A Guide to Game Theory explains the important concepts and techniques without using mathematical language or methods.
Using a wide range of examples and applications this book covers decision problems confronted by firms, employers, unions, footballers, partygoers, politicians, governments, non-governmental organisations and communities.
Written for undergraduate students with little or no prior knowledge of game theory. This book supports any game theory module on an economics degree or indeed any course that addresses strategic problem solving.
1. Game theory toolbox
2. Moving together
3. Prisoners' dilemma
4. Taking turns
5. Hidden moves and risky choices
6. Mixing and evolving
7. Mystery players
8. Playing again and again...
9. Bargaining and negotiation
Almost every aspect of life presents us with decision problems, ranging from the simple question of whether to have pizza or ice cream, or where to aim a penalty kick, to more complex decisions like how a company should compete with others and how governments should negotiate treaties. Game theory is a technique that can be used to analyse strategic problems in diverse settings; its application is not limited to a single discipline such as economics or business studies. A Guide to Game Theory reflects this interdisciplinary potential to provide an introductory overview of the subject.
Put off by a fear of maths? No need to be, as this book explains many of the important concepts and techniques without using mathematical language or methods. This will enable those who are alienated by maths to work with and understand many game theoretic techniques.
Suitable for those with no prior knowledge of game theory, studying courses related to strategic thinking. Such courses may be a part of a degree programme in business, economics, social or natural sciences.
Fiona Carmichael is Senior Lecturer in Economics at the University of Salford. She has a wealth of experience in helping students tackle this potentially daunting yet fascinating subject, as recognised by an LTSN award for 'Outstanding Teaching' on her innovative course in game theory.