Introductory Game Theory and Economic Information

Victor J. Tremblay and Carol Horton Tremblay
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Victor J. Tremblay: Oregon State University
Carol Horton Tremblay: Oregon State University

Chapter Chapter 3 in New Perspectives on Industrial Organization, 2012, pp 55-100 from Springer

Abstract: Abstract Strategic decisions are an integral part of our daily lives. Game theory provides a foundation for analyzing strategy, and as such, is a vitally important subject. At work, you may need to decide whether it is worth it to put in extra hours to earn a bigger bonus than your colleagues. Strategic decisions are especially common in competitive games, such as chess, tennis, football, and the TV show Survivor. These are considered games because strategic interaction is important to success. That is, to decide your best course of action, you must consider how others are likely to behave. Two examples make this point clear.

Keywords: Nash Equilibrium; Dominant Strategy; Dynamic Game; Ultimatum Game; Payoff Matrix (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-1-4614-3241-8_3

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DOI: 10.1007/978-1-4614-3241-8_3

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