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International Journal of Economics & Management Sciences

ISSN: 2162-6359

International Journal of Economics & Management Sciences

Game theory

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Game theory

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Game theory is a technique for analysing how people, firms and governments should behave in strategic situations i.e., in which they must interact with each other, and in deciding what to do must take into account what others are likely to do and how others might respond to what they do. For instance, competition between two firms can be analysed as a game in which firms play to achieve a long-term. This theory helps each firm to develop its optimal strategy for pricing its products and deciding how much to produce; it can help the firm to anticipate in advance what its competitor will do and shows how best to respond if the competitor does something unexpected. It is particularly useful for understanding behaviour in monopolistic competition.

Related journals of Game theory 
Journal of Stock & Forex Trading, International Journal of Game Theory, International Game Theory Review, Journal of Game Theory, Games and Economic Behavior

 

 

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