Game Theory

Interactive Strategies in Economics and Management

Game theory is concerned with strategic interaction among several decision-makers. In such strategic encounters, all players are aware of the fact that their actions affect the other players. Game theory analyzes how these strategic, interactive considerations may affect the players' decisions and influence the final outcome.

This textbook focuses on applications of complete-information games in economics and management, as well as in other fields such as political science, law and biology.

It guides students through the fundamentals of game theory by letting examples lead the way to the concepts needed to solve them. It provides opportunities for self-study and self-testing through an extensive pedagogical apparatus of examples, questions and answers. The book also includes more advanced material suitable as a basis for seminar papers or elective topics, including rationalizability, stability of equilibria (with discrete-time dynamics), games and evolution, equilibrium selection and global games.

Table of Contents

Part I. Strategic Interactions as Games:

1. Strategic form games
2. Representing strategic interactions with games

Part II. Basic Solution Concepts for Strategic-Form Games:

3. Dominant strategies
4. Strongly dominated strategies
5. Weakly dominated strategies
6. Nash equilibrium

Part III. Prominent Classes of Strategic-Form Games:

7. Cooperation and conflict, strategic complements and substitutes
8. Concentrated markets
9. Coordination games and strategic uncertainty

Part IV. Uncertainty and Mixed Strategies:

10. Choice under uncertainty and risk dominance
11. Mixed strategies
12. Security strategies, strictly competitive games and the minimax theorem
13. Mixed strategies in general games

Part V. Advanced Topics in Strategic Form Games:

14. Rationalizable strategies
15. Stability of equilibria
16. Games and evolution
17. Global games

Part VI. Dynamic Games:

18. Extensive form games
19. Non-credible threats, subgame perfect equilibrium and backward induction
20. Commitment
21. Backward induction: limitations and difficulties
22. Moves of nature

Part VII. Repeated Games:

23. The repeated prisoner's dilemma
24. Games with unbounded horizon: additional models and results.

460 pages, Paperback

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GAME THEORY INTERACTIVE STRATEGIES IN ECONOMICS AND MANEGEMENT

HEIFETZ A.

Game Theory

Interactive Strategies in Economics and Management

This textbook focuses on applications of complete-information games in economics and management, as well as in other fields such as political science, law and biology.