A Survey Of Dynamic Games In Economics

This book provides readers with a comprehensive survey of models of dynamic games in economics, including an extensive coverage of numerous fields of applications. It will also discuss and explain main concepts and techniques used in dynamic games, and inform readers of its major developments while equipping them with tools and ideas that will aid in the formulation of solutions for problems. A Survey of Dynamic Games in Economics will interest those who wish to study more about the conceptions, approaches and models that are applied in the domain of dynamic games.

This book, an outgrowth of the 10th International Symposium on Dynamic Games, presents current developments of the theory of dynamic games and its applications. The text uses dynamic game models to approach and solve problems pertaining to pursuit-evasion, marketing, finance, climate and environmental economics, resource exploitation, as well as auditing and tax evasions. It includes chapters on cooperative games, which are increasingly drawing dynamic approaches to their classical solutions.

Dynamic games continue to attract strong interest from researchers interested in modelling competitive as well as conflict situations exhibiting an intertemporel aspect. Applications of dynamic games have proven to be a suitable methodology to study the behaviour of players (decision-makers) and to predict the outcome of such situations in many areas including engineering, economics, management science, military, biology and political science. Dynamic Games: Theory and Applications collects thirteen articles written by established researchers. It is an excellent reference for researchers and graduate students covering a wide range of emerging and revisited problems in both cooperative and non-cooperative games in different areas of applications, especially in economics and management science.

Dynamic game theory serves the purpose of including strategic interaction in decision making and is therefore often applied to economic problems. This book presents the state-of-the-art and directions for future research in dynamic game theory related to economics. It was initiated by contributors to the 12th Viennese Workshop on Optimal Control, Dynamic Games and Nonlinear Dynamics and combines a selection of papers from the workshop with invited papers of high quality.

Dynamic games arise between players (individuals, firms, countries, animals, etc.) when the strategic interactions among them recur over time and decisions made during one period affect both current and future payoffs. Dynamic games provide conceptually rich paradigms and tools to deal with these situations.This volume provides a uniform approach to game theory and illustrates it with present-day applications to economics and management, including environmental, with the emphasis on dynamic games.At the end of each chapter a case study called game engineering (GE) is provided, to help readers understand how problems of high social priority, such as environmental negotiations, exploitation of common resources, can be modeled as games and how solutions can be engineered.

Game theory is the study of strategic behavior in situations in which the decision makers are aware of the interdependence of their actions. This innovative textbook introduces students to the most basic principles of game theory - move and countermove - with an emphasis on real-world business and economic applications. Students with a background in principles of economics and business mathematics can readily understand most of the material.Demonstration problems in each chapter are designed to enhance the student's understanding of the concepts presented in the text. Many chapters include non-technical applications designed to further the student's intuitive understanding of strategic behavior. Case studies help underscore the usefulness of game theory for analyzing real-world situations. Each chapter concludes with a review and questions and exercises. An online Instructor's Manual with test bank is available to professors who adopt the text.