Skip to main content
Taylor & Francis Group Logo
Advanced Search

Click here to search books using title name,author name and keywords.

  • Login
  • Hi, User  
    • Your Account
    • Logout
Advanced Search

Click here to search books using title name,author name and keywords.

Breadcrumbs Section. Click here to navigate to respective pages.

Chapter

Introduction to Game Theory, and a Code of Nature

Chapter

Introduction to Game Theory, and a Code of Nature

DOI link for Introduction to Game Theory, and a Code of Nature

Introduction to Game Theory, and a Code of Nature book

Introduction to Game Theory, and a Code of Nature

DOI link for Introduction to Game Theory, and a Code of Nature

Introduction to Game Theory, and a Code of Nature book

ByMichael Hatfield
BookGame Theory in Management

Click here to navigate to parent product.

Edition 1st Edition
First Published 2012
Imprint Routledge
Pages 12
eBook ISBN 9781315583778

ABSTRACT

This chapter discusses two strong implications for the role of Game Theory in management: Game Theory's capability in the realm of predicting likely strategies - mixed or pure to adopted by participants in an economic environ should be considered severely restricted. Its ability to support specific narratives on why things went well or poorly for the organization, in an economic sense, deserves stricter scrutiny than is often afforded, especially when the logical connection between facts and narratie based solely on modus ponens. The implications for Game Theory in economics are numerous - myriad, even. The maximum and minimum payoff strategy also represents a subgame perfect Nash Equilibrium, meaning that, mathematically speaking, the 99-1 payoff strategy is strongly consistent with Game Theory predictive models. The very title of Von Neumann's book, Theory of Games and Economic Behavior, implies an attempt to set boundaries on the available payoffs in Game Theory by specifying that the subject matter is restricted to 'economic behavior'.

T&F logoTaylor & Francis Group logo
  • Policies
    • Privacy Policy
    • Terms & Conditions
    • Cookie Policy
    • Privacy Policy
    • Terms & Conditions
    • Cookie Policy
  • Journals
    • Taylor & Francis Online
    • CogentOA
    • Taylor & Francis Online
    • CogentOA
  • Corporate
    • Taylor & Francis Group
    • Taylor & Francis Group
    • Taylor & Francis Group
    • Taylor & Francis Group
  • Help & Contact
    • Students/Researchers
    • Librarians/Institutions
    • Students/Researchers
    • Librarians/Institutions
  • Connect with us

Connect with us

Registered in England & Wales No. 3099067
5 Howick Place | London | SW1P 1WG © 2021 Informa UK Limited