Soni, Himanshu and Sharma, Damini (2015): Elementary game theory. Published in: Journal of Economics No. 61699 : pp. 134.

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Abstract
The theory of games (or game theory) is a mathematical theory that deals with the general features of competitive situations. It involves strategic thinking, and studies the way people interact while making economic policies, contesting elections and other such decisions. There are various types of game models, which are based on factors, like the number of players participating, the sum of gains or losses and the number of strategies available. According to strategic reasoning, we can say that the phenomenon where each player responds best to the other is Nash Equilibrium. It is a solution concept of a noncooperative game comprising of two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by only changing their own strategy. Nash equilibrium is best for both players, if all players abide by it. The normal form game (strategic form) does not incorporate any notion of sequence or time of the action of the players. In a normal form game, both players choose their strategy together without knowing the strategies of other players in the game. While the extensive form game is a game, which makes the temporal structure explicit i.e. it allows us to think more naturally about factors such as time. In an extensive game with perfect information there are no simultaneous moves and every player at any point of time is made aware of all the previous choices of all other players.In coalitional games, our focus is on what group of agents, rather than individual agents can achieve.
Item Type:  MPRA Paper 

Original Title:  Elementary game theory 
English Title:  Elementary game theory 
Language:  English 
Keywords:  Game Theory, extensive games, Nash equilibrium, coalitional game theory, prisoner's dilemma, mixed strategy, normal games 
Subjects:  C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory > C70  General C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory > C71  Cooperative Games C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory > C73  Stochastic and Dynamic Games ; Evolutionary Games ; Repeated Games C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory > C79  Other 
Item ID:  61699 
Depositing User:  D Sharma Damini Sharma 
Date Deposited:  11. Feb 2015 14:23 
Last Modified:  11. Feb 2015 14:26 
References:  1. https://class.coursera.org/gametheory003/lecture/preview (December 2014January 2015) 2. http://www.cdam.lse.ac.uk/Reports/Files/cdam200109.pdf (January 2015) 3. William Spaniel, Game Theory 101: The Complete Textbook, 2011 
URI:  https://mpra.ub.unimuenchen.de/id/eprint/61699 