This textbook presents worked-out exercises on game theory with detailed step-by-step explanations. While most textbooks on game theory focus on theoretical results, this book focuses on providing practical examples in which students can learn to systematically apply theoretical solution concepts to different fields of economics and business. The text initially presents games that are required in most courses at the undergraduate level and gradually advances to more challenging games appropriate for graduate level courses. The first six chapters cover complete-information games, separately analyzing simultaneous-move and sequential-move games, with applications in industrial economics, law, and regulation. Subsequent chapters dedicate special attention to incomplete information games, such as signaling games, cheap talk games, and equilibrium refinements, emphasizing common steps and including graphical illustrations to focus students' attention on the most relevant payoff comparisons at each point of the analysis. In addition, exercises are ranked according to their difficulty, with a letter (A-C) next to the exercise number. This allows students to pace their studies and instructors to structure their classes accordingly. By providing detailed worked-out examples, this text gives students at various levels the tools they need to apply the tenets of game theory in many fields of business and economics. The second edition of the text has been revised to provide additional exercises at the introductory and intermediate level, expanding the scope of the book to be appropriate for upper undergraduate students looking to improve their understanding of the subject. The second edition also includes a new chapter devoted entirely to cheap talk games. Revised to appeal to a larger audience of instructors and students, this text is appropriate for introductory-to-intermediate courses in game theory at the upper undergraduate and graduate levels.

This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders' equilibrium behaviour in different auction formats, along with the seller's strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students. The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D. Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.

Common Pool Resources include, for instance, fishing grounds, irrigation systems, forests and the atmosphere. Now more than ever, how we responsibly share and use those goods is a vital issue. This textbook introduces students of economics, business and policy studies to the key issues in the field. It uses a game-theory approach to help readers understand the mathematical representation of how to find equilibrium behavior in CPRs, how to identify the socially optimal appropriation, and how to measure the inefficiencies that arise. Algebra and calculus steps are clearly explained, so students can more easily reproduce the analysis and apply it in their own research. Finally, the book also summarizes experimental studies that tested theoretical results in controlled environments, introducing readers to a literature that has expanded over the last decades, and provides references for further reading.

Common Pool Resources include, for instance, fishing grounds, irrigation systems, forests and the atmosphere. Now more than ever, how we responsibly share and use those goods is a vital issue. This textbook introduces students of economics, business and policy studies to the key issues in the field. It uses a game-theory approach to help readers understand the mathematical representation of how to find equilibrium behavior in CPRs, how to identify the socially optimal appropriation, and how to measure the inefficiencies that arise. Algebra and calculus steps are clearly explained, so students can more easily reproduce the analysis and apply it in their own research. Finally, the book also summarizes experimental studies that tested theoretical results in controlled environments, introducing readers to a literature that has expanded over the last decades, and provides references for further reading.

This textbook presents worked-out exercises on game theory with detailed step-by-step explanations. While most textbooks on game theory focus on theoretical results, this book focuses on providing practical examples in which students can learn to systematically apply theoretical solution concepts to different fields of economics and business. The text initially presents games that are required in most courses at the undergraduate level and gradually advances to more challenging games appropriate for masters level courses. The first six chapters cover complete-information games, separately analyzing simultaneous-move and sequential-move games, with applications in industrial economics, law, and regulation. Subsequent chapters dedicate special attention to incomplete information games, such as signaling games, cheap talk games, and equilibrium refinements, emphasizing common steps and including graphical illustrations to focus students' attention on the most relevant payoff comparisons at each point of the analysis. In addition, exercises are ranked according to their difficulty, with a letter (A-C) next to the exercise number. This allows students to pace their studies and instructors to structure their classes accordingly. By providing detailed worked-out examples, this text gives students at various levels the tools they need to apply the tenets of game theory in many fields of business and economics. This text is appropriate for introductory-to-intermediate courses in game theory at the upper undergraduate and master's level.

Solutions and detailed explanations for odd-numbered end-of-chapter exercises (107 problems) in Felix Munoz-Garcia's Advanced Microeconomic Theory. Felix Munoz-Garcia's Advanced Microeconomic Theory provides examples and exercises that help students understand how to apply theoretical models and offers tools for approaching similar problems on their own. This workbook provides solutions and step-by-step explanations for the odd-numbered exercises (107 problems in total). The answer key and detailed explanations emphasize the economic intuition behind the mathematical assumptions and results and, in combination with the textbook, enable students to improve both their theoretical and practical preparation.