Game Theory and the Social Contract, Volume 1: Playing Fair

by Ken Binmore

In Game Theory and the Social Contract, Ken Binmore argues that game theory provides a systematic tool for investigating ethical matters. His reinterpretation of classical social contract ideas within a game-theoretic framework generates new insights into the fundamental questions of social philosophy. He clears the way for this ambitious endeavor by first focusing on foundational issues -- paying particular attention to the failings of recent attempts to import game -- theoretic ideas into social and political philosophy.Binmore shows how ideas drawn from the classic expositions of Harsanyi and Rawls produce a synthesis that is consistent with the modern theory of noncooperative games. In the process, he notes logical weaknesses in other analyses of social cooperation and coordination, such as those offered by Rousseau, Kant, Gauthier, and Nozick. He persuasively argues that much of the current literature elaborates a faulty analysis of an irrelevant game.Game Theory and the Social Contract makes game-theoretic ideas more widely accessible to those with only a limited knowledge of the field. Instructional material is woven into the narrative, which is illustrated with many simple examples, and the mathematical content has been reduced to a minimum.

Genres: Economics, Philosophy, Nonfiction, Politics, Science

388 pages, Paperback

First published January 1, 1994

About the author

Professor of Economics at UCL, after holding corresponding positions at LSE and the University of Pennsylvania and Michigan. Onetime Professor of Mathematics at LSE.

Author of 77 published papers and 11 books. Research in evolutionary game theory, bargaining theory, experimental economics, political philosophy, mathematics and statistics.

Grants from National Science Foundation (3), ESRC (1), STICERD (2) and others. Chairman of LSE Economics Theory Workshop (10 years), Director of Michigan Economic Laboratory (5 years). Fellow of the Econometric Society and British Academy. Extensive collaboration with 25 co-authors.

Awarded the CBE in the New Years Honours List 2001 largely for his role in designing the UK 3G Spectrum Auction.

Reviews

[Jay Little · Rating 5 out of 5]

A very heady book focusing on Game Theory - the study of why people make the decisions they do, and the myriad factors influencing those decisions. As a societal subset of economics, it's a fascinating topic. However, as a subset of economics in general, there are a number of theorems, formulae, and math in the examples used to illustrate the author's points.

In that regard, it reads a little bit like H.P. Lovecraft fiction -- a dense style that takes some getting used to. However, author Ken Binmore does an excellent job of taking these complex concepts and breaking them down into smaller and simpler pieces. Suddenly, you realize that by understanding the pieces and their relationships, you start to understand the metaconcepts.

This is not a casual book. I believe it is a college textbook used for courses focused on Game Theory. It is certainly written and delivered in a textbook style.