The Theory of Learning in Games

Drew Fudenberg (Harvard University), David K. Levine (Economics/WUSTL), Ken Binmore (Emeritus Professor of Economics, University College London)

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English

MIT Press
03 June 1998

Economic theory & philosophy; Econometrics; Game theory

Series: Economic Learning and Social Evolution

In economics, most noncooperative game theory has focused on equilibrium in games, especially Nash equilibrium and its refinements. The traditional explanation for when and why equilibrium arises is that it results from analysis and introspection by the players in a situation where the rules of the game, the rationality of the players, and the players' payoff functions are all common knowledge. Both conceptually and empirically, this theory has many problems.

In The Theory of Learning in Games Drew Fudenberg and David Levine develop an alternative explanation that equilibrium arises as the long-run outcome of a process in which less than fully rational players grope for optimality over time. The models they explore provide a foundation for equilibrium theory and suggest useful ways for economists to evaluate and modify traditional equilibrium concepts.

By: Drew Fudenberg (Harvard University), David K. Levine (Economics/WUSTL)
Series edited by: Ken Binmore (Emeritus Professor of Economics University College London)
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm, Spine: 28mm
Weight: 395g
ISBN: 9780262529242
ISBN 10: 0262529246
Series: Economic Learning and Social Evolution
Pages: 294
Publication Date: 03 June 1998
Recommended Age: From 18 years
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

Drew Fudenberg is Professor of Economics at MIT. David K. Levine is John H. Biggs Distinguished Professor of Economics at Washington University, St. Louis.

Reviews for The Theory of Learning in Games

"""This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work.""--Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin & quot; This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work.& quot; -- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin "" This book collects the essential existing results in the fast-paced field of learning and evolutionary game theory together with new work by two leaders in the field. It will be essential to anyone doing theoretical work on learning and games or using evoultionary game theory in applied work."" -- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin -- Larry Samuelson, Antoine Augustin Cournot Professor of Economics, University of Wisconsin"