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Strategies and Games: Theory and Practice [Hardcover]

Prajit K. Dutta
3.7 out of 5 stars  See all reviews (3 customer reviews)
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Book Description

Feb. 16 1999 0262041693 978-0262041690 1

Game theory has become increasingly popular among undergraduate as well as business school students. This text is the first to provide both a complete theoretical treatment of the subject and a variety of real-world applications, primarily in economics, but also in business, political science, and the law. Strategies and Games grew out of Prajit Dutta's experience teaching a course in game theory over the last six years at Columbia University.The book is divided into three parts: Strategic Form Games and Their Applications, Extensive Form Games and Their Applications, and Asymmetric Information Games and Their Applications. The theoretical topics include dominance solutions, Nash equilibrium, backward induction, subgame perfect equilibrium, repeated games, dynamic games, Bayes-Nash equilibrium, mechanism design, auction theory, and signaling. An appendix presents a thorough discussion of single-agent decision theory, as well as the optimization and probability theory required for the course.Every chapter that introduces a new theoretical concept opens with examples and ends with a case study. Case studies include Global Warming and the Internet, Poison Pills, Treasury Bill Auctions, and Final Jeopardy. Each part of the book also contains several chapter-length applications including Bankruptcy Law, the NASDAQ market, OPEC, and the Commons problem. This is also the first text to provide a detailed analysis of dynamic strategic interaction.


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Product Description

About the Author

Prajit K. Dutta is Professor of Economics at Columbia University.

Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index
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Customer Reviews

3.7 out of 5 stars
3.7 out of 5 stars
Most helpful customer reviews
4.0 out of 5 stars Highly recommended May 31 2001
Format:Hardcover
This is definitely a very good introduction book. It is very accessible, while at the same time formalized enough to make it a good reference book.
It explains the results derived in a very intuitive manner, which I like a lot about this book. There is a straightforward, intuitive explanation provided for (almost) every result. The main points of every chapter are also outlined very nicely, the book has a great structure.
Another good thing is that the author quite often states straightforward questions right after claiming some result, like "..which leads us to ask...", or "...this begs the question of..." This is nice because it helps you keep track of what it is we are actually looking for or the general direction of the whole chapter.
The chapters are small, which I think is good because it allows the reader to get a sense of accomplishment rather often, great for motivation.
Unfortunately, there are no answers provided to the questions. If you are not bothered by that, then no problem. But I don't have that kind of dicipline, and I suspect most people don't, which is mostly why I took off one star. But on the other hand, I guess most other game theory texts don't provide answers either, so maybe I shouldn't hold it too much against it. All in all, it's a terrific book and game theory such a wonderful subject, so I can't but recommend it.
Was this review helpful to you?
Format:Kindle Edition|Verified Purchase
This is an excellent textbook on game theory. But in the ebook version that I bought, many of the formulas have missing parts and do not display correctly. I am using the kindle for mac application on a macbook. I am very disappointed after spending about $50 on this ebook.
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1 of 2 people found the following review helpful
5.0 out of 5 stars A great book for those interested in Game Theory March 30 2000
By A Customer
Format:Hardcover
This is a great book for getting a good start in game theory. The proofs are laid out very clearly, which makes the whole book much easier to follow. Many of the more difficult topics are explained through examples which makes the subjects more interesting, easier to follow, and better for later application on your own. I have gone through quite a number of game theory texts in the last few years and this one is by far the best I have seen for someone just starting out. I recommend this text highly for advanced undergrads and grad students who are just getting going in these topics. The dynamic game section was especially nicely done!
Was this review helpful to you?
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 3.4 out of 5 stars  7 reviews
44 of 46 people found the following review helpful
5.0 out of 5 stars A great book for those interested in Game Theory March 30 2000
By A Customer - Published on Amazon.com
Format:Hardcover
This is a great book for getting a good start in game theory. The proofs are laid out very clearly, which makes the whole book much easier to follow. Many of the more difficult topics are explained through examples which makes the subjects more interesting, easier to follow, and better for later application on your own. I have gone through quite a number of game theory texts in the last few years and this one is by far the best I have seen for someone just starting out. I recommend this text highly for advanced undergrads and grad students who are just getting going in these topics. The dynamic game section was especially nicely done!
25 of 26 people found the following review helpful
4.0 out of 5 stars Highly recommended May 31 2001
By "jankensgard" - Published on Amazon.com
Format:Hardcover
This is definitely a very good introduction book. It is very accessible, while at the same time formalized enough to make it a good reference book.
It explains the results derived in a very intuitive manner, which I like a lot about this book. There is a straightforward, intuitive explanation provided for (almost) every result. The main points of every chapter are also outlined very nicely, the book has a great structure.
Another good thing is that the author quite often states straightforward questions right after claiming some result, like "..which leads us to ask...", or "...this begs the question of..." This is nice because it helps you keep track of what it is we are actually looking for or the general direction of the whole chapter.
The chapters are small, which I think is good because it allows the reader to get a sense of accomplishment rather often, great for motivation.
Unfortunately, there are no answers provided to the questions. If you are not bothered by that, then no problem. But I don't have that kind of dicipline, and I suspect most people don't, which is mostly why I took off one star. But on the other hand, I guess most other game theory texts don't provide answers either, so maybe I shouldn't hold it too much against it. All in all, it's a terrific book and game theory such a wonderful subject, so I can't but recommend it.
19 of 19 people found the following review helpful
4.0 out of 5 stars Open Yale text - very good reference Jan. 20 2009
By W. French - Published on Amazon.com
Format:Hardcover
I am taking Game Theory through the Open Yale online course, and this is one of the recommended texts. If it has been a few years since you took your math and economics, you may find this heavy going. But, with the lectures and the class notes one can work through it.

The text is well organized, covers all the major topics you would expect, and complements the lectures well. It is definitely geared toward multiple constituencies and is suitable for economics buffs as well as politics and MBA types. Cases range from classic games to the WWI trenches to business and economics. Very engaging.
3 of 3 people found the following review helpful
1.0 out of 5 stars Kindle edition does not display mathematical operators Aug. 22 2013
By B. Atwater - Published on Amazon.com
Format:Kindle Edition|Verified Purchase
This review is for the kindle edition. My copy does not display all the mathematical operators, at least not on the PC, Mac or iPad versions. The text renders fine but any math is difficult.
2 of 2 people found the following review helpful
5.0 out of 5 stars An ideal beginners guide to game theory Oct. 13 2009
By 1000Books - Published on Amazon.com
Format:Hardcover
This book is the perfect mix of slow enough for beginners and math-enough for those that are more advanced. The examples used are clear and easy to follow. There are problems worked out in each chapter and plenty of additional exercises, so that a person can check their understanding.

Also, as the book continues, it gets complicated enough that those with a more advanced understanding can still find it challenging. Still, even with the more difficult math, there isn't a massive increase in jargon usage.

The examples are actually something that most people can relate to. I really think, with the most basic of math and statistics, a person could conceptually - and in practice - get something from this piece. Definitely a great text if you have a mixed class of students.
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