The Theory of Money and Financial Institutions
The Theory of Money and Financial Institutions

Author: Martin Shubik

Publisher: MIT Press

Published: 1999

Total Pages: 472

ISBN-13: 9780262693110

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This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.

Twenty Lectures on Algorithmic Game Theory
Twenty Lectures on Algorithmic Game Theory

Author: Tim Roughgarden

Publisher: Cambridge University Press

Published: 2016-08-30

Total Pages: 356

ISBN-13: 1316781178

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Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.

The Theory of Corporate Finance
The Theory of Corporate Finance

Author: Jean Tirole

Publisher: Princeton University Press

Published: 2010-08-26

Total Pages: 657

ISBN-13: 1400830222

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"Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Mechanism Design, Behavioral Science and Artificial Intelligence in International Relations
Mechanism Design, Behavioral Science and Artificial Intelligence in International Relations

Author: Tshilidzi Marwala

Publisher: Elsevier

Published: 2024-07-23

Total Pages: 314

ISBN-13: 0443239835

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Recent advances in AI and Mechanism Design provide a vital tool for solving collective action problems, common in international relations. By using AI to optimize mechanisms for cooperation and coordination, we can better address issues such as climate change, trade, and security. Mechanism Design, Behavioral Science and Artificial Intelligence in International Relations shows readers how the intersection of Mechanism Design and Artificial Intelligence is revolutionizing the way we approach international relations. By using AI to optimize mechanisms, we can design better institutions, policies, and agreements that are more effective and efficient. Dr. Tshilidzi Marwala, United Nations University Rector and UN Under-Secretary General, presents the essential technologies used in Game Theory, Mechanism Design and AI and applies these to significant global issues such as interstate conflict, cybersecurity, and energy. International relations are a complex field, with many different actors and interests in play. By incorporating AI into our analysis and decision-making processes, we can better understand and predict the behavior of multiple actors and design mechanisms that take these behaviors into account, thereby producing more desirable and creative interdisciplinary approaches. The book presents real-world applications of these rapidly evolving technologies in crucial research fields such as Interstate Conflict, International Trade, Climate Change, Water management, Energy, cybersecurity, and global finance. - Provides insights for computer scientists, researchers, practitioners, and policymakers on how to develop practical tools to solve many complex problems in international relations, such as climate change, cybersecurity, and interstate conflict - Presents the necessary computer science, mathematical methods, and techniques in AI, game theory, mechanism design, and algorithm development - Includes real-world applications of AI and mechanism design in a wide variety of research topics, such as international conflict, international trade, climate change, water management, energy management, cybersecurity, and global finance

Fundamentals of Evolutionary Game Theory and its Applications
Fundamentals of Evolutionary Game Theory and its Applications

Author: Jun Tanimoto

Publisher: Springer

Published: 2015-10-23

Total Pages: 223

ISBN-13: 4431549625

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​This book both summarizes the basic theory of evolutionary games and explains their developing applications, giving special attention to the 2-player, 2-strategy game. This game, usually termed a "2×2 game” in the jargon, has been deemed most important because it makes it possible to posit an archetype framework that can be extended to various applications for engineering, the social sciences, and even pure science fields spanning theoretical biology, physics, economics, politics, and information science. The 2×2 game is in fact one of the hottest issues in the field of statistical physics. The book first shows how the fundamental theory of the 2×2 game, based on so-called replicator dynamics, highlights its potential relation with nonlinear dynamical systems. This analytical approach implies that there is a gap between theoretical and reality-based prognoses observed in social systems of humans as well as in those of animal species. The book explains that this perceived gap is the result of an underlying reciprocity mechanism called social viscosity. As a second major point, the book puts a sharp focus on network reciprocity, one of the five fundamental mechanisms for adding social viscosity to a system and one that has been a great concern for study by statistical physicists in the past decade. The book explains how network reciprocity works for emerging cooperation, and readers can clearly understand the existence of substantial mechanics when the term "network reciprocity" is used. In the latter part of the book, readers will find several interesting examples in which evolutionary game theory is applied. One such example is traffic flow analysis. Traffic flow is one of the subjects that fluid dynamics can deal with, although flowing objects do not comprise a pure fluid but, rather, are a set of many particles. Applying the framework of evolutionary games to realistic traffic flows, the book reveals that social dilemma structures lie behind traffic flow.

Financial Mathematics
Financial Mathematics

Author: Bruno Biais

Publisher: Springer

Published: 2006-11-15

Total Pages: 322

ISBN-13: 3540683569

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Financial Mathematics is an exciting, emerging field of application. The five sets of course notes in this book provide a bird's eye view of the current "state of the art" and directions of research. For graduate students it will therefore serve as an introduction to the field while reseachers will find it a compact source of reference. The reader is expected to have a good knowledge of the basic mathematical tools corresponding to an introductory graduate level and sufficient familiarity with probabilistic methods, in particular stochastic analysis.

Game Theory in Economics
Game Theory in Economics

Author: Ariel Rubinstein

Publisher: Edward Elgar Publishing

Published: 1990

Total Pages: 688

ISBN-13:

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During the 1980s, economic theory has been revolutionised by game theory. The game theory approach is now very widely used throughout the profession and has become a major tool for the construction of new economic models. It is the basic tool in the construction of a modern theory of industrial organisation and it has led to important developments in finance, labour economics and international trade. This major new collection - prepared by a leading international authority - is orientated towards researchers, professors and graduate students who are interested in the interface between game theory and economic theory. They include the seminal and most important recent papers on the development and application of game theory in economics.

Social and Economic Networks
Social and Economic Networks

Author: Matthew O. Jackson

Publisher: Princeton University Press

Published: 2010-11-01

Total Pages: 519

ISBN-13: 140083399X

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Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do. In Social and Economic Networks, Matthew Jackson offers a comprehensive introduction to social and economic networks, drawing on the latest findings in economics, sociology, computer science, physics, and mathematics. He provides empirical background on networks and the regularities that they exhibit, and discusses random graph-based models and strategic models of network formation. He helps readers to understand behavior in networked societies, with a detailed analysis of learning and diffusion in networks, decision making by individuals who are influenced by their social neighbors, game theory and markets on networks, and a host of related subjects. Jackson also describes the varied statistical and modeling techniques used to analyze social networks. Each chapter includes exercises to aid students in their analysis of how networks function. This book is an indispensable resource for students and researchers in economics, mathematics, physics, sociology, and business.