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Issue No.06 - Nov.-Dec. (2012 vol.27)
pp: 76-80
Michael Wooldridge , University of Oxford
ABSTRACT
Given the current level of international interest in game theory and its applications in AI and computer science, it seems worth pausing to consider whether game theory actually works. This article considers the evidence available in support of the two most common interpretations of game theory: the descriptive interpretation, which considers game theory as trying to predict actual behavior, and the normative interpretation, which considers game theory as providing advice on how to act optimally.
INDEX TERMS
Game theory, Artificial intelligence, Behavioral science, behavioral economics, game theory, effectiveness of game theory, descriptive game theory, normative game theory
CITATION
Michael Wooldridge, "Does Game Theory Work?", IEEE Intelligent Systems, vol.27, no. 6, pp. 76-80, Nov.-Dec. 2012, doi:10.1109/MIS.2012.108
REFERENCES
1. K. Binmore, Does Game Theory Work? The Bargaining Challenge, MIT Press, 2007.
2. M.M. Flood, “Some Experimental Games,” research memorandum RM-789, RAND Corp., 1952; www.rand.orgpubs/.
3. K. Binmore, Playing Fair, MIT Press, 1994.
4. D. Kahneman and A. Tversky, “Prospect Theory: An Analysis of Decision under Risk,” Econometrica, vol. 47, no. 2, 1979, pp. 263–292.
5. P. Klemperer and K. Binmore, “The Biggest Auction Ever: The Sale of the British 3G Telecom Licenses,” working paper, University College London, 2001.
6. M. Tambe, Security Games, Cambridge Univ. Press, 2012.
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