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Game Theory

Game Theory

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Published by Sudip Dutta

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Categories:Types, Business/Law
Published by: Sudip Dutta on Jun 29, 2011
Copyright:Attribution Non-commercial

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05/16/2014

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Copyright © 1999 by Harcourt Brace & Company. All rights reserved.
Game Theory 
 
Copyright © 1999 by Harcourt Brace & Company. All rights reserved.
B
asic Ideas of Game Theory 
Game theory
is the general theory ofstrategic behavior.
y
Generally depicted in mathematical form.
y
Plays an important role in moderneconomics.
 
Copyright © 1999 by Harcourt Brace & Company. All rights reserved.
Rul 
es, Strategies, Payoffs, and Eq 
ibri 
m
E
conomic situations are treated as games.
y
T
he
rules
of the game state who can do what,and when they can do it.
y
A
player's
strategy
is a plan for actions ineach possible situation in the game.

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