Applied Game Theory and Strategic Behavior

Applied Game Theory and Strategic Behavior

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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 more

Product details

  • Electronic book text | 230 pages
  • Taylor & Francis Ltd
  • Chapman & Hall/CRC
  • London, United Kingdom
  • 44 Tables, black and white; 34 Illustrations, black and white
  • 158488844X
  • 9781584888444

Table of contents

Preface A Brief History of Game Theory Why Study Games? Rapid Discoveries in the Twentieth Century Recognition Introduction to Game Theory Concepts and Strategy Game Theory, Strategic Behavior, and Strategy Consumer Behavior, Utility Theory, and Game Theory Game-Theoretic Models and Illustration Rules of the Game Strategy and Equilibrium Complex Games and Games by Categories Other Key Game Theory Concepts Modeling Games with MATLAB and Experimenting Games Prisoner's Dilemma Battle of the Sexes A Sample Game of Dominated Strategies with MATLAB Theory of Strategic Value Introduction: The Game of Business Strategy and Value States of Nature State Variables for Business: Control Variables The Event Tree and Dynamic Payoffs The Firm Real Options and Management Flexibility What Is "Value" for a Firm? A Dynamic Game of Asymmetric Information in the Beer Industry A Game between a Global Brewer and a Growing National Beer Importer Regulated Alcoholic Beverages Industry and Three-Tier System in the United States Sales Performance of Gambrinus: General Import Market Incentives at the Time of the 1996 Decision Strategic Options Available in 1996 and the Game Game-Theoretic Model Consolidation in the Wine and Spirits Industry Economic Structure of the Industry The Wine and Spirits Industry and Consolidation A Hypothetical Consolidation Description of the Game A Regulatory Game: CAFE Standards and Competing Automakers Introduction History of Corporate Average Fuel Efficiency (CAFE) Current Debates Statement of the Problem and the Strategic and Game Theoretical Motivation behind CAFE Building the Game and Players, Strategies, Payoffs, and Solution On Auto Industry Crisis of 2008 and Analysis of a Potential Merger: Strategic Approach Introduction and Cause of the 2008 Auto Industry Crisis Likely Scenarios for the Automotive Industry Economic and Industry Conditions Key Events to Date Discussion of Potential Scenarios Strategic Approach to a Potential Merger: Strategies of Key Players Game Theory and Law Introduction Game Theory Examples in Law Antitrust Case Study: United States of America, et al., v. Microsoft Corporation Game-Theoretic Model in Microsoft Antitrust Case and Players The Trial and Conclusions of Law Bibliography Indexshow more

About Ilhan K. Geckil

A senior consultant at Anderson Economic Group, Ilhan Kubilay Geckil specializes in corporate finance, economics, business valuation, risk analysis, M&A, and strategic consulting. He provides economic forecasts for Bloomberg's monthly economic survey. One of his recently published papers was honored as the Edmund A. Mennis Contributed Paper Award of the National Association for Business Economics. Mr. Geckil holds a Master's in Economics from the Eli Broad Graduate School of Management at Michigan State University and a Bachelor's in Economics from Koc University in Istanbul, Turkey. Patrick L. Anderson is the founder and CEO of Anderson Economic Group. Prior to starting his company, Mr. Anderson served as the Chief of Staff for the Michigan Department of State and Deputy Budget Director under former Governor John Engler. A recognized authority on business valuation and commercial damages, Mr. Anderson has provided expert testimony, management, and strategic consulting. He is the executive editor of three edition of the State Economic Handbook and has written more than 100 published works, including the book Business Economics and Finance and a chapter in Litigation Economics. Mr. Anderson is a graduate of the University of Michigan, where he earned a Master's of Public Policy and a B.A. in political more