The Federmann Center for the Study of Rationality
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The Federmann Center for the Study of Rationality is a unique venture in which faculty, students, and guests join forces to explore the basis of decision-making. Coming from a broad sweep of departments (mathematics, economics, psychology, biology, education, computer science, philosophy, business, statistics, law, sociology, and political science), its members look at how rationality responds to real-world situations where individuals with different goals interact. Read more

 

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Hosted by the Federmann Center for the Study of Rationality
Semesters Aleph and/or Bet, 2026-2027 Academic Year

Books

Simple Adaptive Strategies: From Regret-Matching to Uncoupled Dynamics
Hart, S., & Mas-Colell, A. . (2013). Simple Adaptive Strategies: From Regret-Matching to Uncoupled Dynamics . World Scientific. Retrieved from https://www.worldscientific.com/worldscibooks/10.1142/8408 Publisher's Version
booklet
Abstract

This volume collects almost two decades of joint work of Sergiu Hart and Andreu Mas-Colell on game dynamics and equilibria. The starting point was the introduction of the adaptive strategy called regret-matching, which on the one hand is simple and natural, and on the other is shown to lead to correlated equilibria. This initial finding — boundedly rational behavior that yields fully rational outcomes in the long run — generated a large body of work on the dynamics of simple adaptive strategies. In particular, a natural condition on dynamics was identified: uncoupledness, whereby decision-makers do not know each other's payoffs and utilities (so, while chosen actions may be observable, the motivations are not). This condition turns out to severely limit the equilibria that can be reached. Interestingly, there are connections to the behavioral and neurobiological sciences and also to computer science and engineering (e.g., via notions of “regret”).

Simple Adaptive Strategies is self-contained and unified in its presentation. Together with the formal treatment of concepts, theorems, and proofs, significant space is devoted to informal explanations and illuminating examples. It may be used for advanced graduate courses — in game theory, economics, mathematics, computer science, engineering — and for further research.

Insights into Game Theory: An Alternative Mathematical Experience
Gura, E. - Y., & Maschler, M. B. . (2008). Insights into Game Theory: An Alternative Mathematical Experience. Cambridge University Press. Retrieved from https://doi.org/10.1017/CBO9780511754326 Publisher's Version
booklet
Abstract
Few branches of mathematics have been more influential in the social sciences than game theory. In recent years, it has become an essential tool for all social scientists studying the strategic behaviour of competing individuals, firms and countries. However, the mathematical complexity of game theory is often very intimidating for students who have only a basic understanding of mathematics. Insights into Game Theory addresses this problem by providing students with an understanding of the key concepts and ideas of game theory without using formal mathematical notation. The authors use four very different topics (college admission, social justice and majority voting, coalitions and co-operative games, and a bankruptcy problem from the Talmud) to investigate four areas of game theory. The result is a fascinating introduction to the world of game theory and its increasingly important role in the social sciences.
Selected Contributions to Game Theory
Aumann, R. J. . (2025). Selected Contributions to Game Theory. World Scientific. Retrieved from https://doi.org/10.1142/11851 Publisher's Version
booklet
Abstract
Robert Aumann was awarded (jointly with Thomas C Schelling) the 2005 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel "for having enhanced our understanding of conflict and cooperation through game-theory analysis". This book contains ten of his most important contributions to game theory, as selected by Eric Maskin, also a Nobel laureate.
Principles of Macroeconomics
Frank, R., Bernanke, B., Antonovics, K., & Heffetz, O. . (2024). Principles of Macroeconomics. McGraw Hill. Retrieved from https://www.mheducation.com/highered/product/Principles-of-Macroeconomics-Frank.html Publisher's Version
booklet
Abstract
Embark on an exploration of macroeconomics with its 2024 release, unfolding against the backdrop of unprecedented economic transformations. As the world grapples with challenges, this product’s focused approach equips you to decipher the complexities of macroeconomics in a rapidly evolving environment. This product’s philosophy stands strong: strip away the unnecessary and intensify focus on central concepts. Our goal is to produce macroeconomic naturalists who see each economic event because of a cost-benefit calculation. From understanding the reasons behind holding U.S. dollars to unraveling the impact of inflation, this textbook actively engages students, making macroeconomics a language they speak fluently.  With heavy emphasis on globalization, this text navigates real wage inequality, costs and benefits of trade, protectionism, and the link between exchange rates and monetary policy. Frank, Nobel-Prize winner: Bernanke, Antonovics, and Heffetz bring expertise to every chapter keeping the learning fresh, engaging, and always up-to-date. 

Simple Adaptive Strategies: From Regret-Matching to Uncoupled Dynamics

Simple Adaptive Strategies: From Regret-Matching to Uncoupled Dynamics

Abstract:

This volume collects almost two decades of joint work of Sergiu Hart and Andreu Mas-Colell on game dynamics and equilibria. The starting point was the introduction of the adaptive strategy called regret-matching, which on the one hand is simple and natural, and on the other is shown to lead to correlated equilibria. This initial finding — boundedly rational behavior that yields fully rational outcomes in the long run — generated a large body of work on the dynamics of simple adaptive strategies. In particular, a natural condition on dynamics was identified: uncoupledness, whereby decision-makers do not know each other's payoffs and utilities (so, while chosen actions may be observable, the motivations are not). This condition turns out to severely limit the equilibria that can be reached. Interestingly, there are connections to the behavioral and neurobiological sciences and also to computer science and engineering (e.g., via notions of “regret”).

Simple Adaptive Strategies is self-contained and unified in its presentation. Together with the formal treatment of concepts, theorems, and proofs, significant space is devoted to informal explanations and illuminating examples. It may be used for advanced graduate courses — in game theory, economics, mathematics, computer science, engineering — and for further research.

Publisher's Version

booklet

Insights into Game Theory: An Alternative Mathematical Experience

Insights into Game Theory: An Alternative Mathematical Experience

Abstract:

Few branches of mathematics have been more influential in the social sciences than game theory. In recent years, it has become an essential tool for all social scientists studying the strategic behaviour of competing individuals, firms and countries. However, the mathematical complexity of game theory is often very intimidating for students who have only a basic understanding of mathematics. Insights into Game Theory addresses this problem by providing students with an understanding of the key concepts and ideas of game theory without using formal mathematical notation. The authors use four very different topics (college admission, social justice and majority voting, coalitions and co-operative games, and a bankruptcy problem from the Talmud) to investigate four areas of game theory. The result is a fascinating introduction to the world of game theory and its increasingly important role in the social sciences.

Publisher's Version

booklet
Last updated on 06/29/2026

Selected Contributions to Game Theory

Selected Contributions to Game Theory

Abstract:

Robert Aumann was awarded (jointly with Thomas C Schelling) the 2005 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel "for having enhanced our understanding of conflict and cooperation through game-theory analysis". This book contains ten of his most important contributions to game theory, as selected by Eric Maskin, also a Nobel laureate.

Publisher's Version

booklet
Last updated on 02/09/2026

Principles of Macroeconomics

Citation:

Frank, R., Bernanke, B., Antonovics, K., & Heffetz, O. . (2024). Principles of Macroeconomics. McGraw Hill. Retrieved from https://www.mheducation.com/highered/product/Principles-of-Macroeconomics-Frank.html Copy at http://https://tinyurl.com/28gtub3a
Principles of Macroeconomics

Abstract:

Embark on an exploration of macroeconomics with its 2024 release, unfolding against the backdrop of unprecedented economic transformations. As the world grapples with challenges, this product’s focused approach equips you to decipher the complexities of macroeconomics in a rapidly evolving environment. This product’s philosophy stands strong: strip away the unnecessary and intensify focus on central concepts. Our goal is to produce macroeconomic naturalists who see each economic event because of a cost-benefit calculation. From understanding the reasons behind holding U.S. dollars to unraveling the impact of inflation, this textbook actively engages students, making macroeconomics a language they speak fluently.  With heavy emphasis on globalization, this text navigates real wage inequality, costs and benefits of trade, protectionism, and the link between exchange rates and monetary policy. Frank, Nobel-Prize winner: Bernanke, Antonovics, and Heffetz bring expertise to every chapter keeping the learning fresh, engaging, and always up-to-date. 

Publisher's Version

booklet
Last updated on 12/09/2024
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