Open AccessJournal Article
Game theory in economics
TLDR
The game theory approach is now very widely used throughout the profession and has become a major tool for the construction of new economic models and has led to important developments in finance, labour economics and international trade as mentioned in this paper.Abstract:
During the 1980s, economic theory has been revolutionised by game theory. The game theory approach is now very widely used throughout the profession and has become a major tool for the construction of new economic models. It is the basic tool in the construction of a modern theory of industrial organisation and it has led to important developments in finance, labour economics and international trade.read more
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