Tuesday, March 29, 2016

Whither Game Theory? by Fudenberg and Levine (we need to learn more about learning)

Whither Game Theory? Drew Fudenberg David K. Levine, January 31, 2016

Abstract: We examine the state of game theory. Many important questions have been answered, and
game theoretic methods are now central to much economic investigation. We suggest areas where
further advances are important, and argue that models of learning and of social preferences
provide promising routes for improving and widening game theory’s predictive power, while
preserving the sucesses of existing theory where it works well. We emphasize in particular the
need for better understanding of the speed with which learning takes place, and of the evolution
of social norms.

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