Wednesday, March 31, 2010

Could Be a Good Sign

Announcing a book on ebook30.com by Karl Sigmund HERE

l"The Calculus of Selfishness" (Princeton University Press, 2010)

“How does cooperation emerge among selfish individuals? When do people share resources, punish those they consider unfair, and engage in joint enterprises? These questions fascinate philosophers, biologists, and economists alike, for the "invisible hand" that should turn selfish efforts into public benefit is not always at work.

The Calculus of Selfishness looks at social dilemmas where cooperative motivations are subverted and self-interest becomes self-defeating. Karl Sigmund, a pioneer in evolutionary game theory, uses simple and well-known game theory models to examine the foundations of collective action and the effects of reciprocity and reputation. Focusing on some of the best-known social and economic experiments, including games such as the Prisoner's Dilemma, Trust, Ultimatum, Snowdrift, and Public Good, Sigmund explores the conditions leading to cooperative strategies.

His approach is based on evolutionary game dynamics, applied to deterministic and probabilistic models of economic interactions. Exploring basic strategic interactions among individuals guided by self-interest and caught in social traps, The Calculus of Selfishness analyzes to what extent one key facet of human nature--selfishness--can lead to cooperation
.”

Comment

Looks interesting. Appears to test the modern economists’ version of the invisible hand’. Grown up too. Doesn’t link the modern notion to Adam Smith. That’s better. Long may they keep it that way.

Why? Because Karl Sigmund has to justify the modern version version of the metaphor on modern terms and is not giving its notions unwarranted credibility by ascribing his ideas to Adam Smith.

5 Comments:

Blogger mus said...

Gavin: It'll be interesting to see whether he recognizes that what matters here is not so much the invisible hand as the impartial spectator.

Brian Ferguson

1:04 am  
Blogger Gavin Kennedy said...

Brian

You are right. I thought I had acknowledged your comment earlier - must have gotten lost.

Nice to hear from you - I can't find your Blog?

Gavin

8:09 pm  
Blogger Gavin Kennedy said...

Brian

You are right. I thought I had acknowleged your comment earlier - must have gotten lost.

Nice to hear from you - I can't find your Blog?

Gavin

8:09 pm  
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6:14 am  
Blogger romanya vizesi said...

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1:10 pm  

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