Extractions: Anderson, Simon P., Jacob K. Goeree, and Charles A. Holt (1997) Anderson, Simon P., Jacob K. Goeree, and Charles A. Holt (2000) “Minimum Effort Coordination Games: An Equilibrium Analysis of Bounded Rationality,” Games and Economic Behavior , forthcoming. Keywords: experiments, game theory, logit equilibrium, coordination, learning, potential games, stochastic potential, evolution, quantal response. Abstract: This paper considers minimum-effort coordination games with a continuum of Pareto-ranked Nash equilibria. The introduction of noise yields a unique probability distribution of effort decisions that maximizes a stochastic potential function (expected value of the potential of the game plus entrophy). As the noise vanishes, the limiting distribution converges to an outcome that is analogous to the risk-dominant outcome in two-by-two games. In accordance with experimental evidence and economic intuition, the theory predicts that effort distributions decrease with increases in effort cost and the number of players, even though these parameters do not affect the set of Nash equilibria. Email Contact: sa9w@virginia.edu Andreoni, James, and John H. Miller (1995)
Reinhard Selten -- Facts, Info, And Encyclopedia Article reinhard selten. Categories Prize in Economics winners, Mathematicians, 1930births reinhard selten (born October 5, 1930) is a (A person of German http://www.absoluteastronomy.com/encyclopedia/r/re/reinhard_selten.htm
Extractions: Reinhard Selten (born October 5, 1930) is a (A person of German nationality) German (An expert in the science of economics) economist . For his advances in ((economics) a theory of competition stated in terms of gains and losses among opposing players) Game Theory Reinhard Selten won the 1994 (Click link for more info and facts about Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel) Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel , together with (Click link for more info and facts about John Harsanyi) John Harsanyi and (Click link for more info and facts about John Nash) John Nash . He is also well known for his work in (Click link for more info and facts about bounded rationality) bounded rationality , and can be considered as one of the founding fathers of (Click link for more info and facts about experimental economics) experimental economics
Extractions: Alvin E. Roth Two of the most important developments in Economics in the latter half of the twentieth century are surely the extraordinary progress in game theory and in experimental economics. Reinhard Selten is one of the pioneers in both of these endeavors, and he has been a leader in each of them throughout his career. This makes him unique: no one else in the world has made such important or such sustained contributions to both fields. This is all the more noteworthy because game theory and experimental economics have been intertwined since their beginnings. Indeed, Professor Selten cites the 1953 experimental paper by Kalish, Milnor, Nash, and Nering as one of the inspirations for his own first paper, his 1959 paper with Sauermann on an oligopoly experiment. But while several other pioneers of game theory were at least briefly involved in early experiments, only Selten was instrumental in developing both kinds of research to the point where, first game theory and more recently experimental economics too, have become part of the mainstream of economic research. The historical connection between game theory and experimental economics is a natural one, because game theory brought to economics a kind of theory that lent itself to experimental investigation, and in some cases demanded it. The reason is that game theory seeks to provide precise models of both individual behavior and of economic environments. This concern with the "rules of the game," the institutions and mechanisms by which transactions are made, together with precise assumptions about the behavior of individuals given the information available to them, gave rise to theories that could be tested in the laboratory.
Early History Of Experimental Economics Sauermann, Heinz and reinhard selten. 1960. An Experiment in Oligopoly, selten, reinhard. 1967b. Ein Oligopolexperiment mit Preisvariation und http://kuznets.fas.harvard.edu/~aroth/history.html
Extractions: It is reproduced here with permission (3/8/98, Steven Medema, Editor). A more comprehensive history, which also deals with the field after 1960, can be found in Roth, A.E. "Introduction to Experimental Economics," Handbook of Experimental Economics , John Kagel and Alvin E. Roth, editors, Princeton University Press, 1995, 3-109. ON THE EARLY HISTORY OF EXPERIMENTAL ECONOMICS Alvin E. Roth In the course of coediting the Handbook of Experimental Economics it became clear to me that contemporary experimental economists tend to carry around with them different and very partial accounts of the history of this still emerging field. This project began as an attempt to merge these "folk histories" of the origins of what I am confident will eventually be seen as an important chapter in the history and sociology of economics. I won't try to pin down the first economic experiment, although I am partial to Bernoulli (1738) on the St. Petersburg paradox. The Bernoullis (Daniel and Nicholas) were not content to rely solely on their own intuitions, and resorted to the practice of asking other famous scholars for their opinions on that difficult choice problem. Allowing for their rather informal report, this is not so different from the practice of using hypothetical choice problems to generate hypotheses about individual choice behavior, which has been used to good effect in much more modern research on individual choice.
Alibris: Gerd Gigerenzer by Gigerenzer, Gerd (Editor), and selten, reinhard (Editor) This book promotesbounded rationality as the key to understanding how real people make http://www.alibris.com/search/books/author/Gigerenzer, Gerd
ExploreCO reinhard selten The Thought Leader Interview. The Nobel Prize–winning Germaneconomist says understanding hindsight will improve foresight. http://www.manyworlds.com/exploreCO.aspx?coid=CO5260513203521
The Mathematics Genealogy Project - Reinhard Selten According to our current online database, reinhard selten has 2 students and 2descendants. We welcome any additional information. http://www.genealogy.math.ndsu.nodak.edu/html/id.phtml?id=56908
The Mathematics Genealogy Project - Update Data For Reinhard Selten If you have Mathematics Subject Classifications to submit for an entire group ofindividuals (for instance all those that worked under a particular advisor) http://www.genealogy.math.ndsu.nodak.edu/html/php/submit-update.php?id=56908
Gametheory SAUERMANN, Heinz und selten, reinhard (1962) Anspruchsanpassungstheorie der selten, reinhard (1978) The Chain Store Paradox. Theory an Decision 9, http://www.mpiew-jena.mpg.de/esi/explit.html
MPI Jena - Prof. Dr. Werner Güth reinhard selten meets the classics, in Understanding Strategic Interaction –Essays in Honor of reinhard selten (Eds. W. Albers, W. Güth, P. Hammerstein, http://www.mpiew-jena.mpg.de/esi/gueth/chapters.html
Extractions: , in: Entscheidungen in kleinen Gruppen (Hrsg. W. Albers, G. Bamberg und R. Selten), Mathematical Systems in Economics, Bd. 45 (1979), 57-89. The game theoretic approach , in: Food for all in a sustainable world: the IIASA Food and Agriculture Program (Hrsg. K. Parikh and F. Rabar), Laxenburg 1981, 70-72. Equilibrium point selection in a class of market entry games A dynamic game with macroeconomic investment decisions under alternative market structures Auctioning strategic roles to observe aspiration levels for conflict situations , in: Aspiration levels in bargaining and economic decisions (Hrsg. R. Tietz), Lecture Notes in Economics and Mathematical Systems, Berlin 1983, 217-230 (mit Bernd Schwarze). Egoismus und Altruismus - Eine spieltheoretische und experimentelle Analyse - Strategic power versus distributive justice - An experimental analysis of ultimatum bargaining - Deterrence and incomplete information - The game theory approach - , in: Modelling and analysis of arms control problems (Hrsg. R. Avenhaus, R.K. Huber, J.D. Kettele), Heidelberg 1986, 257-278. Auctioning ultimatum bargaining positions - How to act if rational decisions are unacceptable? -
RePEc by selten, reinhard, Abdolkarim Sadrieh, and Klaus Abbink RePEcbonbonsfb343 by Wulf Albers, Robin Pope, reinhard selten and Bodo Vogt http://www.inomics.com/cgi/repec?handle=RePEc:bon:bonsfb
Reinhard Selten - The Nobel Prize In Economics reinhard selten. For their pioneering analysis of equilibria in the theory of reinhard selten. External links. The Nobel Prize reinhard selten http://www.nobel-prize.org/EN/Economics/selten.htm
Reinhard Selten - The MIT Press The MIT Press online catalog contains descriptions of inprint and out-of-printbooks, current and past journals, online ordering/subscription options, http://mitpress.mit.edu/catalog/author/default.asp?aid=996
The Economist Reinhard Selten - Anagrams The economist reinhard selten anagrams. Rearranging the letters of The economistreinhard selten (Shared 1994 Nobel with Harsanyi and Nash) gives http://www.anagramgenius.com/archive/theeco17.html