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- What is the link between game theory and market structures? Which market structure is game theory more linked to?What is game theory? How does it relate to strategic decision making? What do the phrases dominant strategy and Nash Equilibrium mean as they apply to game theory?Using game theory what are some examples in where Nash equilibrium is incorporated?
- Define game theory.From your own understanding on the concept of “Game Theory”, what can you conclude about the relationship between rules of the game and the outcome that results?The following is a static game: Convert this game into dynamic form game. Find the Nash equilibrium and subgame perfect Nash equilibrium of this game. If you consider this game as dynamic then what kind of dynamic game is this.
- What is the nash equilibrium of the game "sticks"?Consider the following extensive form game: Find the Nash equilibrium Find subgame perfect Nash Equilibrium Explain why all Nash equilibriums are not subgame perfectHow many sellers/firms is a few? How would you define “strategic decision-making?” How does game theory relate to strategic decision-making?
