Seems game theory is not very promising to be able to do strategic decisions. These startegies are not a big issue as is learning in agents. Econophysics on the other hand seems good.
Coming from physics, an old passion of mine, it focuses on heterogenous agents interacting in non equilibrium situations in economics. Examples include using mechanical equilibrium to explain general equilibrum theory, or using the Black-Scholes formula for pricing is similar to heat diffusion. Wikipedia although does say that the subject is not very favoured by economists.
Wednesday, 21 March 2007
Friday, 16 March 2007
Mathematical issues
Reading through von Neumann's book (page 47 onwards) games have taken a more mathematocal approach:
If game G has n players. Then for each player there will be a number of moves M1, M2,...,Mv .
For each move there would also exist alternates for moves a(1), a(2),...a(v).
These vary according to the moves or strategies being chosen.
Then comes a second scenario of a game of Poker P. The moves being played will differ is cheating is involved, one player known the moves or cards of the other players, OR if nobody is cheating.
If game G has n players. Then for each player there will be a number of moves M1, M2,...,Mv .
For each move there would also exist alternates for moves a(1), a(2),...a(v).
These vary according to the moves or strategies being chosen.
Then comes a second scenario of a game of Poker P. The moves being played will differ is cheating is involved, one player known the moves or cards of the other players, OR if nobody is cheating.
Monday, 12 March 2007
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