05041nam a22006135i 4500 978-981-99-5285-4 DE-He213 20251030112607.0 cr nn 008mamaa 240701s2024 si | s |||| 0|eng d 9789819952854 978-981-99-5285-4 10.1007/978-981-99-5285-4 doi QA269-272 PBUD bicssc MAT011000 bisacsh PBUD thema Sakai, Yasuhiro. author. aut http://id.loc.gov/vocabulary/relators/aut 79822 Games, Decisions, and Markets [electronic resource] / by Yasuhiro Sakai. 1st ed. 2024. Singapore : Springer Nature Singapore : Imprint: Springer, 2024. XVI, 232 p. 81 illus. online resource. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda New Frontiers in Regional Science: Asian Perspectives, 2199-5982 ; 74 Part Ⅰ Games -- Chapter 1. Von Neumann, Morgenstern, and Theory of Games : Critical Reassessment of Zero-Sum Games -- Chapter 2. Reassessing Zero-Sum Games : Various Types of Matching Pennies -- Chapter 3. Non-Zero-Sum Games and Nash Equilibriums : Applications to Generation Gaps Problems -- Part Ⅱ Decisions -- Chapter 4. Consumer Decisions and Revealed Preference : Reevaluating Samuelson's Foundations of Economic Analysis -- Chapter 5. Revealed Favorability and Indirect Utility : A Modern Approach -- Chapter 6. Producer Decision and Input Demand Theory : An Axiomatic Approach -- Chapter 7. Substitution and Expansion Effects in Production : The General Case of Joint Production -- Part Ⅲ Markets -- Chapter 8. Interdependence of Several Markets : The Hicks-Morishima Approach Reconsidered -- Chapter 9. International Trade under Risk : Comparative Static Analysis. This book critically discusses the historical backgrounds and new developments of the theories of games, decisions, and markets, with many possible applications to social and economic problems. Consisting of three connected parts, the book sheds new light on the role of merchants in the market economy under conditions of risk and uncertainty. Part I begins with the question of why and how John von Neumann and Oskar Morgenstern did joint work in game theory, namely, the theoretical study of strategic interactions among several decision makers. The duel between Sherlock Holmes and Professor Moriarty in Conan Doyle's famous detective story is recalled as a great inducement to Neumann and Morgenstern to invent zero-sum, two-person games. More general non-zero-sum games and associated Nash solutions are then discussed in relation to the generation-gap problem between a young couple and an elderly couple. Part II explores a set of very fundamental problems of individual decision making. The two famous axioms of revealed preference ― Samuelson's weak axiom and Houthakker's axiom ― are skillfully connected and empirically reevaluated by the introduction of certain regularity conditions. The revealed preference approach is then extended from the original commodity space to the dual price space. Such dual treatment in microeconomics is further applied to the theory of cost and production, with the decomposition of the total factor price effect into the substitution and scale effects. Part III turns the reader’s attention to the interdependence of several markets. The almost forgotten Hicks–Morishima approach is newly revived with graphical illustrations of traded goods. The well-known Jones–Kemp approach to international trade is boldly expanded into the world of risk and uncertainty. Some striking results in comparative static analysis are derived, with favorable implications for the real world. Game theory. Consumer behavior. 57391 Regional economics. 71042 Spatial economics. 71043 International economic integration. 68992 Globalization. 58818 International trade. 58158 Game Theory. Consumer Behavior. 57391 Regional and Spatial Economics. 71044 Emerging Markets and Globalization. 68993 International Trade. 58158 SpringerLink (Online service) Springer Nature eBook Printed edition: 9789819952847 Printed edition: 9789819952861 Printed edition: 9789819952878 New Frontiers in Regional Science: Asian Perspectives, 2199-5982 ; 74 72238 https://doi.org/10.1007/978-981-99-5285-4 ZDB-2-ECF ZDB-2-SXEF 61239 61239