Applied Game Theory and Strategic Behavior

by Ilhan K. Geckil, Patrick L. Anderson

Overview

Useful Tools to Help Solve Decision Making Problems

Applied Game Theory and Strategic Behavior demonstrates the use of various game theory techniques to address practical business, economic, legal, and public policy issues. It also illustrates the benefits of employing strategic thinking that incorporates the uncertainty surrounding the behavior of other parties.

Real-world applications of game theoryExploring a variety of games, the book outlines the process of modeling game theory questions while thinking strategically. It introduces core concepts through simple examples and case studies taken from the authors’ consulting work in the automotive, beer, wine, and spirits industries as well as in debates over government regulation. The authors include newly developed software applications that can construct and solve game theory models and present strategic options in clear, visual diagrams.

Out of the box and into the business worldStriking the right balance between necessary mathematics and practical applications, this book shows how game theory can be used in real life, not just in mathematical models. It helps readers improve their strategic thinking, define games based on actual situations, model games with payoffs and probabilities, and make strategically sound decisions.

Product Details

ISBN-13:	9781040068656
Publisher:	CRC Press
Publication date:	04/19/2016
Sold by:	Barnes & Noble
Format:	eBook
Pages:	230
File size:	4 MB

About the Author

A senior consultant at Anderson Economic Group, Ilhan Kubilay Geckil specializes in corporate finance, economics, business valuation, risk analysis, M&A, and strategic consulting. He provides economic forecasts for Bloomberg's monthly economic survey. One of his recently published papers was honored as the Edmund A. Mennis Contributed Paper Award of the National Association for Business Economics. Mr. Geckil holds a Master's in Economics from the Eli Broad Graduate School of Management at Michigan State University and a Bachelor's in Economics from Koc University in Istanbul, Turkey.

Patrick L. Anderson is the founder and CEO of Anderson Economic Group. Prior to starting his company, Mr. Anderson served as the Chief of Staff for the Michigan Department of State and Deputy Budget Director under former Governor John Engler. A recognized authority on business valuation and commercial damages, Mr. Anderson has provided expert testimony, management, and strategic consulting. He is the executive editor of three edition of the State Economic Handbook and has written more than 100 published works, including the book Business Economics and Finance and a chapter in Litigation Economics. Mr. Anderson is a graduate of the University of Michigan, where he earned a Master's of Public Policy and a B.A. in political science.

Table of Contents

Preface. A Brief History of Game Theory. Introduction to Game Theory Concepts and Strategy. Modeling Games with MATLAB and Experimenting Games. Theory of Strategic Value. A Dynamic Game of Asymmetric Information in the Beer Industry. Consolidation in the Wine and Spirits Industry. A Regulatory Game: CAFE Standards and Competing Automakers. On Auto Industry Crisis of 2008 and Analysis of a Potential Merger: Strategic Approach. Game Theory and Law: Antitrust Game. Bibliography. Index.