Legal Game Analysis (New Cover)

Author: (USA) Baye
Publisher:
Publish Date: 1999-10-01
Features: In 1944, mathematician John von Neumann and economist Oskar Morgenstern published the book Theory of Games and Economic Behavior, marking the birth of game theory. It has since evolved into a relatively complete theoretical system. From the perspective of academic classification, game theory is a branch of mathematics, primarily using mathematical methods to construct theories of human behavior. Human behavior theory serves as the theoretical foundation for all sciences that study human behavior from different angles, such as economics, law, sociology, and so on. Law, as a discipline that studies legal systems, is based on human behavior theory. Without a scientific theory of human behavior, studying institutional norms of human behavior would be like building a house in the air. Therefore, only by scientifically studying the laws of human behavior (including economic entities and social organizations) can we construct scientific and effective behavioral norms. Game theory is a crucial analytical tool for law. Just as game theory has comprehensively transformed economics, it will inevitably inject new vitality into the study of law. Game Theory and the Law can be considered a representative work in this field from the United States. This book employs the theoretical tools of game theory and information economics for the first time to enhance our understanding of how law works. Organized around the main solution concepts of game theory, the book reveals how well-known games such as the Prisoner's Dilemma, Battle of the Sexes, Beer-Egg-Condiment Game, and Rubinstein Bargaining can be used to illustrate various legal issues. Game Theory and the Law highlights the fundamental mechanisms at play and demonstrates the natural progression of the concept of games and related legal issues.