Description

About The Book

Game theory is one of the most powerful analytical tools in modern economics, shaping how individuals, firms, and governments make strategic decisions. From competitive pricing in markets to global trade negotiations, from regulatory policies to financial crises, the principles of game theory govern countless economic interactions. Game Theory and Its Applications in Economics provides a comprehensive, structured, and application-driven exploration of this dynamic field, bridging the gap between theoretical models and real-world economic challenges.

This book is designed to be a definitive resource for students, researchers, policymakers, and industry professionals who seek to understand and apply game theory in economic contexts. It covers a broad spectrum of strategic interactions, including classic models such as Nash equilibrium, cooperative and non-cooperative games, repeated games, and evolutionary strategies, as well as modern advancements in behavioral and algorithmic game theory.

Unlike conventional texts that focus solely on abstract mathematics, this book integrates empirical case studies, historical applications, and contemporary economic scenarios to illustrate the relevance of game theory in financial markets, international trade, taxation policies, labor markets, industrial organization, law enforcement, and healthcare systems. Readers will gain insights into how firms compete in oligopolistic markets, how governments design optimal policies, how financial speculators influence markets, and how strategic interactions shape economic stability.

The book is structured into nine meticulously curated units, containing 36 chapters and 144 sections, ensuring that each facet of game theory’s economic applications is thoroughly explored.”

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