Analyzing Strategic Behavior in Business and Economics (eBook)

A Game Theory Primer

Thomas J. Webster (Autor)

eBook Download: EPUB

2014
299 Seiten
Lexington Books (Verlag)
978-0-7391-8605-3 (ISBN)

Infos

This innovative textbook is a concise and axiomatic introduction to the principles of game theory—the formal study of move and countermove. Undergraduate business and economics students with a background in the principles of microeconomics and college mathematics will find the material presented in this textbook focused, comprehensive, and accessible.

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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: "e;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."e; 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.

Autor

Thomas J. Webster is a professor of economics in the Department of Finance and Economics of Pace University’s Lubin School of Business in New York City. Before joining the faculty at Pace University, Dr. Webster held positions as an international economist with the Central Intelligence Agency, the U.S. Department of Defense, Manufacturers Hanover Trust Company, and Continental Illinois National Bank and Trust Company. Dr. Webster has served as graduate and undergraduate finance program chair, and as faculty advisor to Beta Gamma Sigma, the international honor society for collegiate schools of business. He is the recipient of the Lubin School of Business Scholarly Research Award for Basic Scholarship, the Lubin School of Business Outstanding Faculty Service Award, the Pace University Award for Distinguished Service, and the Beta Gamma Sigma Commitment to Excellence Award. Dr. Webster received his BA from the School of International Service of American University, and his MA, MPhil, and PhD from the City University of New York.

Inhalt

The extensive formSymmetric impatienceIncomplete-information auctions and risk aversionPractice exercises24.SIGNALINGIntroductionSpence education gamePooling strategySeparating strategyCorporate investment gameMultiple subgame-perfect Bayesian equilibriaPractice Exercises25.SCREENINGIntroductionSelf-selectionSpence education game in reversePractice ExercisesAPPENDICESREFERENCES AND SUGGESTIONS FOR FURTHER READINGINDEX

Produkt-Details

• Erscheint lt. Verlag: 7.2.2014
• Zusatzinfo: 368 Illustrations including: - 368 Black & White Illustrations.
• Sprache: englisch
• Themenwelt: Wirtschaft ► Allgemeines / Lexika
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Marketing / Vertrieb
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
• Schlagworte: Dominant Strategy • Game Theory • Nash Equilibrium • Sequential-move Game • Static Game
• ISBN-10: 0-7391-8605-1 / 0739186051
• ISBN-13: 978-0-7391-8605-3 / 9780739186053