Are people ever rational? Consider this: You auction off a one-dollar bill to the highest bidder, but you set the rules so that the second highest bidder also has to pay the amount of his last bid, even though he gets nothing. Would people ever enter such an auction? Not only do they, but according to Martin Shubik, the game's inventor, the average winning bid (for a dollar, remember) is $3.40. Many winners report that they bid so high only because their opponent "went completely crazy." This game lies at the intersection of three subjects of eternal fascination: human psychology, morality, and John von Neumann's game theory. Hungarian game-theorist Laszlo Mero introduces us to the basics of game theory, including such concepts as zero-sum games, Prisoner's Dilemma and the origins of altruism; shows how game theory is applicable to fields ranging from physics to politics; and explores the role of rational thinking in the context of many different kinds of thinking. This fascinating, urbane book will interest everyone who wonders what mathematics can tell us about the human condition.

"Will delight and inform anyone who enjoys rigorous thinking and the unexpected conclusions it delivers." -- Jamie Whyte, author of Crimes Against Logic "This ingenious gallop through the mind of Steven Landsburg enables you to think like an economist without incurring a Keynesian headache or a huge student loan. You may even end up 'smarter than Google.' But you will not readily put down this exhilarating adventure in ideas." -- George Gilder, author of Knowledge and Power and Life After Google Can you outsmart an economist? Steven Landsburg, acclaimed author and professor of economics, dares you to try. In this whip-smart, entertaining, and entirely unconventional economics primer, he brings together over one hundred puzzles and brain teasers that illustrate the subject's key concepts and pitfalls. From warm-up exercises to get your brain working, to logic and probability problems, to puzzles covering more complex topics like inferences, strategy, and irrationality, Can You Outsmart an Economist? will show you how to do just that by expanding the way you think about decision making and problem solving. Let the games begin "Entertaining as well as edifying. Read it, expand your mind, and have fun "-- N. Gregory Mankiw, Robert M. Beren Professor of Economics, Harvard University

This book combines the analytic principles of digital business and data science with business practice and big data. The interdisciplinary, contributed volume provides an interface between the main disciplines of engineering and technology and business administration. Written for managers, engineers and researchers who want to understand big data and develop new skills that are necessary in the digital business, it not only discusses the latest research, but also presents case studies demonstrating the successful application of data in the digital business.

This book focuses on the analytic principles of business practice and big data. Specifically, it provides an interface between the main disciplines of engineering/technology and the organizational and administrative aspects of management, serving as a complement to books in other disciplines such as economics, finance, marketing and risk analysis. The contributors present their areas of expertise, together with essential case studies that illustrate the successful application of engineering management theories in real-life examples.

This book provides relevant theoretical frameworks and the latest empirical research findings of Operations Research/Management Science applied to Internet of Things. This book identifies and describes ways in which OR and MS have been applied and influenced the development of IoT. Examples are from smart industry; city; transportation; home and smart devices. It discusses future applications, trends, and potential benefits of this new discipline. It is written for professionals who want to improve their understanding of the strategic role of IoT at various levels of the organization, that is, IoT at the global economy level, at networks and organizations level, at teams and work groups, at information systems and, finally, IoT at the level of individuals, as players in the networked environments.

NJ 1970 -1st Prentice Hall. Sm4to., 530pp. Owner signed and library stamp on front end paper but no other library marks at all. No spine number, no pocket. Near Fine in VG DJ.

The book treats two approaches to decision theory: (1) the normative, purporting to determine how a 'perfectly rational' actor ought to choose among available alternatives; (2) the descriptive, based on observations of how people actually choose in real life and in laboratory experiments. The mathematical tools used in the normative approach range from elementary algebra to matrix and differential equations. Sections on different levels can be studied independently. Special emphasis is made on 'offshoots' of both theories to cognitive psychology, theoretical biology, and philosophy.