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Game theory is the study of mathematical models of strategic interactions. [1] It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. [2]
Theory of Games and Economic Behavior, published in 1944 [1] by Princeton University Press, is a book by mathematician John von Neumann and economist Oskar Morgenstern which is considered the groundbreaking text that created the interdisciplinary research field of game theory.
Cooperative game theory is a branch of game theory that deals with the study of games where players can form coalitions, cooperate with one another, and make binding agreements. The theory offers mathematical methods for analysing scenarios in which two or more players are required to make choices that will affect other players wellbeing. [5]
Eric Rasmusen is an American economist and former Professor of Business Economics and Public Policy at Indiana University Bloomington. [1] He is the author of the book Games and Information: An Introduction to Game Theory.
Lloyd Stowell Shapley (/ ˈ ʃ æ p l i /; June 2, 1923 – March 12, 2016) was an American mathematician and Nobel Memorial Prize-winning economist.He contributed to the fields of mathematical economics and especially game theory.
In traditional game theory, the subject of study is usually a game with two players and discrete time space, and extends the results to more complex situations by induction. However, for games in continuous time with continuous states (differential games or stochastic differential games) this strategy cannot be used because of the complexity ...
2008: Game Theory: A Very Short Introduction. Oxford University Press. Oxford University Press. Mini-biographies of many founders of subject, including John Nash; overview of a cutting-edge field with successes in evolutionary biology, economics and other disciplines
The Economics of Groundhog Day by economist D.W. MacKenzie, using the 1993 film Groundhog Day to argue that perfect information, and therefore perfect competition, is impossible. Watson, J. (2013) Strategy: An Introduction to Game Theory, W.W. Norton and Co.
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