Evolving Strategies — Gaming in Economics
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In his classic book “Cybernetics”, published 1948, Norbert Wiener created the name of a new interdisciplinary science and tried to figure out its perspectives1. Coming from electrotechnology the approach taken by Wiener in this book is that typical for practioneers in the field, an engineering point of view, dealing with problems of servo-mechanisms and trying to develop more general methods and concepts. It is not only the outstanding scholarship of the author, which makes for the success and the continuing acuteness of Wieners agenda, it is also caused by the upsurge of computer technology, the central tool of the new science, in the last 40 years. Wieners analytical framework still proofs to be extremely useful in discussing applications of new information technology.
KeywordsEquilibrium Path Equilibrium Concept Sequential Equilibrium General System Theory Human Player
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