutta (Author)

Book Description

Publication Date: February 26, 1999 | ISBN-10: 0262041693 | ISBN-13: 978-0262041690

Game theory has become increasingly popular among undergraduate as well as business school students. This text is the first to provide both a complete theoretical treatment of the subject and a variety of real-world applications, primarily in economics, but also in business, political science, and the law. Strategies and Games grew out of Prajit Dutta's experience teaching a course in game theory over the last six years at Columbia University.The book is divided into three parts: Strategic Form Games and Their Applications, Extensive Form Games and Their Applications, and Asymmetric Information Games and Their Applications. The theoretical topics include dominance solutions, Nash equilibrium, backward induction, subgame perfect equilibrium, repeated games, dynamic games, Bayes-Nash equilibrium, mechanism design, auction theory, and signaling. An appendix presents a thorough discussion of single-agent decision theory, as well as the optimization and probability theory required for the course.Every chapter that introduces a new theoretical concept opens with examples and ends with a case study. Case studies include Global Warming and the Internet, Poison Pills, Treasury Bill Auctions, and Final Jeopardy. Each part of the book also contains several chapter-length applications including Bankruptcy Law, the NASDAQ market, OPEC, and the Commons problem. This is also the first text to provide a detailed analysis of dynamic strategic interaction.

Editorial Reviews

About the Author

Prajit K. Dutta is Professor of Economics at Columbia University.

Product Details

• Reading level: Ages 18 and up
  
• Hardcover: 476 pages
• Publisher: The MIT Press (February 26, 1999)
• Language: English
• ISBN-10: 0262041693
• ISBN-13: 978-0262041690
• Product Dimensions: 9 x 7.9 x 0.9 inches
• Shipping Weight: 1.7 pounds (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #102,580 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

38 of 40 people found the following review helpful:

5.0 out of 5 stars A great book for those interested in Game Theory, March 30, 2000

By A Customer

This review is from: Strategies and Games: Theory and Practice (Hardcover)

This is a great book for getting a good start in game theory. The proofs are laid out very clearly, which makes the whole book much easier to follow. Many of the more difficult topics are explained through examples which makes the subjects more interesting, easier to follow, and better for later application on your own. I have gone through quite a number of game theory texts in the last few years and this one is by far the best I have seen for someone just starting out. I recommend this text highly for advanced undergrads and grad students who are just getting going in these topics. The dynamic game section was especially nicely done!

22 of 23 people found the following review helpful:

4.0 out of 5 stars Highly recommended, May 31, 2001

By 

"jankensgard" - See all my reviews

This review is from: Strategies and Games: Theory and Practice (Hardcover)

This is definitely a very good introduction book. It is very accessible, while at the same time formalized enough to make it a good reference book.

It explains the results derived in a very intuitive manner, which I like a lot about this book. There is a straightforward, intuitive explanation provided for (almost) every result. The main points of every chapter are also outlined very nicely, the book has a great structure.

Another good thing is that the author quite often states straightforward questions right after claiming some result, like "..which leads us to ask...", or "...this begs the question of..." This is nice because it helps you keep track of what it is we are actually looking for or the general direction of the whole chapter.

The chapters are small, which I think is good because it allows the reader to get a sense of accomplishment rather often, great for motivation.

Unfortunately, there are no answers provided to the questions. If you are not bothered by that, then no problem. But I don't have that kind of dicipline, and I suspect most people don't, which is mostly why I took off one star. But on the other hand, I guess most other game theory texts don't provide answers either, so maybe I shouldn't hold it too much against it. All in all, it's a terrific book and game theory such a wonderful subject, so I can't but recommend it.

13 of 13 people found the following review helpful:

4.0 out of 5 stars Open Yale text - very good reference, January 20, 2009

By 

W. French (NY, USA) - See all my reviews
(REAL NAME)   

This review is from: Strategies and Games: Theory and Practice (Hardcover)

I am taking Game Theory through the Open Yale online course, and this is one of the recommended texts. If it has been a few years since you took your math and economics, you may find this heavy going. But, with the lectures and the class notes one can work through it.

The text is well organized, covers all the major topics you would expect, and complements the lectures well. It is definitely geared toward multiple constituencies and is suitable for economics buffs as well as politics and MBA types. Cases range from classic games to the WWI trenches to business and economics. Very engaging.