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Analyzing Strategic Behavior in Business and Economics - A Game Theory Primer (Paperback)
Loot Price: R1,252
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Analyzing Strategic Behavior in Business and Economics - A Game Theory Primer (Paperback)
Expected to ship within 12 - 19 working days
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This textbook is an introduction to game theory, which is the
systematic analysis of decision-making in interactive settings.
Game theory can be of great value to business managers. The ability
to correctly anticipate countermove by rival firms in competitive
and cooperative settings enables managers to make more effective
marketing, advertising, pricing, and other business decisions to
optimally achieve the firm's objectives. Game theory does not
always accurately predict how rivals will act in strategic
situations, but does identify a decision maker's best response to
situations involving move and countermove. As Nobel Prize winner
Thomas Shelling noted: "We may wish to understand how participants
actually do conduct themselves in conflict situations; an
understanding of the 'correct' play may give us a bench mark for
the study of actual behavior." The concise and axiomatic approach
to the material presented in this textbook is easily accessible to
students with a background in the principles of microeconomics and
college mathematics. The selection and organizations of topics
makes the textbook appropriate for use in a wide range of curricula
by students with different backgrounds.
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