Title: A STUDY OF GAME THEORY AND ITS APPLICATION IN ECONOMICS
Authors: MOHD TARIQ
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MOHD TARIQ
Associate Professor, Dept. of Economics, G. F. College, Shahjahanpur
MLA 8 Tariq, Mohd. "A STUDY OF GAME THEORY AND ITS APPLICATION IN ECONOMICS." Int. j. of Social Science and Economic Research, vol. 3, no. 12, Dec. 2018, pp. 7554-7557, ijsser.org/more2018.php?id=553. Accessed Dec. 2018.
APA 6 Tariq, M. (2018, December). A STUDY OF GAME THEORY AND ITS APPLICATION IN ECONOMICS. Int. j. of Social Science and Economic Research, 3(12), 7554-7557. Retrieved from ijsser.org/more2018.php?id=553
Chicago Tariq, Mohd. "A STUDY OF GAME THEORY AND ITS APPLICATION IN ECONOMICS." Int. j. of Social Science and Economic Research 3, no. 12 (December 2018), 7554-7557. Accessed December, 2018. ijsser.org/more2018.php?id=553.
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Abstract: In this research article, we introduce Game theory has been used as a potent analytical tool by
numerous areas since its inception. The major ideas of game theory are summarized in this
paper, as well as their application in microeconomics. This research article also gives an
overview and definition of relevant terminologies related to this theory like a game, Nash
equilibrium, and dominance which form the basis of the theory con- cept. Finally, in the last
section, it also focuses on extensive games, mixed strategies, with both perfect and imperfect
information, and their relevant practical application of the concept as applied in the field of
economics.
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