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Since the establishment of von Neumann and Nash's concept of equilibrium, game theory has become a universal language in economics and social sciences. However, classical game theory is deeply rooted in the mechanistic worldview, and its deterministic assumptions, static equilibrium, and individualistic methodology are...
Since the establishment of von Neumann and Nash's concept of equilibrium, game theory has become a universal language in economics and social sciences. However, classical game theory is deeply rooted in the mechanistic worldview, and its deterministic assumptions, static equilibrium, and individualistic methodology are...
Finance has gone through decades under the guidance of efficient market hypothesis and rational pricing model, but has encountered profound challenges in the face of financial crises and market anomalies: irrational fluctuations in asset prices, herding effects, foam and crashes, exposing the mechanical limitations of...
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