Game Theory

Suren Basov

Chapter 6 in Microeconomics with Spreadsheets, 2017, pp 73-83 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Game theory is the main mathematical tool to model strategic interactions in economics and other social sciences. In economics, we assume that individuals are rational and try to predict consciously the actions of their opponents and best respond to them. An alternative approach, evolutionary game theory, originated in biology. Under this approach, each individual is characterized by a strategy and the rate of replication of individuals in increasing the success of their strategy. We will not discuss evolutionary game theory in this book, but some references will be provided in the end of this part.

Keywords: Microeconomics; Game Theory; Producer Theory; Consumer Theory; Economics of Information; Basics of Industrial Organization; Excel; The Solver (search for similar items in EconPapers)
JEL-codes: C81 (search for similar items in EconPapers)
Date: 2017
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