Strategic Synergies: Unveiling the Interplay of Game Theory and Cultural Dynamics in a Globalized World

Yufei Wang, Mangirdas Morkūnas () and Jinzhao Wei
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Yufei Wang: Faculty of Economics and Business Administration, Vilnius University, 10222 Vilnius, Lithuania
Mangirdas Morkūnas: Business School, Vilnius University, 10225 Vilnius, Lithuania
Jinzhao Wei: University International College, Macao University of Science and Technology, Macao 999078, China

Games, 2024, vol. 15, issue 4, 1-25

Abstract: This literature review focuses on cultural-related studies and game theory. First of all, it analyzes how social dynamics and strategic interactions can be shaped by different cultural environments. Secondly, it examines how cultural norms can affect strategic decision making and how game theory could predict cooperations and conflicts. Overall, this study aims to highlight the applicability of game theory in the modeling of cultural transformation and its interaction with behavioral economics. Moreover, this study also attempts to underscore the significance of game theory and cultural diversity in communication methods, plus the process of policy formulation. In addition to the above topics, the robustness of cross-cultural social norms, the economic study of different cultural heritage, and the cultural effects of tourism under game theory are also focal points of this study. Finally, this review delves into how game theory can represent social interactions, emphasizing the need to incorporate extensive cultural knowledge in order to enhance the efficacy of game-theoretic model’s applications.

Keywords: game theory; cultural influence; strategic decisions; social dynamics; policy design; behavioral economics (search for similar items in EconPapers)
JEL-codes: C C7 C70 C71 C72 C73 (search for similar items in EconPapers)
Date: 2024
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