Game Theory: Analysis of Conflict

Book Description

Eminently suited to classroom use as well as individual study, Roger Myerson's introductory text provides a clear and thorough examination of the models, solution concepts, results, and methodological principles of noncooperative and cooperative game theory. Myerson introduces, clarifies, and synthesizes the extraordinary advances made in the subject over the past fifteen years, presents an overview of decision theory, and comprehensively reviews the development of the fundamental models: games in extensive form and strategic form, and Bayesian games with incomplete information.

Game Theory will be useful for students at the graduate level in economics, political science, operations research, and applied mathematics. Everyone who uses game theory in research will find this book essential.

Customer Reviews:

Good stuff.......2007-10-18

excellent book,very comprehensive step by step approach.I especially enjoyed the sections on Nash equilibria and infinite strategies.Great for those who wish to understand the underlying foundations of decision making via both simple and intricate mathematics. The concepts are also explained well in english through generally understood examples.

Masterpiece.......2004-03-24

This book is a masterpiece: it goes from the simple and straightforward (with examples of sequential equilibria) to technical and challenging material (such as the Mertens-Zamir type space). I own Fudenberg-Tirole and Osborne-Rubinstein, but it is Myerson that gets picked up the most. What I find most rewarding is that Myerson introduces everything gently, working from examples to build a general theory.

not bad.......2003-06-07

very comprehensive book. Covers pretty much everything. It's supposed to be a graduate text but undergrads can handle it as long as they know some math and aren't too scared by all the notation. Oh and Myerson is nice guy too.

still on the frontier because of disinformation.......2003-02-09

This book is not good only because it explains all well known difficult concepts which noone so far has been able to explain clearly and rigourosly in one book but for new important topics that are less known for the majority of game theorists. I'm refering to the idea of networks and cooperation structures and also cooperation under uncertainty with the idea of virtual utility.

An Elegant and Deep Treatment.......2000-06-13

I just completed a game theory book (Game Theory Evolving, Princeton University Press, 2000). To find the best way to present various materials, I went through virtually every game theory book in existence. For the presentation of the basic material on normal and extensive form games, nothing even came close to this book in clarity of presentation and depth of understanding of the issues. Most textbooks, even highly touted ones that are mathematically challenging, do not even come close, and rarely even present the material in a coherent form at all.

I used to do a lot of carpentry, and I always knew the good carpenters from the run of the mill. The latter talk about how to build stuff. The good ones talked about how you choose, preserve, treat, and sharpen your tools. Myerson is, for game theory, like the good carpenter, and this book is more about the nature of the tools of game theory than their deployment--although it is certainly that, too.

Book Description

Recorded history is a finely-woven magic fabric of intricate lies about events predating the sixteenth century. There is not a single piece of evidence that can be reliably and independently traced back earlier than the eleventh century. This book details events that are substantiated by hard facts and logic, and validated by new astronomical research and statistical analysis of ancient sources.

Customer Reviews:

Has history been tampered with?.......2007-10-23

Watch Video Here: http://www.amazon.com/review/RAZQNMXM4M9CL Has history been tampered with? Yes, it has! Did events and eras such as the crucifixion of Jesus Christ, the Roman Empire , the Dark Ages, and the Renaissance, actually occur within a very different chronology from what we've been told? Yes, they certainly did!

The history of humankind is both drastically shorter and dramatically different than generally presumed.

Why is it so? On one hand, it was usual custom to justify the claims to title and land by age and ancestry, and on the other the court historians knew only too well how to please their masters. The so called universal classic world history is a pack of intricate lies for all events prior to the 16th century. World history as we learn it today was entirely fabricated in the 16th-18th centuries. It's likely that nobody told you before, but

there is not a single piece of firm written evidence or artefact that is reliably and independently dated prior to the 11th century.

Naturally, after what you've learned in school and university, you will not easily believe that the classical history of ancient Rome, Greece, Asia, Egypt, China, Japan, India, etc., is manifestly false.

You will point accusing finger to the pyramids in Egypt, to the Coliseum in Rome and Great Wall of China etc., and claim, aren't they really ancient, thousands of years ancient? Well, there is no valid scientific proof that they are older than 1000 years!

The oldest original written document that can be reliably dated belongs to the 11th century!

New research asserts that Homo sapiens invented writing (including hieroglyphics) only 1000 years ago. Once invented, writing skills were immediately and irreversibly put to the use of ruling powers and science.

The consensual chronology we live with was essentially crafted in the 16th century by the Jesuits.

The world history was compiled from contradictory mix of innumerable copies of ancient Latin and Greek manuscripts and other irrefutable proofs delivered by late mediaeval astronomers that were cemented by the authority of writings of the Church Fathers.

Early in life, we learn about ancient history. Children love the magical lessons of history - they are like fairy tales. Teachers recite breathtaking stories; very soon We learn by heart the names and deeds of brave warriors, wise philosophers, fabulous pharaohs, cunning high priests and greedy scribes.

We learn of gigantic pyramids and sinister castles, kings and queens, dukes and barons, powerful heroes and beautiful ladies, emaciated saints and low-life traitors.

Ancient history is based documents, manuscripts, printed books, paintings, monuments and artefacts - called primary sources.

The problem is that neither these ancient documents, nor events described therein can be irrefutably dated, moreover they contradict each other for the most part.

When a school textbook tells us that Genghis Khan in year X or Alexander in year Y, have each conquered half of the world, it means only that it is so said in some of the written sources.

There are no answers to simple questions:

When were these primary sources written?

Where and by whom were these sources found?

It is wrongly presumed that ancient and medieval chronicles, written by Genghis Khan's or Alexander the Great contemporaries and eyewitnesses, are readily available. Actually, only sources written hundreds or even thousands of years after the events are there, compiled mostly in the 16th 18th centuries, or even later.

As a rule, these sources suffered considerable multiple manipulations, falsifications and distortions by editing. At the same time,

innumerable originals of ancient documents under various pretexts were destroyed in Europe under various pretexts.

The names of persons and geographical sites often changed meaning and location during the course of the centuries.

Geographical locations became clearly defined on maps only with the advent of printing.

This made possible the circulation of identical copies of the same map for purposes of the military, navigation, education and governance tasks.

Historians from Oxford say: "hey, everybody knows that Julius Caesar lived in the first century B.C.

`Julius Caesar' statement is only a point of view as

there is simply no irrefutable documentary proof that Julius Caesar or any other great name of antiquity ever existed.

Better than that - extremely rare sources that can be reliably dated back to the 10th-14th centuries A D, do not show the polished picture of classical history.

They show a picture both contradictory and confusing.

All methods of dating of ancient sources and artefacts are erroneous:

Radio-carbon C14 method produces dating with exactitude of plus minus 1500 years, therefore it is too crude for dating of events in historical timeframe!

The Almagest tractate, which lies as corner stone contemporary chronology, compiled in the 2nd century A D by Ptolemy, the founding father of astronomy, contains astronomical data of 9th to 16th century!

The Bronze Age,that has supposedly began 5000 years ago. Bronze is made of 90% copper and 10% tin, but the technology for tin extraction dates back to 14th century A D!.

All eclipses contained in manuscripts, like Thucydides one, relating 'ancient' events have exclusively medieval dating. All horoscopes cut in stone or painted in Egyptian temples, like Dendera have exclusively early medieval dating solutions.

Not quite what you have learned in school? Open your eyes, and, you will find sufficient proof to reach step by step the inevitable conclusion that the classical chronology is false and therefore, that the history of ancient and medieval world universally accepted today, is also false. Have a fresh outlook on everything said or printed about "ancient" and "enigmatic" Roman, Greek and Egyptian, medieval as well as all other "lost and found" civilizations.

Antiquity and Dark Ages are phantoms invented in the 16th 18th and polished in 19th 20thcenturies. Human civilization is in fact barely 1000 years old!

This book will change your perception of History forever!
What if Ancient Rome, Greece and Egypt were invented during Renaissance?
What if The Old Testament was a rendition of events of the Middle Ages?
What if Jesus Christ was born in 1053 and crucified in 1086 AD?
Sounds Unbelievable?
Not after you've read "History: Fiction or Science?" by Anatoly Fomenko, the genius mathematician.
Armed with astronomy and computers Anatoly Fomenko turns History into a rocket science.

Calculations are only as good as your numbers.......2007-08-03

Yes, we can all agree that mainstream history is nearly 100% BS due to politics, economics, ego, problems with dating techniques, and various conspiracies. Agreed. But, I've been researching the distinct possibility that human history (in terms of civilizations) are much more ancient than we've been told, so coming across this book was very interesting to me. I wondered how Fomenko could be wrong (if at all) because he is very persuasive in his presentations. Then it dawned on me. If at previous times in prehistory, due to the various catastrophies that are well documented (comets, asteroids, planetary disruptions, plasma discharge, pole reversals, etc) the Earth was in a different position in relation to the sun, different tilt on its axis, different orbit, different rotation (in terms of velocity and DIRECTION), and the continents were in different positions, then would this not cause the ancients to see the sky (constellations) differently? In other words, is Fomenko making erronious assumptions about the physics of the Earth in pre-history, which then corrupt his data with regards to dating the relevant astrology? The last event to seriously disrupt our planet occured roughly 3500 years ago, according to other good researchers, so is it possible Fomenko has been confused by this? The vastly different physics of our planet in the not so distant past may explain this confusion, which is not to say the "mainstream" version of history is correct; on the contrary. I am not an expert in these fields, but wanted to see if this idea could spark discussion.

Pants on fire?.......2007-07-19

Will people ever read before spamming? Yes, Jesuits could not rewrite world history alone, they had help. Anyway, Dr Prof Acad A.Fomenko does not point to jesuits as the driving force of world wide history manipulation in published volumes 1,2,3;, actually he barely mentions the poor devils. Check it with 'Search inside' feature, please. China is rarely mentioned either, in fact, Dr Fomenko is completely eurocentric. Right, his theory contradicts all mainstream schools of history, because in their actual state they are all built on blatantly erroneus chronology. You don't need a mysterious cabal (conspiracy) to falsify history, the falsification is its modus operandi. It is inherent to history(ians) to falsify (distort) events, as it is inherent to humans to boast as it is inherent to power (authority) to legimize itself by referrring to glorious past made to its own order. Dr Prof Fomenko and team have identified scores of instances of such manipulation in Russian, European, etc.. history, and delivered valid statistical proof thereof. His own 'reconstruction' is completely another story. Forget c14 as a valid method of dating. W.Libby has initially discovered a brilliant method of INDEPENDENT dating. Too bad, c14 method has become a joke after a forced marrige with dendrochronology with consensual chronological scale inbuilt. Radiocarbon method can't stand blind tests, but is so very productive as a rubberstamp.

Accepted History & Chronology Must Be Changed. .......2007-04-09

There is no doubt that history as most know it is a sham, & institution's version of History both University & Church is fradulent & inaccurate. Everything was established with an agenda, The real "Dark Ages" are now when we have access to incredible amounts of information past authorities & more important 'common folk' didn't have but our institutions & educators are slow to evolve because of what has ignorantly & arrogantly been taught for too long. This is on many subjects not just Chronology.

For anyone to question "Why would a Mathematician have anything credible to say of History?" The answer is from Dr. Fomenko's preface in the book: "It would be worthwhile to remind the reader that in the XVI-XVII century Chronology was considered to be a subdivision of Mathematics." These volumes could possibly be some of the most important works to date & should be read by everyone with an interest in History, especially professors & educators who have a duty to the public. I have read both books & must say that 'Chronology 1' has some very eye opening & revolutionary information. Even if these volumes are part true the implications are profound & opens the doors to further investigations & questions which must be done. I speak several different lanquages & must say the logic Dr. Fomenko uses with "inflection" of words & words being read from left to right in one region & right to left in another then written backwards, the removal of vowels & get down to basics of words, or different cities & locations having the same name etc. is correct. Vowel usage has always been optional & varied, actually complicating linquistics & study. The first thing one has to understand is that words never had a fixed spelling in history like we do now, the spelling of words was mutable & regional, as well as names & titles of people were vast, varied & changed, NOTHING WAS FIXED or understood linear. Matters of Life & Death as well as financial profiteering yesterday & today were & are made with ignorant, illogical & conspiratorial views of history & reality, it's time people get closer to the Truth & society collectively grow up.

Very Interesting.......2007-03-07

It is a good proposal and I believe it will mature into something even better in the future. I think it deserves to be read.

Game Theory: A Non-Technical Introduction to the Analysis of Strategy

Average customer rating:

Examples

Game Theory: A Non-Technical Introduction to the Analysis of Strategy
Roger McCain
Manufacturer: South-Western College Pub
ProductGroup: Book
Binding: Hardcover

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ASIN: 0324175728

Book Description

The objective of this text is to teach game theoretic principles by example in order to convey the concepts in a non-technical way. Game theoretic principles are the same across a wide field of applications, yet students typically find examples in their own fields easier to relate to. This book focuses on providing a true interdisciplinary perspective that draws upon applications from many different areas of study such as management, strategic planning, competitive intelligence, military operations, economics, political science, finance, etc.

Customer Reviews:

Examples.......2007-05-08

The book makes good use of examples and follows many common examples as the learning progresses throughout the book. Chapters are broken up into managable pieces coupled with end of chapter learning exercises. The text and charts do contain a number of errors.

Two-Sided Matching: A Study in Game-Theoretic Modeling and Analysis (Econometric Society Monographs)

Average customer rating:

practical and clear and covers material you don't see very o

Two-Sided Matching: A Study in Game-Theoretic Modeling and Analysis (Econometric Society Monographs)
Alvin E. Roth , and Marilda A. Oliveira Sotomayor
Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Paperback

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ASIN: 0521437881

Book Description

Two-sided matching provides a model of search processes such as those between firms and workers in labor markets or between buyers and sellers in auctions. This book gives a comprehensive account of recent results concerning the game-theoretic analysis of two-sided matching. The focus of the book is on the stability of outcomes, on the incentives that different rules of organization give to agents, and on the constraints that these incentives impose on the ways such markets can be organized. The results for this wide range of related models and matching situations help clarify which conclusions depend on particular modeling assumptions and market conditions, and which are robust over a wide range of conditions.

Customer Reviews:

practical and clear and covers material you don't see very o.......2005-02-11

This book is totally dedicated to matching theory. The book in itself is rather general, it doesn't focus on any particular application, and discusses matching as a general abstract theory. Therefore the book can be used by both micro- and macro people equally. It basically covers the problem of one-to-one and one-to-many matchings and tries to explain when equilibriums exist and if matches are unique or non-unique and comes with algorithms or constructive methods to actually do the matching. The structure of the book is mostly like math books and at each step presents an algorithm or a theorem or lemma that states a result. In most cases the proof comes afterwards. However this doesn't undermine the practicality of the book as you can easily locate the algorithm or theorem that embodies your required result and just use it. In my opinion this is one of those books you want to keep on your shelf and refer to every now and then when need be.

Finding the Edge: Mathematical and Quantitative Analysis of Gambling (Institute of Gambling & Commercial Gaming)

Average customer rating:

Good book...a bit dated.

Finding the Edge: Mathematical and Quantitative Analysis of Gambling (Institute of Gambling & Commercial Gaming)

Manufacturer: University of Nevada, Reno Bureau of Business
ProductGroup: Book
Binding: Hardcover

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ASIN: 0942828402

Customer Reviews:

Good book...a bit dated........2004-07-01

Contributors
Preface By William R. Eadington
Acknowledgements By Judy A. Cornelius
Sect. 1. Studies on the Mathematical Methodology of Gambling Games in Casinos
Analysis of a Gambling System By S. N. Ethier
Playing in Real Games By Thomas C. Roginski, Carlson Chambliss
Casino Card Shuffles: How Random are They? By Robert Hannum
Cardroom Theory-A Two Way Street By Donna Harris, Mason S. Malmuth

Sect. 2. Blackjack Papers
A Study of Index Rounding in Card-Counting By Ken Fuchs, Olaf Vancura
A Computer Teaches Itself to Play Blackjack By Olaf Vancura
Blackjack Subsets: Software for the Study of Blackjack, and an Application to Resplitting on Six Deck Blackjack By William G. Hawkins
Does Basic Strategy Have the Same Expectation for Each Round? By Edward O. Thorp

Sect. 3. Variations on Blackjack
A New Sidebet for Blackjack: Hedging Against Stiffs By Linda M. Woodland, Bill M. Woodland
The Quality of Blackjack Play in Australian Casinos By Michael B. Walker, Sylvana Sturevska, Duncan Turpie

Sect. 4. Kelly
The Kelly Criterion in Blackjack, Sports Betting, and the Stock Market By Edward O. Thorp
Can You Do Better than Kelly in the Short Run? By Sid Browne
Limitations on Kelly or the Ubiquitous "n "approaches" "infinity"" By John E. Leib

Sect. 5. New Games and Wagers
Blackjack: Betting the Klondike's "Free Ride" By Peter Griffin, Edward O. Thorp
An Analysis of Caribbean Stud Poker By Peter Griffin, John M. Gwynn, Jr.
Double Hand Marquez-A Derivative of Blackjack and Pai Gow By John M. Gwynn, Jr.
A Really Hard Hardway Bet By Donald E. Catlin
A Detailed Study of Pai Gow By John M. Gwynn, Jr.
Using Overall Expected Return per Dollar Risked to Determine Strategy Decisions in Gambling Games By Donald E. Catlin

Book Description

This monograph presents a complete and rigorous study of modern functional analysis. It is intended for the student or researcher who could benefit from functional analytic methods, but does not have an extensive background and does not plan to make a career as a functional analyst. It develops the topological structures in connection with measure theory, convexity, Banach lattices, integration, correspondences (multifunctions), and the analytic approach to Markov processes. Many of the results were previously available only in works scattered throughout the literature. The choice of material was motivated from problems in control theory and economics, although the material is more applicable than applied.

Customer Reviews:

An excellent treatment of mathematical methods for economist.......1998-10-20

The monograph covers advanced mathematical methods for economists. It includes chapters on general topology, topological vector spaces, Riesz spaces and Banach lattices, measure and integration, etc. While the book does not contain (hardly) any economics, the mathematics covered is selected under the aspect of later applications to economics. The book contains for example a long chapter on correspondences, a topic which is hardly covered by any standard math book. The presentation of the mathematics is throughout clear and precise. The advantage of the book is that it covers a wide range of mathematical topics, which could not be found together in a book before. Graduate students in economic theory can use it as a text book, but it can also be used as a reference book. The only lacks of the book are that there are no exercises and that not all math areas important to economics (e.g. differential topology) are covered. Overall, this is an excellent book and should become part of the library of everybody interested in mathematical economics.

Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management (Advanced Textbooks in Economics)

Average customer rating:

Great clear textbook
Chiang's book is best.
A must book for every serious economics student

Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management (Advanced Textbooks in Economics)
Morton I. Kamien , and Nancy L. Schwartz
Manufacturer: Elsevier Science
ProductGroup: Book
Binding: Hardcover

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ASIN: 0444016090

Book Description

The long awaited second edition of Dynamic Optimization is now available. Clear exposition and numerous worked examples made the first edition the premier text on this subject. Now, the new edition is expanded and updated to include essential coverage of current developments on differential games, especially as they apply to important economic questions; new developments in comparative dynamics; and new material on optimal control with integral state equations.

The second edition of Dynamic Optimization provides expert coverage on:- methods of calculus of variations - optimal control - continuous dynamic programming - stochastic optimal control -differential games. The authors also include appendices on static optimization and on differential games.

Now in its new updated and expanded edition, Dynamic Optimization is, more than ever, the optimum choice for graduate and advanced undergraduate courses in economics, mathematical methods in economics and dynamic optimization, management science, mathematics and engineering.

New features of Dynamic Optimization will show students:advances in how to do comparative dynamics; how to optimally switch from one state equation to another during the planning period; how to take into account the history of the system governing an optimization problem through the use of an integral state equation; and how to apply differential games to problems in economics and management sciences.

Customer Reviews:

Great clear textbook.......2007-01-27

I believe this was the first textbook to introduce dynamic optimization to economists. It's simply and clearly written. Each chapter introduces a new development, goes into the theory behind it and gives examples, in just a few pages so you can go through it in bite-sized chunks. The style is unfussy but doesn't talk down to you. Two appendices explain important theorems in calculus and differential equations, briefly but in enough detail to be usable if you aren't familiar with those parts of the maths. This is an excellent textbook, although I can't compare it with the competition.

Chiang's book is best........2001-05-04

This book is decent, but I think that Chiang book is better that this book, I recommend "Elements of Dynamic Optimization" from Alpha Chiang (ISBN: 157766096X), it's better.

A must book for every serious economics student.......2001-02-15

There is no doubt that to master in advanced economics one should have a firm grasp on mathematical tools. Kamien and Schwartz's Dynamiz Optimization is the perfect book to this end. Actually it deserves a rating more than five stars.

Gaming the Market: Applying Game Theory to Create Winning Trading Strategies (Wiley Finance)

Average customer rating:

Something different for the experienced trader
Don't waste time and money on this book!
An Honest Work
This book is complete garbage
Misleading, Wrong, Oversimplified...

Gaming the Market: Applying Game Theory to Create Winning Trading Strategies (Wiley Finance)
Ronald B. Shelton
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0471168130

Book Description

Gaming the Market: Applying Game Theory to Create Winning Trading Strategies is the first book to show investors how game theory is applicable to decisions about buying and selling stocks, bonds, mutual funds, futures, and options. As a practical trading guide, Gaming the Market will help investors master this revolutionary approach, and employ it to their advantage.

Although game theory has been studied since the 1940s, it has only recently been applied to the world of finance. Game theory champions garnered the 1994 Nobel Prize in Economics, and, today, this theory is used to analyze everything from the baseball strike to FCC auctions. Increasingly, game theory is making its mark as a potent tool for traders. In Gaming the Market, economist Ronald B. Shelton provides a model that enables traders to predict profitability and, as a result, make effective buy and sell decisions.

Stated simply, game theory is the study of conflict based on a formal approach to decision making that views decisions as choices made in a game. Whether playing individually or in a group, each player in a conflict has more than one course of action available to him, and the outcome of the "game" depends on the interaction of the strategies pursued by each. Shelton offers real-world examples that reveal how the principles of game theory drive financial markets —and how these same principles can be used to develop winning investment strategies. Through Shelton's organized and precise explanations—he uses familiar games such as chess and checkers to illustrate his points —readers gain a solid understanding of the key principles of game theory before applying them to actual financial market situations.

Gaming the Market examines the interaction between price fluctuations and risk acceptance levels and gradually constructs a game theory model which proves that there are probability-based formulas for determining the profitability of any given trade.

With appendixes on T-Bond futures, mathematical representations of the model, and QuickBasic code for calculating relative frequencies, Gaming the Market provides a thorough overview of the rules and strategies of game theory. This indispensable reference will prove invaluable to novice and seasoned players alike.

Are the markets a game? What are the rules? Who are the players?

How can you, as a player, come up with a winning strategy?

Now, acclaimed economist Ronald B. Shelton shows you how to master the power of game theory in the first trader's guide to this revolutionary approach to investment decisions!

"It's not often that a refreshingly new idea appears in the field of trading strategies or risk management, but Ronald B. Shelton has taken pieces from game theory and betting strategies and transformed them into a new, visual way to make trading decisions. . . . He has been able to put a value on trading situations which can increase your ability to manage risk as well as clarify expectations —both essential ingredients for success." —from the Foreword by Perry Kaufman author of The New Commodity Trading Systems and Methods.

"Gaming the Market is a very welcome and most useful new guide to playing profitably in the biggest and most complex game ever devised — speculating in the financial markets. Investors and traders who study this book will gain valuable insights into the real nature of the markets and will learn how to play the game to win." —Thomas A. Bierovic, President, Synergy Futures.

"Ronald B. Shelton has extended the field of excursion analysis with an innovative and provocative book that is sure to be widely read—and controversial. By examining the actual distributions of price excursion, he shows a technique to estimate your odds going in on a new position, and within the context of game theory, how to evaluate those chances. All traders and analysts seeking objective bases for trading will want to read this book." —John Sweeney, Technical Editor, Technical Analysis of Stocks and Commodities magazine.

Customer Reviews:

Something different for the experienced trader.......2004-12-13

If you're an experienced trader with an aptitude for system development and computer modeling, this book will provide you with a unique perspective on the market.

For those who want cookie-cutter shortcuts to trading success, this book is not for you. This book does not contain "cut and paste" formulas for some whiz-bang indicator nor does it include code for TradeStation or MetaStock that you can just plug in and use. Instead, the author presents a different perspective on understanding and analyzing behavior, and although this approach may not represent orthodox game theory, it is a thought provoking approach, especially for someone (like me) who has probably read over a hundred books on trading and technical analysis.

You should note, however, that after reading and reviewing the concepts presented herein, applying them will take real effort - I'm not aware of any commercially available trading package that can generate and apply the data used in this approach. Also note that the examples presented in this book relate to day trading although I believe the principles are applicable on any type of market.

The major shortcoming of this book is the sparse real-life trading examples - more of those would have been very helpful. Nonetheless, as one veteran trader told me, "Whenever you read a book on trading, if it only gives you one new idea, then it's worth reading."

This book is definitely worth reading for the experienced trader.

Don't waste time and money on this book!.......2003-10-27

I waste my time to read this book which I borrowed from library. Anyone who trade more than six months will find nothing valuable in the book. I am surprised that John Wiley & Sons, which has a lot good books on trading and finace, would publish this book.

An Honest Work.......2002-03-09

This book contains a research work done by a practitioner. It maily used the theory of probability and the assumption of normal or lognormal distribution of the market prices, though with some game theory interpretations. I have to say that it is an honest and interesting work. Also it is inspiring for further study in that direction. There are also some disappointments: i) the mathematics and the overall material are presented poorly; ii) some of the results need more clarification and explanations, and are not complete at the level as published.
As ironic as it sounds, I was drawn into reading the book after I read the previous negative reviews on this board. I would say that those comments are either irrelevant, or ignorant. Any one interested in developping a feasible trading system could learn something from this book.

This book is complete garbage.......1999-10-10

The author is obviously in way over his head. This pathetic mockery of game theory is filled with errors. I'll only present the two most egregious ones:1.Incredibly, the author doesn't seem to realize that the probability of a major adversity (as defined in the book) is greater than or equal to the probabilty of a minor adversity. This restricts the applicable section of his model.2.The slope for determining profitable trades (according to the author's model) is given by (w+x)/(y-x). By choosing x arbitrarily close to y the slope can be infinite.Conditions 1 and 2 imply that a profitable trade on any and all stocks can be made under any market conditions with no risk whatsoever.This inept, incompetent book is so bad that it casts doubt upon the entire line of technical books from Wiley and Sons and their editorial process.

Misleading, Wrong, Oversimplified..........1998-12-27

The author confuses game theory with decision theory. The model has nothing related with game theory in it. The author defines the whole market as a game between the speculator and the remaining market, but does not take the remaining market's (the second player's) utility into consideration. Therefore the market's strategies are not utility-dependent but history-dependent which contradicts with the notion of game theory. This makes the model a simple choice selection of the speculator from just two alternatives faced with a market-move guess, not an equilibrium analysis as should be in a game-theoretic approach. Simply DO NOT WASTE YOUR MONEY by buying this book, and if you don't know much about game theory, don't read this book even if it was for free as you will misunderstand what game theory is.

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Negotiation Analysis

Manufacturer: University of Michigan Press
ProductGroup: Book
Binding: Hardcover

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Mind and Heart of the Negotiator, The (3rd Edition)

ASIN: 0472102516

Book Description

A much-needed study of the ins and outs of negotiation

Negotiation Analysis: The Science and Art of Collaborative Decision Making

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The reference in Negotiation.
The Definitive Treatise on Negotiation Analysis
Remarkable book for negotiators

Negotiation Analysis: The Science and Art of Collaborative Decision Making
Howard Raiffa
Manufacturer: Belknap Press
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Binding: Hardcover

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ASIN: 0674008901

Book Description

This masterly book substantially extends Howard Raiffa's earlier classic, The Art and Science of Negotiation. It does so by incorporating three additional supporting strands of inquiry: individual decision analysis, judgmental decision making, and game theory. Each strand is introduced and used in analyzing negotiations.

The book starts by considering how analytically minded parties can generate joint gains and distribute them equitably by negotiating with full, open, truthful exchanges. The book then examines models that disengage step by step from that ideal. It also shows how a neutral outsider (intervenor) can help all negotiators by providing joint, neutral analysis of their problem.

Although analytical in its approach--building from simple hypothetical examples--the book can be understood by those with only a high school background in mathematics. It therefore will have a broad relevance for both the theory and practice of negotiation analysis as it is applied to disputes that range from those between family members, business partners, and business competitors to those involving labor and management, environmentalists and developers, and nations.

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The reference in Negotiation........2007-05-05

This is a rich and complete book that touches all aspects of negotiation. The subtitle "The science and art of collaborative decision making" is might be even a better descriptor of the contents. The book has a certain scholar touch and is with 600 pages really comprehensive and more to be used as a reference than to be read in one sitting. For those that are more interested in a shorter book, "Co-opetition" might be a faster to read alternative that is quite in line with this book.

Professor Raiffa shows that negotiations and how to approach them depend mainly in how the structure of the negatiation is eg. integrative vs distributive. He proposes a very structured way to approach negotiations, being good prepared and looking for alternatives to an agreement before to have the freedom to forfeit the negotiation. Once meeting being creative working together with the other party helps to find those spots that are valued differently by the parties and offer possibility of common gains. Whether always the described Full Open Truthfull Exchange (FOTE) is possible might be doubted but it gives at least the yardstick how things could be. The author compares often diverse solutions and how the merit of each of them varies depending the criteria used, and what fairness in each case might be.

The book is divided in major themes that are gone through in detail, any of those can be read in an almost independent manner, without following the order in the book.
Part I. Fundamentals describes the basics of the books and what is the approach followed to structure negotiations. The Game Theory chapter is in itself an excellent summary on the theme and a nice introduction for those that never have been exposed earlier to the subject.
Part II. Two Party Distributive (Win-Lose) Negotiations. The type of negotiation we all think about as example is explained with plenty of details and examples, including a chapter on the particular case which are auctions.
Part III. Two Party Integrative (Win-Win) Negotiations. This is the second type of negotiation we think of. There are several exmaples of different problem types one can find, some as the repartition of goods has many practical applications for the majority of people in rela life situations and gives very practical insights.
Part IV. External Help. Describes what professional help can do for you in a negotiation, and what you ahould take into account before asking for help.
Part V. Many parties. Shows the complexity of negotiations of any type when a major number and how in that occasion agreements can be drafted.

In all chapters there are plenty of examples and information how people react in laboratory situations coming from the which gives the best approximation of real situations develop. Each chapter is closed with a summary of the core concepts which helps when one wants to review the book.

With the comprehensiveness of the book few things are missing or could have been mentioned additionally. The book has plenty of examples but I missed some exercises for the reader to prepare for the diverse points in each chapter. Two small misses that could be easily arranged are how to use decision trees to help finding alternatives and to mention some of the nice software packages that help to simulate random variables that affect decisions, eg Crystallball.

The Definitive Treatise on Negotiation Analysis.......2005-01-13

This is a wonderful book for serious practitioners and students of negotiation. It covers the negotiation waterfront so completely that this reader -- who is also a writer and negotiation prof -- is left wondering what more can be said on the subject. Unlike most pop negotiation books, this tome drills deep into qualitative and quantitative approaches to structuring and analyzing simple and complex negotiation situations. The quality of the writing is superb. The author's insights are profound, informed by years of experience in the field. The quantitative discussion can be a bit intimidating, especially to math-challenged readers. But even without the quantitiave material, it's well worth the price of admission.

Remarkable book for negotiators.......2003-01-22

This book has a real wow factor. I was amazed at how much ground it covers - game theory, pscyhology, decision analysis, negotiation stuff. There's a great balance of technical help with easy-to-read conversations between hypothetical negotiators making the tricky concepts easier to understand. You probably won't want to read it from cover-to-cover but every chapter has really useful insights on how to negotiate better with positive or negative counterparts.

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