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Economics and Mathematical Theory of Games

Author

Listed:
  • Ajda Fosner

    (University of Primorska, Slovenia)

Abstract

The theory of games is a branch of applied mathematics that is used in economics, management, and other social sciences. Moreover, it is used also in military science, political science, international relations, computer science, evolutionary biology, and ecology. It is a field of mathematics in which games are studied. The aim of this article is to present matrix games and the game theory. After the introduction, we will explain the methodology and give some examples. We will show applications of the game theory in economics. We will discuss about advantages and potential disadvantages that may occur in the described techniques. At the end, we will represent the results of our research and its interpretation.

Suggested Citation

  • Ajda Fosner, 2012. "Economics and Mathematical Theory of Games," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 10(3 (Fall)), pages 245-256.
    • Handle: RePEc:mgt:youmgt:v:10:y:2012:i:3:p:245-256
    as

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    File URL: http://www.fm-kp.si/zalozba/ISSN/1581-6311/10_245-256.pdf
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    References listed on IDEAS

    as
    1. Vega-Redondo,Fernando, 2003. "Economics and the Theory of Games," Cambridge Books, Cambridge University Press, number 9780521775908, January.
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    More about this item

    Keywords

    the theory of games; matrix games; economics;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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