Game theory and mechanism design have come a long way. Thirty-five years ago, they were fringe subjects, taught – if at all – in specialty courses. Today they are at the center of economic theory and have become an important part of engineering disciplines such as computer science and electronic commerce.
I am very pleased that Y. Narahari has written this lovely text, which presents the fundamentals of game theory and mechanism design clearly and concisely. In doing so, Dr. Narahari has performed a great service to students and researchers interested in the lively interface between engineering sciences and economics.
Nobel Laureate in Economic Sciences – 2007
Adams University Professor
Department of Economics
Faculty of Arts and Sciences
Cambridge, MA, USA
16 July 2013
Massachusetts Institute of Technology, Cambridge, MA, USA
The theory of Games and Mechanism Design find today wide applications in Economics, Engineering, and Operations Research. This is one of the few books which present a detailed account of both Non-Cooperative and Cooperative Games as well as Mechanism Design, all under one cover. Proofs of important theorems are given in a clear and succinct manner and the bibliographical and biographical references are particularly valuable. The book can serve both as a graduate text as well as a reference volume. I highly recommend it.
Stanford University, CA, USA
It’s a fabulous textbook! It is very well-organized, has deep material, with excellent introductory material and summaries and nice historical remarks and boxes. Thoughtful and comprehensive acknowledgments are also very well done I’m sure this book is going to be a huge success.
Indian Institute of Technology-Bombay, Mumbai, India
This is a splendid book for engineers by an engineer. It has the ideal choice of topics and emphasis that reflects the driving themes in game theory, such as mechanism design, that have lead the revival of game theory in recent times and its multifarious applications in cybercommerce and allied areas. The lucidly written byte-sized chapters rich with examples and historical details make it an exciting read. This is the right book at the right time.
Microsoft Research and Indian Institute of Science, Bangalore, India
This book covers a subject which now straddles at least three subjects — Economics, Mathematics and Computer Science. It is a comprehensive presentation for a wide range of readers from the novice to experts in related areas who want to inform themselves of Game Theory and Mechanism Design. The book has a very readable from-first-principles approach to topics which commendably illuminates while not sacrificing rigor.
Google, Mountain View, CA, USA
Narahari’s book is a beautifully written text that handles both introductory material and advanced topics well.
University of Connecticut, Storrs, CT, USA
This marvelous book on Game Theory and Mechanism Design is an essential reference for beginners and practitioners alike. The book covers the basic concepts needed to understand game theory and powerful practical implications of the theory embodied in mechanism design. Narahari excels at elucidating the essentials of game theory, while motivating the reader with a number of illustrative examples and real-world applications from engineering, economics and networks. It is fun to read and should be on the shelf of any student or practitioner interested in the practical applications of game theory.
Indian Statistical Institute, New Delhi, India
Game Theory is the formal analysis of strategic behavior. It originated with the classic book of von Neumann and Morgenstern in the 1940’s and over the last 70 years, has become a vital ingredient in both the social and engineering sciences. Professor Narahari is a leading expert in the burgeoning area of game theoretic applications to computer science. His lucid and elegant book, packed with examples and historical background, is a wonderful introduction to modern Game Theory. It clearly lays out the central concepts and results of the theory while conveying its potential for providing insights to a range of interesting practical problems. The book will be invaluable to students from diverse backgrounds such as economics, mathematics, and engineering.
Xerox Research Centre Europe, Grenoble, France
Game Theory and Mechanism Design is impressive in its broad coverage of cooperative games, non-cooperative games and mechanism design from an engineering perspective. The book is rich in examples and exercises, and couples historical appraisals of the evolution of the field with careful mathematical proofs. It should be valuable both as a graduate text and for reference.
University of Minnesota, Minneapolis, MN, US
This is a monumental achievement! It is certainly a book that has come out at the right time, especially as the Internet is (i) bringing markets closer to pure economics, and (ii) providing us a means to study markets at a granularity never before possible. In such an environment a clear understanding of game theory and mechanism design is increasingly important – and this book fulfills this important need. This is an excellent and timely service to the community.