Utility Theory and Nash Equilibrium Choice - An Exploration of Coordination and Cooperation Issues: An Exploration of Coordination and Cooperation Issues

Author: Li Baoming
Publisher:
Publish Date: 2003-08-01
Features: Starting from the economic agent characteristics of participants, the author introduces utility functions to reconstruct the game theory model. Through theoretical derivation and game experiments, the relationship between Nash equilibrium selection and participant risk types is demonstrated, and the selection methods of Harsanyi and Selten are supplemented and corrected. The multiplicity of Nash equilibrium is one of the major challenges in game theory, and research around this issue—refinement and selection of Nash equilibrium—constitutes an important development direction of modern game theory. The author, starting from the economic agent characteristics of participants, introduces utility functions to reconstruct the game theory model, demonstrating the relationship between Nash equilibrium selection and participant risk types through theoretical derivation and game experiments, and supplementing and correcting the selection methods of Harsanyi and Selten. The author also studies the problems of coordination and cooperation failure, exploring mechanisms for achieving coordination and cooperation. This book is suitable for senior undergraduate students, graduate students, doctoral students, university teachers, and researchers in the fields of economics and management, as well as theoretical and practical workers in other fields.