Contents 1 What is game theory? 2 Definitions of games 3 Dominance 4 Nash equilibrium 5 Mixed strategies 6 Extensive games with perfect information 7 Extensive games with imperfect information 8 Zero-sum games and computation 9 Bidding in auctions 10 Further reading 4 6 8 12 17 22 29 33 34 38 This is the draft of an introductory survey of game theory, prepared for the Encyclopedia of Information Systems, Academic Press, to appear in 2002. ∗ 1 Glossary Backward induction Backward induction
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Syllabus School of Business COM/537 Version 1 Organizational Communication Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course prepares graduate students to apply written and oral communication principles to the roles they play as managers. Students will learn how to persuade a variety of stakeholders to commit to a proposal. Other topics include the role of perception in communication techniques, aligning communication to an audience, business
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its satisfaction (“utility”) profits ------------------------------- ------------------------------ CONSUMPTION THEORY PRODUCTION THEORY 1 We will first study consumption and later production. In the third part of the course we will take the “demand” schedule from the consumption analysis and the “supply” schedule from the production analysis and put them together in a market. The price, and the quantity exchanged will be determined in the market. We will also discuss
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Game Theory Game A game is a formal description of a strategic situation. Game Theory Game theory is the formal study of decision-making where several players must make choices that potentially affect the interests of the other players. Mixed Strategy A mixed strategy is an active randomization, with given probabilities, that determines the player’s decision. As a special case, a mixed strategy can be the deterministic choice of one of the given pure strategies. Nash Equilibrium A Nash
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trivia game. Reiss, as an entrepreneur, saw the changing market and the opportunity it created. Secondly the opportunity was only there for a short period of time. Reis predicted that the new trivia game would sell for only one year. Larger companies want to invest in opportunities that are profitable for a more than one year. Reis exploited the opportunity with the (correct) assumption that it wouldn't last for more than a year. Finally, Reis, who outsourced all the steps of the production, development
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The Business Strategy Game COMPETING IN A GLOBAL MARKETPLACE 2012 Edition Player’s Guide Created by Arthur A. Thompson, Jr. The University of Alabama Gregory J. Stappenbeck GLO-BUS Software, Inc. Mark A. Reidenbach GLO-BUS Software, Inc. The Online Edition of The Business Strategy Game is published and marketed exclusively by McGraw-Hill/Irwin, 1333 Burr Ridge Parkway, Burr Ridge, IL 60527 Copyright © 2012 by GLO-BUS Software, Inc. All rights reserved. No part of this document
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time, there is product differentiation. Product differentiation allows firms to charge a high price and collect some profits. Monopolistic Competition Examples: music CDs (every artist has a different CD), movies (every film is different), computer games, restaurants, athletic apparel (adidas, nike, umbro, Turkish brands), etc. Two dimensions: 1-Number of firms 2-Product differentiation Perfect
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and secondary readings recommended in the E-book. These should be read as well. They will be fully referenced as we continue together to write this E-book on the web. Interesting books on related themes to read are Roberts (2004): The Modern Firm: Games, Strategies and Managers and Nalebuff and Dixit (2008): The Art of Strategy. For my MBA students you will be reading either Baye (2008): Managerial Economics and Business Stratagy or Besanko (2007): Economics of Strategy. For clients using my services
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how to invest his/her savings. When running a small business or a large corporation, and one will decide what prices to charge for his/her products. The economic tools, which will be discussed in this course, will give you a new perspective on how best to make these decisions. Following ten economic principles can be applied in many of life’s situations, whether the future finds you reading the newspaper, running a business, or sitting in the work place. These economic principles are (i) managers
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*CASE STUDY 11* Competition in Video Game Consoles: The State of the Battle for Supremacy AUTHORS: Christian Kostadinov 29114042 Ivaylo Baldev 29114047 Sofia 2010 Competition in Video Game Consoles: The State of the Battle for Supremacy Objectives in front of the case study The main objective that stands in front of our project is to clarify the present situation on the market of video console games. To present the strategies of the three main rival firms-Sony, Nintendo and
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