The Correlation between Game Theory and International Trade

Ioana-Veronica Alexa () and Simona-Valeria Toma ()
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Ioana-Veronica Alexa: Faculty of Economics and Business Administration, Dunarea de Jos University of Galati, Romania
Simona-Valeria Toma: Faculty of Economics and Business Administration, Dunarea de Jos University of Galati, Romania

Economics and Applied Informatics, 2012, issue 2, 67-74

Abstract: Game theory, in its most basic form, considers two or more players and analyses the different strategies that they can use and the effect that these strategies will have on each player. International trade allows countries to use better their resources (labor, technology or capital). Since countries have different capital or natural resources, some of them will produce a good more efficiently than others and therefore could sell it cheaper than other countries. By using game theory in international trade we could determine if the Heckscher-Ohlin-Samuelson model is correct and what would be the best specialization for each country. The aim of this paper is to test if game theory could be successfully used in a thorough analysis of international trade specialization

Keywords: International trade; Game theory; Country specialization (search for similar items in EconPapers)
JEL-codes: C70 F10 F11 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fseeai:y:2012:i:2:p:67-74

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