Playing Against Nature

Download or read book Decision-making Under Uncertainty written by Tapan Biswas and published by Palgrave Macmillan. This book was released on 1997 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book systematically develops essential concepts in the economics of uncertainty and game theory. It also presents new ideas for further research. The first part deals with the economics of uncertainty, including a discussion of expected utility theory and non-expected utility theories, insurance market, portfolio analysis, principal-agent theory, as well as ethical issues presented in the context of choice under uncertainty. The second part develops an understanding of game theory as a tool for analysing the interactive decision-making process.