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020 _a9789819952854
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024 7 _a10.1007/978-981-99-5285-4
_2doi
050 4 _aQA269-272
072 7 _aPBUD
_2bicssc
072 7 _aMAT011000
_2bisacsh
072 7 _aPBUD
_2thema
100 1 _aSakai, Yasuhiro.
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
_979822
245 1 0 _aGames, Decisions, and Markets
_h[electronic resource] /
_cby Yasuhiro Sakai.
250 _a1st ed. 2024.
264 1 _aSingapore :
_bSpringer Nature Singapore :
_bImprint: Springer,
_c2024.
300 _aXVI, 232 p. 81 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aNew Frontiers in Regional Science: Asian Perspectives,
_x2199-5982 ;
_v74
505 0 _aPart 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.
520 _aThis 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.
650 0 _aGame theory.
650 0 _aConsumer behavior.
_957391
650 0 _aRegional economics.
_971042
650 0 _aSpatial economics.
_971043
650 0 _aInternational economic integration.
_968992
650 0 _aGlobalization.
_958818
650 0 _aInternational trade.
_958158
650 1 4 _aGame Theory.
650 2 4 _aConsumer Behavior.
_957391
650 2 4 _aRegional and Spatial Economics.
_971044
650 2 4 _aEmerging Markets and Globalization.
_968993
650 2 4 _aInternational Trade.
_958158
710 2 _aSpringerLink (Online service)
773 0 _tSpringer Nature eBook
776 0 8 _iPrinted edition:
_z9789819952847
776 0 8 _iPrinted edition:
_z9789819952861
776 0 8 _iPrinted edition:
_z9789819952878
830 0 _aNew Frontiers in Regional Science: Asian Perspectives,
_x2199-5982 ;
_v74
_972238
856 4 0 _uhttps://doi.org/10.1007/978-981-99-5285-4
912 _aZDB-2-ECF
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