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The Infinite Game is a 2019 book by Simon Sinek, applying ideas from James P. Carse's similarly titled book, Finite and Infinite Games to topics of business and leadership. [ 1 ] The book is based on Carse's distinction between two types of games: finite games and infinite games.
In game theory and economics, a mechanism is called incentive-compatible (IC) [1]: 415 if every participant can achieve their own best outcome by reporting their true preferences. [ 1 ] : 225 [ 2 ] For example, there is incentive compatibility if high-risk clients are better off in identifying themselves as high-risk to insurance firms , who ...
A prototypical paper on game theory in economics begins by presenting a game that is an abstraction of a particular economic situation. One or more solution concepts are chosen, and the author demonstrates which strategy sets in the presented game are equilibria of the appropriate type.
Simon Oliver Sinek (born 1973) [2] is an English-born American author and inspirational speaker on business leadership. His books include Start with Why (2009) and The Infinite Game (2019). Early life and education
In economics and game theory, complete information is an economic situation or game in which knowledge about other market participants or players is available to all participants. The utility functions (including risk aversion), payoffs, strategies and "types" of players are thus common knowledge .
In economic theory, a strategic market game, also known as a market game, is a game explaining price formation through game theory, typically implementing a general equilibrium outcome as a Nash equilibrium. Fundamentally in a strategic market game, markets work in a strategic way that does not (directly) involve price but can indirectly ...
The Price of Anarchy (PoA) [1] is a concept in economics and game theory that measures how the efficiency of a system degrades due to selfish behavior of its agents. It is a general notion that can be extended to diverse systems and notions of efficiency.
In theoretical economics, an abstract economy (also called a generalized N-person game) is a model that generalizes both the standard model of an exchange economy in microeconomics, and the standard model of a game in game theory.