ECON 510 - Applied Game Theory

Credit Hours: 2.00. Game theory is a powerful tool that facilitates a decision making process of individuals. Games are characterized usually by two or more players where any player’s action has an impact on other player’s payoff. Players are decision making units, e.g. individuals, firms, workers, managers, countries etc. Game theory analyzes situations in which people (or other animals) interact by breaking these situations down into basic descriptions of the set of players, the strategies available to these players, and the payoffs that the players receive for different combinations of strategy choices. Permission of department required.Credits: 2.00

ECON 510 - Applied Game Theory

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