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game theory |
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game theory a branch of mathematical logic which deals with all of the possible reactions to a particular strategy used mainly in systems analysis. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| So there's a game-theoretic aspect to the practice. Taking a game-theoretic approach, we will demonstrate in repeated games, interfirm guanxi helps firms to break Prisoners' Dilemma, facilitate intermediate economic exchanges, and eventually, save on transaction costs. As was discussed above, to develop any game-theoretic model, one first needs a measure of utility, a means by which one can express the decision-maker's preferences. |
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