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Jan 25, 1997 · Game theory is the study of the ways in which interacting choices of economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents.
Popularized by movies such as "A Beautiful Mind," game theory is the mathematical modeling of strategic interaction among rational (and irrational) agents. Beyond what we call `games' in common language, such as chess, poker, soccer, etc., it includes the modeling of conflict among nations, political campaigns, competition among firms, and ...
Game theory is the mathematical analysis of decision making. In game theory, the interaction between two or more players is often framed in terms of a game with a particular set of rules. Of interest may be the strategies that give optimal outcomes for each of the players or, conversely, the resulting outcomes when certain strategies are played.
Jan 1, 2021 · This entry provides an overview of the aspects of game theory that are covered in this Encyclopedia, which includes a broad spectrum of topics on static and dynamic game theory. The entry starts with a brief overview of game theory, identifying its basic ingredients,...
It covers topics such as epistemic foundations, higher order beliefs, bargaining, repeated games, reputation, supermodular games, and global games. It also introduces cooperative solution concepts—Nash bargaining solution, core, Shapley value—and develops corresponding non-cooperative foundations.
About the Book. Game theory is an excellent topic for a non-majors quantitative course as it develops mathematical models to understand human behavior in social, political, and economic settings. The variety of applications can appeal to a broad range of students.
Jun 2, 2003 · Game theory is a standard tool of analysis for professionals working in the fields of operations research, economics, finance, regulation, military, insurance, retail marketing,...
