Game Theory: An Introduction, 2nd Edition by E.N. Barron - Book review

Game Theory

An Introduction, Second Edition

By: E.N. Barron, Ph.D.

Published: April 23, 2013
Format: Hardcover, 574 pages
ISBN-10: 1118216938
ISBN-13: 978-1118216934
Publisher: John Wiley & Sons, Inc.












"The topics I have chosen I consider to be foundational to all of game theory and within the constraints of the prerequisites of an undergraduate course", writes Professor of Mathematics and Statistics, Loyola University, Chicago, E.N. Barron, Ph.D. in the completely revised and updated edition of his very hands on and real world problem solving focused textbook Game Theory: An Introduction, Second Edition. The author describes the core game theory topics of zero sum games, nonzero sum games, and cooperative games, along with games that utilize the open source software GAMBIT.

E.N. Barron recognizes that not all subject matter related to game theory can be included in an undergraduate textbook designed for completion in a one semester term class. To facilitate that time based necessity, the author skips the proofs of the theorems included in the book. The author includes a section on mixed strategies for continuous games, but due to their need for an understanding of measure theory, they are not given the prime focus of the book. The games that require software for solutions use readily downloadable Maple and Mathematica programs, and do not necessitate the writing of any software programs.

As an adjunct to the textbook, E.N. Barron also makes available the valuable study guide Solutions Manual to Accompany Game Theory: An Introduction, Second Edition (cover shown in photo left) to provide solutions to the odd numbered problems presented in the textbook.

The target students for the book is primarily those undergraduates specializing in mathematics, but the material is equally valuable for students of economics, business operations and management, political sciences, social sciences, and the natural sciences. The wider applications of game theory beyond pure mathematics add to the importance and value of the book.

E.N. Perron presents the two main classifications of game theory in the form of non-cooperative and cooperative games. The subject matter is covered in the following overarching sections:

* Matrix two person games
* Solution methods for matrix games
* Two person nonzero sum games
* Games in extensive form: Sequential decision making
* N-Person nonzero sum games and games with a continuum of strategies
* Cooperative games
* Evolutionary stable strategies and population games

For me, the power of the book is how E.N. Barron combines a comprehensive overview of non-cooperative and cooperative games, with the practical exercises and problems to ensure their understanding. Recognizing the importance of software programs for finding solutions to complex game theory problems, the author places an emphasis on this critical element of modern mathematics. E.N. Barron focuses on the core principles of game theory due to the time limitations of teaching a complete course in game theory in a single semester.

E.N. Barron acknowledges and incorporates the time factor with the inclusion of recommended course syllabus in the opening chapter. An added feature of the course, from both a teaching and a student learning standpoint is the addition of the study guide and solutions manual Solutions Manual to Accompany Game Theory: An Introduction, Second Edition. The author knows that game theory has numerous real world applications outside the field of mathematics. With the wide diversity of students, in areas of specialization outside of mathematics, the book requires only basic prerequisites for complete understanding, with no need to write software programs for solving problems.

I highly recommend the superb and very practical textbook Game Theory: An Introduction, Second Edition by E.N. Barron, Ph.D., along with its very useful learning companion book Solutions Manual to Accompany Game Theory: An Introduction, Second Edition also by E.N. Barron, Ph.D., to any academic instructors of game theory, especially those who teach a wide range of students from many different disciplines. This textbook provides the foundational aspects of game theory in an approachable and hands on format that will appeal to both professors and students alike.