Game Theory is a technique used to understand how and why people make rational decisions. Although often considered applicable to economics, it has also been used in biology to understand evolution, and more recently applied to business and decision-making by customers and others. The principle beh...
Game theorySteadily growing applications of game theory in modern science (including psychology, biology and economics) require sources to provide rapid access in both classical tools and recent developments to readers with diverse backgrounds. This book on game theory, its applications and mathematical ...
There is a long-standing literature on regulation of the electricity industry, with scholars from across different disciplines contributing, including economics and game theory [15, 47], law [5], and political science [19]. Initially the focus was on regulation of monopolies, which, although comp...
Evolutionary game theory mathematically conceptualizes and analyzes biological interactions where one’s fitness not only depends on one’s own traits, but also on the traits of others. Typically, the individuals are not overtly rational and do not select, but rather inherit their traits. Cancer ca...
In this lecture note, we introduce the basic concepts of game theory (GT), a branch of mathematics traditionally studied and applied in the areas of economics, political science, and biology, which has emerged in the last fifteen years as an effective framework for communications, networking, an...
What is the Arbitrage Pricing Theory (APT)? a. Who developed the model? b. How is it used? c. What are its applications? d. What empirical tests have been done? How is regression analysis used in mathematical finance? How does a...
Business Economics Oligopoly Why is the game theory a good model to simulate the oligopoly market? What are the advantages of...Question:Why is the game theory a good model to simulate the oligopoly market? What are the advan...
Social institutions are found in every society—family, education, religion, politics, economics, science, sports, and health care. They provide the rules, roles, and relationships to meet human needs and guide human behavior. They are the parts of the social structure in societies through which...
subscribe to receive insights on behavioral economics and management view the full collection we all make mistakes, of course, but unusual time pressure can make even the smartest person seem incompetent. why? as new research suggests, we have a finite capacity for making good decisions, an...
Economics Business, Management and Accounting Continuing Professional Development Sustainability Education, Training & Leadership Study Skills 1. Introduction Micro, small, and medium enterprises (MSMEs) play an important role in improving the economies of various countries because the MSME sector has the ...