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Games for Business and Economics 1st Edition

4.0 out of 5 stars 4 customer reviews
ISBN-13: 978-0471311508
ISBN-10: 0471311502
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Editorial Reviews

Review

Description: An easy-to-read, and enjoyable introduction to game theory! This clearly written book shows readers how to set up and solve games, particulaly those in economics and business, using game theory. Gardener's innovative approach helps readers develop strong modeling skills by using proven applications and examples of setups. The book also features a variety of examples, including many from business, politics, economics, and history.

From the Publisher

Designed for the serious reader, this book teaches strategy through the use of game theory. The focus is on setting up and solving games, especially those that arise in economics and business. Develops modeling skills as well as the ability to implement a certain format, the form of the game, by using proven applications and examples of setups. Contains an analogous framework of necessary condition (equilibrium) and sufficient conditions such as undominated strategies, symmetry and subgame perfection to motivate solutions. Features a variety of examples ranging from the Bible to Wall Street.
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Product Details

  • Paperback: 496 pages
  • Publisher: Wiley; 1 edition (October 1994)
  • Language: English
  • ISBN-10: 0471311502
  • ISBN-13: 978-0471311508
  • Product Dimensions: 7.6 x 0.8 x 9.4 inches
  • Shipping Weight: 1.7 pounds
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Best Sellers Rank: #3,374,010 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback
Anybody looking for an easy to read book about game theory, don't search no more, this is the one. It covers all the main subjects of game theory in a very simple way, not sacrificing its technical qualities. It is richly filled with real world examples and all mathematical questions are covered in a step-by-step way.
This should be the first text to anyone seriously thinking of learning Game Theory
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Format: Paperback
The first edition of this book was a nightmare because of many mistakes, typos and errors in examples, problems and calculations.

The second edition presents a much more polished text, but several errors remain. I cannot understand how is this possible, with almost ten years between the two editions. Even worse, the new additions to the text contain errors as well!

- Just one example of an old mistake also present in the first edition: the blackjack game (p 44) has errors in the calculation of the probabilities. The Figure 2.13 last probabilities are not 1/2 and 1/2, but 2/3 and 1/3.

- Another example, this time of a new mistake in a new figure: The Figure 2.9.a Eu = 1 value is wrong. It should be Eu = 0.6.

- Gardner introduces a new Appendix for explaining the Bayes' rule (p. 268-270), and there is a stupid mistake again. In page 270 we have p(B/A') = .01, and he replaces p(B/A') with .04 in p(B) = P(B/A)p(A)+ p(B/A')p(A'), so all the following results are wrong.

There are also mistakes in the on-line resources for the instructors: many problems' solutions contains errors in the calculations!

Etc, etc, etc...

The real problem with this book is this. The approach is very interesting but the book is a minefield due to the many, many typos, errors, mistakes and wrong calculations.

It cannot be recommended as a manual for a course because of this reason.
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Format: Paperback Verified Purchase
When using this book for the class, it is a nice introduction to the subject itself if this was not part of your major. I was fortunate enough to have a clear and direct professor who knew and was able to convey the subject more fluidly than the book does. It lost a star, since there were quite a number of mistakes in the text and the diagrams itself that I would not have caught on if not for being taught the subject slightly differently, but more clearly in class.

Hope this helps and best of luck with those who will be using this text.
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Format: Paperback Verified Purchase
The book was not in the BEST condition, however it was no terrible. No pages are falling out and the covers are in tact, there was just slightly above average normal ware and tare.
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