Product Description
by K. H. Erickson (Author)
Game Theory for Business: A Simple Introduction offers an accessible guide to the central ideas and methods of business game theory, with over 35 diagrams to support the analysis.
Understand a business's role, goals and incentives. Examine adverse selection, moral hazard, and a bait and switch strategy, see how a firm may secure long-run gains, and learn what the show business industry can teach other businesses.
Evaluate duopoly price competition, prospects for collusion, and industry entry deterrence using credible commitments and asymmetric information. Look at strategic behaviour with top dog, fat cat, puppy dog ploy, or lean and hungry strategies, Cournot output competition and Bertrand price competition.
See what a business can learn from evolutionary biology, and how a firm may differentiate itself from its rivals.