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Game Theory

Question # 00125947
Subject: Economics
Due on: 10/31/2015
Posted On: 10/29/2015 05:27 AM

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Answer the following questions in your own words

The "Prisoner's Dilemma" was the gateway to the strategic viewpoint of game theory. In this assignment, you will explore the applications of game theory to economic business decisions.

Use the following information to ensure successful completion of the assignment:

  1. Include two scholarly resources other than those in the assigned readings with appropriate references and in-text citations
  2. Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

In a paper of 1,750-2,000 words, discuss how game theory is being applied to business decisions. Include the following:

  1. A brief overview of game theory.
  2. A description of the economic implications of game theory.
  3. A description of how game theory is being applied in making business decisions.
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Strategic viewpoint of game theory

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Preview: other xxxxxx has xxxx following The xxxxxx of differential xxxxx can xx xxxxxxx in xxxxxx decision for xxx global nuclear xxxxxxxxxx such xx xxxxxxxxxx In xxxxxxxxxx game theory xxx been used xx studying xxxxxxxxxxx xxx markets, xxxxxxxxxxxx planning under xxxxxxxxxxxx and so xxxxx Therefore, xxxxx xxxx areas xx game theory xxxxxxxxxxxx require extensive xxxxxxxxxxx of xxx xxxxxxxx Moreover, xxxxx business areas xxxxx game theory xxx be xxxxxxx xxx sociology, xxxxxxxx law, ethics, xxxxxx science and xxxxxxx games xxx xxxxx need xx applying game xxxxxx to these xxxxxx is xxx xxxxxxxxxxxx of xxx entire game xxxxxx problem which xxxxx the xxxxxx xxxxxx of xxx move in xxx game over xxx result xx xxx existing xxxxxx of each xxxxxx Therefore, a xxxxxxx study xxx xxxxxxxxxxx of xxxxx fundamentals is xxx key to xxxx full xxx xx game xxxxxx applications The xxxxxxxxx uses of xxxx theory xxx xxx that xxxx fruitful because xxx needs to xxxxxxxxxx the xxxx xx economics xxx the concepts xx order to xxxx business xxxxxxxxx xxxxx on xxx game theory xxx we can xxxx a xxxx xx the xxxx important use xx the game xxxxxx and xxx xxxxxxxxxxx These xxxx It provides xxx practical advice xx the xxxxxxxx xxxxxxx to xxx well-defined situations xxxx as in xxxx of.....
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Game theory is better defined as the formal study of the conflict and

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Tutorial Preview …study xx the…
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Game_theory.docx (23.57 KB)
Preview: making x decision xx addition, economists xxx known to xxx the xxxx xxxxxx in xxxxxxxxxxx predicting and xxxxxxxxxx the people’s xxxxxxxxxx (Gigerenzer xxxxx xxxxxxxxxxx 2011) xx this regard, xxxx have successfully xxxx it xx xxx study xx the individuals xxxxxxxx bargaining processes, xxxxxx pricing xxx xx oligopolies xx opposed to xxx conventional analysis, xxx game xxxxxx xx always xxxxxxx in the xxxxxxxxxxxxxx of a xxxxxxxxxxx of xxxxxxxx xxxxxxxxxxx which xxxxxxxxxx more than xxx likelihood outcome xxxx the xxxxxxxxxxxx xxxxxx as xxxxxxxxxxxx Game theories xxx also used xx the xxxxx xx cooperative xxxxx where the xxxxxxx may form xxxxxxxxxx for xxx xxxxxxx of xxxxxxxxx with other xxxxxxx and uncooperative xxxxx where xxxx xxxxxx plays xxxxxxxxxxxxx Initially game xxxxxx effects on xxxxxxxxx were xxxxxxxxxx xx the xxxx of zero xxx games whereby xx one xxxxxxxxxx xxxx the xxxxx must have xxxx Considering this xxxxxxxxxx the xxxxx xxxxxxx is xxxxx moved to xxx multiple players, xxxxxxxx sum-games xxxxx xxx players xxx gain due xx the gains xxxx the xxxxx xxxxxxx out xxxxxxx different people xxxxxxx 2012 It xx therefore xxxxxxxxxx xxxx argue xxxx game theory xx economics acts xx an xxxxxxxx xxx changing xxx existing trials xx the markets xx ensure xxxx xxx best xxxxxxxx is produced xxx the players xx such x xxxxxxxx environment xxxxxxx 2012) The xxxxxx assumes that xxx free xxxxxx xx categorised xx one that xxx the capacity xx moving xxxxxx xxxxxx and xxxxxxxxx in the xxxxxxxxx the efficient xxxxxxxx The xxxxxxxxx xxxx not xxxxx in the xxxxxxx that lacks xxxxxxxxxx interventions xxx xx all xxxxxx types in xxx world Use xx game xxxxxx xxx making xxxxxxxx decisionsIn most xxxxxx game theory xx normally xxxx xx a xxxxxxxxxx decision making xxxx that predominantly xxxxxx on xxx xxxxx concept xx understanding the xxxxxxxxx interactions those xxxxxxx from xxx xxxxxxxxx of xxx competition or xxxxxxxxxxx process In xxxx cases, xxxx xxxxxx is xxxx as a xxxx of decision xxxxxx in x xxxxxxxx of xxxxxxxxx business situations xxxxxxxxx & Sheremeta, xxxxx For xxxxxxxxx xx an xxxxxxxxxx where there xxx two or xxxx decision xxxxxx xxx in xxxx case none xx the decision xxxxxx have xx xxxxxxxx power xxxx the final xxxxxxx However, it xx important xx xxxx that xxx final decision xxxx is made xx.....
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emotional intelligence

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Tutorial Preview …C xxxxxx Emotional xxxxxxxxxxxx and organizational xxxxxxxxxxxxx The emotionally xxxxxxxxxxx workplace: xxx xx select xxxx measure, and xxxxxxx emotional intelligence xx individuals, xxxxxxx xxx organizations, xxxxx The article xxxxx that emotional xxxxxxxxxxxx plays x xxxxxxxx role xx the appropriate xxxxxxxxxx an d xxxxxxx of xxxxxxxxxxxxx xxxxxxxxxxxx Emotional xxxxxxxxxxxx is defined xx the capacity xx an xxxxxxxxxx xx be xxxxx and even xxxxxxx their own xxxxxxxx as xxxx xx recognize xxx appreciate the xxxxxxxx of other xxxxxx as xxxx xxxxxxx emotional xxxxxxxxxxxx an individual xxx be able xx make x xxxxxxxxxxx and xxxxxxxxx between the xxxxxxxxx feelings and xxxxx them xx xx appropriate xxxxxx Managers qrunning xxx multinational corporations xxxxxxxxx apply xxx xxxx concepts xx their appropriate xxxxxxxxxx and handling xxx major xxxxxx xxxxxxxxxx…
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emotional_intelligence_3.docx (16.28 KB)
Preview: intelligence xxxxxxxxxxxxxxx Emotional xxxxxxxxxxxx and corruption xx multinational corporationsCherniss, x (2001) xxxxxxxxx xxxxxxxxxxxx and xxxxxxxxxxxxxx effectiveness The xxxxxxxxxxx intelligent workplace: xxx to xxxxxx xxxx measure, xxx improve emotional xxxxxxxxxxxx in individuals, xxxxxxx and xxxxxxxxxxxxxx xxxxx The xxxxxxx cites that xxxxxxxxx intelligence plays x critical xxxx xx the xxxxxxxxxxx governance an x running of xxxxxxxxxxxxx corporations xxxxxxxxx xxxxxxxxxxxx is xxxxxxx as the xxxxxxxx of an xxxxxxxxxx to xx xxxxx and xxxx control their xxx emotions as xxxx as xxxxxxxxx xxx appreciate xxx emotions of xxxxx people as xxxx Through xxxxxxxxx xxxxxxxxxxxx an xxxxxxxxxx can be xxxx to make x correlation xxx xxxxxxxxx between xxx different feelings xxx label them xx an xxxxxxxxxxx xxxxxx Managers xxxxxxxx the multinational xxxxxxxxxxxx therefore apply xxx same xxxxxxxx xx.....
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abc tech document

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Tutorial Preview …this xxxxx case xxxxxxxxx ABCTech is x software production xxxxxxx that xxx xxxxxxxxxx by xxx friends The xxxxxxx is aimed xx providing x xxx cyber xxxxx fighting software xxxx no other xxxxxxxx the xxxxxxx xx faced xx challenges in xxx funding since xx requires xxxx xxxxxxx revenue xxxx expected by xxx founders Challenges xxx experienced xx xxx founder xxx co-founder of xxx company are xxxxx working xxx xxxxxxx large xxxx company and xxxx not yet xxxxxx generating xxxxxx xxxxxxx from xxxxx company This xx because they xxxx part xxxx xx their xxxxxx during the xxxxxxx before they xxx fully xxxxxxxxxxx xx full xxxxxxxxx capacity Despite xxxx not generating xxx salary xxxx xxxxx company, xxx company has xxxxxx recorded a xxxxxxx million xx xxxxxxx within xxx first year xx operation This xxxxxxx is xxxxxxxxx xx double xxxxxx its second xxxx However, they xx not xxxx xxx resources xx fund this xxx are looking xx to xxxxxxx xxx their xxxxxxx One of xxx available options xxxxxxxx getting x xxxx which xxxx be substantial xx helping them xxxxxxx a xxxxxxx xxxxx essential xx improving their xxxxxxx (W J xxxxx A xxxxx xxx marketing xxxxxxx is among xxxxx top priorities xx it xxxxx xx of xxxxx significance This xx because they xx acknowledge xxxx xxxx do xxx have the xxxxxxxx marketing skills xxxxxxx in xxxxx xxxxxxxxxxx growth xxxxxxx of the xxxxxxxx Issue Taking xx a xxxx xx one xx the options xxxx they take xx in xxxxx xxx to xxxxxxxx their revenue xxxxxxxx this option xxxxx up xxxx xxx own xxxxxxxxxxxxx This is xx the sense xxxx the xxxxxx xx this xxxxxxxx may require x considerate expense xx revenue xxxxxxxxxxxxxx xxxx may xxx work out xxx the company xxxxx their xxxxxxxxxxxxx xxx a xxxxxx expense to xxxxxxx rate, which xxx lender xxx xxx find xxxxxxxxx This is xxxxxxx the company’s xxxxxxxx are xxx xxxx for x startup company xxxx is in xxxxx them xxx xxxxxx any xxxxxxxxx in their xxxxxxx …
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ABCTech_(1).docx (21.24 KB)
Preview: for xxxxxxxxx who xxx be interested xx investing in xxxxx company xxx x certain xxxxxxxxxx may be x realistic solution xxxx has xxxx xx emerging xxxxx where companies xxxx out investors xxx may xx xxxxxxxxxx in xxxxxxx their company xxx in return xxx a xxxx xx the xxxxxxx If the xxxxxxx and co-founder xx ABCTech xxxxxxxxxx xxxx option, xx would pose x few advantages xxxxxx their xxxxxxxxx xxxxxxx This xx in the xxxxx that in xxxxx them xxxxxx xxx a xxxxxxxxxx of their xxxxxxxx they still xxxxxx a xxxxxx xxxxxxxxxx This xxxx be essential xx the aspect xxxx they xxxx xxxxxx a xxxxxxxxxxx say in xxx daily operations xx the xxxxxxx xxxx is xxxxxxxxx from where xxxx would have xx sell xxx xxxxxxx which xxxx include sign xxxx full ownership xx the xxxxxxx xx this xxxxxxx the company xxx also have xxx option xx xxxxxx back xxx percentage sold xx the investors xx the xxxx xxx This xx an option xxxx the company xxxxxxx need xxxxxxx xxxx its xxxxxxxxx before the xxxxxxx of the xxxxx and xxxxxxxxxx xxx founder xxx co-founder of xxxxxxx may also xxxxxxxx selling xxx xxxxxxx at x higher price xxx under different xxxxx This xxxxxxxx xxxxxxxxx terms xxxx may benefit xxx founder and xxxxxxxxxx where xxxx xxx ask xx retain a xxxxx percentage of xxx company xxx xxx small xxxxxxx bonuses in xxxx sale the xxxxxxx makes xx xxxxxx In xxx long run xxxx may be x very xxxxxxxxxx xxxx for xxxx considering they xxxx barely be xxxxxxxx in xxx xxxxx operations xx the company xxxx may be xxx best xxxxxx xx spite xx the fact xxxx they will xxxx little xxx xx how xxxx company will xxxxxxx Ethical Complications xx the xxxxxxxx xxxxxxxxxxx ABCTech xx a company xxxxxxxxxx the importance xx good xxxxxx xx its xxxxxxxx operations This xx because they xxxxxxxxxx that xxxx xxx essential xx the sustainability xxx growth of x business xxxxxxxx xxx proposed xxxxxxxxxxx.....
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case study docks

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Tutorial Preview …POTENTIAL xxxxxxxxxxx -Outsourcing xxxxxxxxx through selling x fraction of xxx company xxxxx xx ideal: xxxxx is because, xx spite giving xxx some xxxxxxx xxx founders xxxxx retain a xxxxxxxx stake in xxx company xxxxxxxx xxxxxxxxxxx a xxxxxxxx stake in xxx company, the xxxxxxxx will xxxxx xxxxxx their xxxxxxxxx -Thus, they xxxx eventually have xxx opportunity xx xxxx a xxxxx and marketing xxxxxxx of their xxxxxx -selling xxx xxxxxxx at x higher price xxx retaining some xxxxxx in xxx xxxxxxx would xxxx be ideal x This is xxxxxxx the xxxxxxxx xxxx get xxxxx for their xxxxxxx where they xxxx acquire xxxxxxxxx xxxxxxxx -However, xxxxxxx this option, xx won’t be xxxxxxxx for xxx xxxxxxxx to xxxx a sales xxx marketing manager xxxxx is xxxxxxx xxxx would xxx be involved xx such decision xxxxxx since xxxx xxxxx have xxxxxx away such xxxxxxxxxx ETHICAL IMPLICATIONS xx THE xxxxxxxxx xxxxxxxxxxx -Through xxxxxxx into the…
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case_study_dockx_ppt.pptx (260.65 KB)
Preview: relevance xx a xxxxx and marketing xxxxxxx POTENTIAL RESOLUTIONS xxxxxxxxxxx investors xxxxxxx xxxxxxx a xxxxxxxx of the xxxxxxx would be xxxxxx This xx xxxxxxxx in xxxxx giving out xxxx shares, the xxxxxxxx still xxxxxx x majority xxxxx in the xxxxxxx Through maintaining x majority xxxxx xx the xxxxxxxx the founders xxxx still attain xxxxx objective xxxxx xxxx will xxxxxxxxxx have the xxxxxxxxxxx to hire x sales xxx xxxxxxxxx manager xx their choice xxxxxxx the company xx a xxxxxx xxxxx and xxxxxxxxx some shares xx the company xxxxx also xx xxxxx This xx because the xxxxxxxx will get xxxxx for xxxxx xxxxxxx where xxxx will acquire xxxxxxxxx benefits However, xxxxxxx this xxxxxxx xx won’t xx possible for xxx founders to xxxx a xxxxx xxx marketing xxxxxxx This is xxxxxxx they would xxx be xxxxxxxx xx such xxxxxxxx making since xxxx would have xxxxxx away xxxx xxxxxxxxxx ETHICAL xxxxxxxxxxxx OF THE xxxxxxxxx RESOLUTIONS -Through xxxxxxx into.....
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