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Game Theory
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Economic Theories research papers
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5 pages. An excellent and thorough explanation of the Game Theory of economics. Explains in detail how this theory works and how it applies in real-world situations to companies with oligopolies. Standard microeconomics provides a theory of decision-making where the outcomes of various decisions are known. Game theory provides rational solutions when the outcomes are uncertain. Game theory has proven very useful in the study of oligopoly markets where each participant must take account of the reactions of its competitors. Bibliography lists 3 sources.
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Pages:
5
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Filename:D0_JGAgame.rtf |
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Paper Title:
Game Theory
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