Business Case Studies & Business Publications

Game Theory: A Very Short Introduction

Hild, Matthias

Technical Note

Game Theory: A Very Short Introduction

Hild, Matthias

QA-0675 | Published January 16, 2006 | 15 pages Technical Note

Collection: Darden School of Business

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This note introduces some key game-theoretic concepts and techniques, with an emphasis on their underlying motivations. It covers the following topics: -Domination -Iterated elimination of dominated strategies -Nash equilibrium -Randomized Strategies -Bayesian equilibrium -Backward induction and perfect equilibrium -Repeated games with a fixed horizon -Repeated games with an open-ended horizon -Evolutionary equilibrium Taken together, those topics provide a brief overview of the most influential ideas within the discipline. The application of these ideas to strategizing in business contexts is left to in-depth case studies.