Game Theory

Oligopoly: Stackleberg and Cournot

Experiment with different players and their behavior assumptions. Are players acting strategically and what is the effect? Or is there a firm that has market power?

Two-Person Zero-Sum Games: Basic Concepts

Game theory provides a mathematical framework for analyzing the decision-making processes and strategies of adversaries (or players) in different types of competitive situations. The simplest type of competitive situations are two-person, zero-sum games. These games involve only two players; they are called zero-sum games because one player wins whatever the other player loses. Example: Odds...