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Third printing, 1998
©1994 Massachusetts Institute of Technology
All rights reserved. No part of this book may be reproduced in any form by any electronic or
mechanical means (including photocopying, or informational storage and retrieval) without
permission in writing from the publisher.
This book was set puter Modern by Ken Binmore. Printed and bound in the United States of
America.
Library of Congress Cataloging-in-Publication Data
Binmore, K. G., 1940-
Playing fair: game theory and the social contract / Ken Binmore.
v. cm.
Includes bibliographical references and index.
ISBN 0-262-02363-6
1. Game theory. 2. Social contract. 3. Political science-
-Philosophy. I. Title.
1994 93-29610
dc20 CIP
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Playing Fair
is dedicated
to my daughter
Emily
who knows
no other way
to play.
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William Blake's allegorical illustrations are justly famous. This
shows a young author awaiting a reviewer's verdict on his pet
project.
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method
a sympathy based upon his knowledge of past esses in various of the empirical sciences.
In so far as apologies are necessary on the mathematical content of the book, they need to be
tendered to mathematicians, and particularly to mathematical economists. As a mathematician, I
used to write in a very formal style, and it may be that, like many converts, I have allowed the
pendulum to swing too far in the other direction. It is certainly correct that the truly formal parts of
the discussion are infrequent and that these are patched together with appeals to intuition that some
mathematical economists will find irritatingly i