This innovative textbook is a concise and axiomatic introduction to the principles of game theory—the formal study of move and countermove. Undergraduate business and economics students with a background in the principles of microeconomics and college mathematics will find the material presented in this textbook focused, comprehensive, and accessible.
This innovative textbook is a concise and axiomatic introduction to the principles of game theory—the formal study of move and countermove. Undergraduate business and economics students with a background in the principles of microeconomics and college mathematics will find the material presented in this textbook focused, comprehensive, and accessible.
Thomas J. Webster is a professor of economics in the Department of Finance and Economics of Pace University's Lubin School of Business in New York City. Before joining the faculty at Pace University, Dr. Webster held positions as an international economist with the Central Intelligence Agency, the U.S. Department of Defense, Manufacturers Hanover Trust Company, and Continental Illinois National Bank and Trust Company. Dr. Webster has served as graduate and undergraduate finance program chair, and as faculty advisor to Beta Gamma Sigma, the international honor society for collegiate schools of business. He is the recipient of the Lubin School of Business Scholarly Research Award for Basic Scholarship, the Lubin School of Business Outstanding Faculty Service Award, the Pace University Award for Distinguished Service, and the Beta Gamma Sigma Commitment to Excellence Award. Dr. Webster received his BA from the School of International Service of American University, and his MA, MPhil, and PhD from the City University of New York.
Inhaltsangabe
PREFACE 1 INTRODUCTION TO GAME THEORY Introduction Strategic behavior Short history of game theory Lexicon of game theory Rational versus actual behavior Practice Exercises PART I: STATIC GAMES WITH COMPLETE INFORMATION 2 COALITION GAMES Introduction Prisoner's dilemma The extensive form The normal form Nash equilibrium Shortcut for finding-pure strategy Nash equilibria Determinants of business collusion Number of firms with similar interests Firm size relative to the industry Visibility Practice Exercises 3 STRATEGIC MOVES AND DETERRING DEFECTION Introduction Strategic moves Deterring defection Contracts Reputation Cutting off communications Preventing retreat Brinksmanship Incrementalism Teamwork Agents Practice exercises 4 COMPETITION GAMES Introduction Strictly-dominant strategies Weakly-dominant strategies Iterated elimination of dominated strategies Three-player games Non-dominant strategies Maximin (secure) strategy Practice exercises 5 COORD
PREFACE 1 INTRODUCTION TO GAME THEORY Introduction Strategic behavior Short history of game theory Lexicon of game theory Rational versus actual behavior Practice Exercises PART I: STATIC GAMES WITH COMPLETE INFORMATION 2 COALITION GAMES Introduction Prisoner's dilemma The extensive form The normal form Nash equilibrium Shortcut for finding-pure strategy Nash equilibria Determinants of business collusion Number of firms with similar interests Firm size relative to the industry Visibility Practice Exercises 3 STRATEGIC MOVES AND DETERRING DEFECTION Introduction Strategic moves Deterring defection Contracts Reputation Cutting off communications Preventing retreat Brinksmanship Incrementalism Teamwork Agents Practice exercises 4 COMPETITION GAMES Introduction Strictly-dominant strategies Weakly-dominant strategies Iterated elimination of dominated strategies Three-player games Non-dominant strategies Maximin (secure) strategy Practice exercises 5 COORD
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