Game Theory Business

An introduction to game theory, complete with step-by-step tools and detailed examples.
This book offers condensed breakdowns of game-theory concepts. Specifically, this textbook provides “tools” or “recipes” to solve different classes of games.

In 24 insightful lectures, the fundamentals of game theory are presented in a manner that is both engaging and easy to understand. Game theory plays a crucial role in our lives and provides startling insights into all endeavors in which humans cooperate or compete, including biology, computer science, politics, agriculture, and, most importantly, economics.
-> Learn the Basic Games on which More Complex Interactions Are Built
-> Meet Game Theory's Most Important Minds

Foundations of Strategic Decision-Making: Unveiling the Power of Game Theory in Economics and Business

Game Theory in economics and business: Nash Equilibrium | Prisoner's Dilemma | Game Trees | Rollback Equilibrium

In the last twenty-five years, game theory has been applied to a growing number of practical problems: from antitrust analysis to monetary policy; from the design of auction institutions to the structuring of incentives within firms; from patent races to dispute resolution. The purpose of Game Theory and Business Applications is to expand these applications of game theory into a broad and meaningful view of the way business decisions can be modelled and analyzed. The chapter contents embrace a wide variety of business functions - from accounting to finance, to operations, to strategy, and to organizational design. In addition, specific application areas include numerous kinds of market competition, bargaining, auctions and competitive bidding. All of these applications involve competitive decision settings, specifically situations where a number of economic agents in pursuit of their respective self-interests take actions that together affect all of their fortunes. In the language of game theory, players take actions consistent with the given `rules of the game,' and these joint actions determine final outcomes and payoffs. As this volume demonstrates, game theory provides a compelling guide for business strategy.