Competition: The Birth of a New Science Kindle î The

Competition: The Birth of a New Science [Epub] ➛ Competition: The Birth of a New Science ➜ James Case – The Mathematical Theory of Games Sheds Light On A Wide Range of Competitive Activities What do chess playing computer programs biological evolution competitive sports gambling alternative voting syste The Mathematical Theory Birth of PDF ´ of Games Sheds Light On A Wide Range of Competitive Activities What do chess playing computer programs biological evolution competitive sports gambling alternative voting systems public auctions corporate globalization and class warfare have in common All are manifestations of a new paradigm in scientific thinking which James Case calls the emerging science of competition Drawing in part on the pioneering work of mathematicians such as John von Neumann John Nash of Competition: The MOBI :Ê A Beautiful Mind fame and Robert Axelrod Case explores the common game theoretical strands that tie these seemingly unrelated fields together showing how each can be better understood in the shared light of the others Not since James Gleick's bestselling book Chaos brought widespread public attention to the new sciences of chaos and complexity has a general interest science book served such an The Birth of a New MOBI :Ê eye opening purpose Competition will appeal to a wide range of readers The Birth of PDF/EPUB ä from policy wonks and futurologists to former jocks and other ordinary citizens seeking to make sense of a host of novel and freuently controversial issues.

6 thoughts on “Competition: The Birth of a New Science

  1. Rossdavidh Rossdavidh says:

    Subtitle The Birth of a New Science Economics has been de facto the study of competition for about half a century since it became clear to any objective observer that communism didn't work the way Marx claimed it would How much was really learned? According to the author of this book James Case very little and not so much for lack of evidence as because of an unwillingness to see what was in front of them Case's argument essentially asserts that most of modern economics is literally pseudo scienceCase does a fairly effective job of showing that in fact a number of uite well designed studies have been made of how humans behave in competitive situations and they have produced uite intriguing results The problem is that none of them have had the desired outcomeWhat they have shown instead is that humans are irrational and tend to ape one another's behavior in ways that compound their errors Bidders at an auction tend to spend for the item auctioned than they should stock price fluctuations have little to do with the underlying value of the companies they represent ownership of markets spend orders of magnitude on advertising than any even semi rational allocation of resources would call for and purveyors of financial instruments among many others do better when their customers are unable to compare one product with another because they are too complicated to understandOrthodox economic theory would disagree with all of this Case makes the excellent point that just as Intelligent Design is considered a pseudo science because the conclusion is taken as given and only the means of asserting it is changed with the evidence orthodox economics has operated in nearly as zealous of a manner looking to assert that markets composed of a mass of irrational poorly educated consumers who do not have the resources to think about their own long term best interest if they knew it will be efficient and optimalThis is hogwash and any unbiased thinker who considers the matter for any amount of time will know it The market valued Elvis Presley far than Ludwig von Mises and this was not due to government intervention The market values Britney Spears than Lawrence Lessig Madonna than Ron Paul and boy bands than solar cells The market thinks it's a good idea for us to outsource our manufacturing to other continents and to uote despaircom A company willing to go to the ends of the earth for its employees will find it can hire them for about 10% of the cost of Americans The market is crap at valuing things appropriately and Wall Street is worseThe flaw in Competition lies in the last chapter where it looks at what to do instead The brilliance of the rest of the book in puncturing illusions and myths of a rational market consumer and corporation suddenly disappears as it asserts a rational politics voter and legislature Why is the analysis of Prisoner's Dilemnas Tree Games Backwards Induction and Reward Matrices suddenly abandoned when it comes time to analyze the probable impact of introducing government into the market?Case's basic point is correct we could be applying the scientific method including double blind experiments to human interactions and it is politics and fear of what we may discover that is preventing us from doing so Replacing a naive faith in markets with a naive faith in government intervention in markets however is an enormous letdown for the conclusion to a book which marshaled such intellectual firepower in the first 16 of its 17 chapters In the meantime we will have to make do with reading the leftist critiues of the Right and rightist critiues of the Left to form a makeshift and jerry rigged substitute for the science of competition which we really need In that sense Competition is half of a great book

  2. Al Mcphee Al Mcphee says:

    Much of its content is uite interesting as it compares orthodox economic thought pretty much free market economics with heterodox economics which attempts to formalize economics in a competitive environment As the number of competitors increases the ability to model the environment becomes difficult Only in recent times with improved mathematical models and advanced computational methods has it been possible to create and view diffent modelsAt the end of the book the author claims that the way to implement any of these models would be for the government to reuire licensed employment agencies and licensed farm cooperatives to control the labor and food supply HuhThe early discussion was interesting but the final conclusions I found appalling

  3. John John says:

    Interesting book combining an introduction to various forms of game theory with a lengthy discussion of economics and especially of the putative gains from trade The two discussions are tied together by the following thesis classical economics is not an experimental science an experimentally based science of competition is now developing this science is not consistent with the dogmas of classical economics therefore some of said dogmas should be abandoned or modified The author has a web site for Mathematicians Against Free Trade

  4. Robert Giambo Robert Giambo says:

    In the end not very interesting or teaching me anything new

  5. Arash Kamangir Arash Kamangir says:

    کتاب ظاهر ِ‌خوبی داره اما مطول و بی‌مایه‌است عملا ورق‌اش می‌زنم پیشنهاد نمی‌کنم کسی سراغش بره

  6. Greg Green Greg Green says:

    In some sense a non traditional look at economics Worth the read

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