Bücher von Thomas J. Webster

This textbook is an introduction to game theory, which is the systematic analysis of decision-making in interactive settings. Game theory can be of great value to business managers. The ability to correctly anticipate countermove by rival firms in competitive and cooperative settings enables managers to make more effective marketing, advertising, pricing, and other business decisions to optimally achieve the firm's objectives. Game theory does not always accurately predict how rivals will act in strategic situations, but does identify a decision maker's best response to situations involving move and countermove. As Nobel Prize winner Thomas Shelling noted: ';We may wish to understand how participants actually do conduct themselves in conflict situations; an understanding of the ';correct' play may give us a bench mark for the study of actual behavior.' The concise and axiomatic approach to the material presented in this textbook is easily accessible to students with a background in the principles of microeconomics and college mathematics. The selection and organizations of topics makes the textbook appropriate for use in a wide range of curricula by students with different backgrounds.

Game theory is the study of strategic behavior in situations in which the decision makers are aware of the interdependence of their actions. This textbook introduces students to the basic principles of game theory - move and countermove - with an emphasis on real-world business and economic applications.

Managerial economics is the application of economic theory and quantitative methods (mathematics and statistics) to the managerial decision-making process. This book contains a chapter on game theory and on the time value of money and capital budgeting. It is intended for students with limited prior training in economics and quantitative methods.