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 TheoryMathematical ModelingEvolutionary BiologyConflict and CooperationMulti-Criteria OptimizationCollective ChoiceReplicator DynamicsFinancial MathematicsRainbow OptionsStructural StabilitySteadily growing applications of game theory in modern science (including psychology, biology and economics) require sources to ...
1. Provide a definition of Managerial economics and explain how managers can benefit by studing this subject? 2. An entrepreneur says his business is worth $2 million because it has assets worth that Define game theory, payoff matrix/table, and nash equilibrium. E...
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...
In their variety they reflect an entire spectrum of coexisting approaches: from orthodox game theory via behavioral game theory, bounded rationality and economic psychology to experimental economics. ...doi:10.1057/9780230523371Huck, SteffenPalgrave Macmillan UK...
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...
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 ...
– thus contributing to legal, governance or behavioral economics theory. Third, social scientists might seek to critically deconstruct a situation or issue in order to construct more effective solutions (Toomey, 2016). For example, there has been a long history of critical social science research ...
P. Anderson Perspective: Complexity theory and organization science Organization Science, 10 (3) (1999), pp. 216-232 CrossrefView in ScopusGoogle Scholar Arentz et al., 2013 J. Arentz, F. Sautet, V. Storr Prior-knowledge and opportunity identification Small Business Economics, 41 (2) (2013...