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Full Description
Useful Tools to Help Solve Decision Making Problems
Applied Game Theory and Strategic Behavior demonstrates the use of various game theory techniques to address practical business, economic, legal, and public policy issues. It also illustrates the benefits of employing strategic thinking that incorporates the uncertainty surrounding the behavior of other parties.
Real-world applications of game theoryExploring a variety of games, the book outlines the process of modeling game theory questions while thinking strategically. It introduces core concepts through simple examples and case studies taken from the authors' consulting work in the automotive, beer, wine, and spirits industries as well as in debates over government regulation. The authors include newly developed software applications that can construct and solve game theory models and present strategic options in clear, visual diagrams.
Out of the box and into the business worldStriking the right balance between necessary mathematics and practical applications, this book shows how game theory can be used in real life, not just in mathematical models. It helps readers improve their strategic thinking, define games based on actual situations, model games with payoffs and probabilities, and make strategically sound decisions.
Contents
Preface. A Brief History of Game Theory. Introduction to Game Theory Concepts and Strategy. Modeling Games with MATLAB and Experimenting Games. Theory of Strategic Value. A Dynamic Game of Asymmetric Information in the Beer Industry. Consolidation in the Wine and Spirits Industry. A Regulatory Game: CAFE Standards and Competing Automakers. On Auto Industry Crisis of 2008 and Analysis of a Potential Merger: Strategic Approach. Game Theory and Law: Antitrust Game. Bibliography. Index.
