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Industrial Relations and Game Theory, 2007.
This paper applies game theory (GT) to industrial relations, especially in the area of collective bargaining.
1,770 words (approx. 7.1 pages), 12 sources, APA, $ 57.95
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Abstract
This paper explains that industrial relations within the context of the British economy and the character of its workforce have long been dominated by the power and presence of its unions. The author points out that, because of the stakes involved in the collective bargaining negotiations, game theory (GT) and coalition theory, which is a subset of GT, is relied upon to achieve fractional improvements in contract negotiations. The paper relates that game theory (GT) is most often associated with a zero-sum scenario; however, it also encompasses positive-sum and negative-sum scenarios where a party may gain or win without the necessity of an equivalent loser. The author relates that, because of the necessity to form alliances in order to reach consensus among diverse stakeholders, industrial relations often employ a type of GT known as coalition theory,which examines the nature, reasons and underlying dynamics of these coalitions that form in all the various settings. The paper includes graphs.
Table of Contents
Introduction
Game Theory
Industrial Relations and Game Theory
Conclusion
From the Paper
"Of particular value has been research integrating sender-receiver frameworks that analyze how knowledge is transferred, both symmetrically and asymmetrically, with GT whereby advantages gained through asymmetrical knowledge transfer creates zero-sum advantages for one player or the other in an industrial relations setting such as the collective bargaining platform. This concept is explained in terms of being a signal that one side uses to inform the other of a possible solution, such as concessions that can be made on benefits."
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The Game Theory, 2006.
A comprehensive look at game theory, a separate and interdisciplinary approach to the study of human behavior.
1,915 words (approx. 7.7 pages), 7 sources, MLA, $ 61.95
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Abstract
This paper takes a look at the game theory, founded by mathematician John von Neumann, and the mathematics, social and behavioral sciences that are involved. This paper also reviews the definition of a game and the fundamental decision theory, a crucial factor pertaining to the game theory.
From the Paper
"A game refers to a strategic situation that involves at least two rational and intelligent individuals called players. The fundamental result of decision theory, which forms the foundation of game theory as well, is that each player's goal is to maximize the expected value of his or her own payoff. These payoffs are measured on some utility scale, which is merely a numeric depiction of each outcome that can be gained through the player's actions. Individuals have preferences that give them the opportunity to rank the outcomes with respect to one other. For each pair of outcomes, a player can say whether he or she likes one better than the other or whether he or she is indifferent about the two.
The logical roots for game theory are in Bayesian decision theory. In fact, game theory can be seen as an extension of the decision theory (Myerson, 1991, p.5). In general, a decision theory is an interdisciplinary area of study for practitioners in mathematics, statistics, economics, philosophy, management and psychology. "
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Game Theory-The New Marxism, 2006.
An analysis of Marxist economics with regards to foreign relations and how this perspective compares to modern game theory.
2,700 words (approx. 10.8 pages), 7 sources, $ 106.95
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Abstract
This paper analyzes Marxist economics from the perspective of foreign relations and how foreign relations is conducted based on the benefits that one nation can receive in relations at the expense of other nations. This Marxist perspective is compared to modern game theory and its sub-component, coalition theory in that game theory's basic assumption of zero-sum outcomes is a Marxist interpretation of capitalism in acceptable guise.
From the Paper
"Marxist economics has suffered in stature chiefly due to its being co-opted by the various communist political regimes that relied on its basic assumption upon which to construct their derivative economic models; most commonly of which was the Soviet economic model with its central planning and misconstrued allocation of resources (Wood, 2004). However, Marxist economics were never fully understood by these communist regimes and certainly not faithfully applied. At its core, Marxist economics accurately reflects the innate shortcomings of free market capitalism and the political structure that arise from them. One of the key differences that Marxist economics points out between itself and that of capitalist economics is the valuation of labor or the labor theory of value (Wood, 2004, pp.136-39)."
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The Game Theory Economic Model, 2006.
A review of the game theory and its applications in the post-war period.
1,350 words (approx. 5.4 pages), 4 sources, $ 53.95
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Abstract
This paper reviews the historical development of game theory, as found in the work of Neumann, Nash, and others. This paper shows how the basic outlines of game theory are drawn to show how it developed as a theory for decision making. The paper then suggests the historical events driving the mathematicians who developed the theory, as a means of showing how world events were responded to in the work of these men.
From the Paper
"In the mid-Twentieth Century, as the world was preparing for, involved in, and coming out of World War II, a number of mathematicians came to hold great importance for their development of an economics model called game theory in which rational (and irrational) actors are pitted against each other in theoretical constructs to determine the choices available to persons living in the world. The most important among this group were John von Neumann and Oscar Morgenstern, who virtually invented the concept of game theory in their book Theory of Games and Economic Behavior, and John Nash, who greatly expanded upon the concepts of game theory to include complex games with multiple players. The applications of game theory were many, but perhaps the most important were found in the struggle of military powers around geopolitical matters."
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Game Theory and Foreign Policy, 2003.
Examines the importance of game theory in analyzing foreign policy decision-making and outcomes and its compatibility with other foreign policy models and systems.
2,869 words (approx. 11.5 pages), 7 sources, APA, $ 85.95
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Abstract
Game theory is the use of mathematical models to predict the outcome of a dispute or interaction between two or more independent actors. It has been applied in a wide range of contexts, including gambling, business and international relations. This essay examines the importance of game theory when analysing the foreign policy decision-making process. It argues that while simple games such as the Prisoner's Dilemma may not illuminate the process on their own, more complex models can offer a systemic device by which foreign policy can be analyzed more accurately.
From the Paper
"Perhaps the most widely recognised game is the Prisoner's Dilemma, which examines the choices faced by two people arrested for the same crime, and observes the likelihood that they would both accuse the other one, and thus both go to jail. When used in foreign policy analysis, it is often used to describe the nature of arms races, or the possibility of nuclear fallout. This is a non-zero-sum game, a game where it is possible for both players to lose, or to win (as opposed to a zero-sum game, where one actor's gain is always equal to another actor's loss)."
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Game Theory Applied to Corporate Finance, 2002.
How applications of game theory can be used to explain various observed phenomena in corporate finance.
1,955 words (approx. 7.8 pages), 7 sources, MLA, $ 62.95
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Abstract
This paper explains that traditional financial thinking relies on assumptions of certainty, complete knowledge and market efficiency and in this context, financial decisions should be relatively straightforward. In the real world though, many times what is observed deviates greatly from what would be expected using traditional financial thinking. This paper therefore uses different game theory models to more accurately explain observed financial decisions dealing with capital structure, corporate acquisitions and initial public offerings (IPOs).
From the Paper
"Game theory has made great strides in explaining many of the observed phenomena falling under corporate finance. One example is the capital structure decided upon by a firm's management. Capital structure deals with the firm's decision to raise funds through debt versus equity and what ratio of debt to equity should the firm maintain. Modigliani and Miller in 1958 showed that in perfect capital markets (i.e. no frictions and symmetric information) and no taxes a firm could not change its total value by altering its debt/equity ratio; thus capital structure is irrelevant. However in the real world, capital structure is carefully thought about by every company, and it is in fact not irrelevant because taxes do exist and capital markets are not perfect."
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Games Theory and Error, 2002.
A look at games theories.
2,400 words (approx. 9.6 pages), 5 sources, $ 89.95
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Abstract
This paper examines games theory. Specifically, it focuses on error in non-zero sum games epitomized by Nash's 'prisoner's dilemma'. It outlines the rudiments of non-zero sum games, demonstrates the impact of error and considers ways of reducing it.
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Airline Competition & Game Theory, 1999.
Applies game theory to airlines' fare-setting. Description of economic & mathematical theory, modeling & strategies, yield management, zero-sum.
2,925 words (approx. 11.7 pages), 11 sources, $ 103.95
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From the Paper
"ABSTRACT
One research question was addressed in this study. That question is as follows: ?Can the competitive behavior of air transportation companies in the United States market in relation to setting fares be explained as an application of game theory??
Game theory, as applied in the airfare wars. forecasts how competitors will respond when confronted with certain competitive situations. When formulating business strategy, no company can afford to ignore how competitors will behave. Game theory is based on the premise that in any competitive situation there are factors at work which lend themselves to mathematical representation and analysis. In turn, these representations and analyses will help explain how a result will occur.
The findings of this research indicate that the airfares competition gives the appear.."
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Micro-economics Game Theory, 2005.
Examines how the analysis of strategic behavior in oligopoly theory is performed by economists.
1,522 words (approx. 6.1 pages), 4 sources, MLA, $ 50.95
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Abstract
Economists analyze strategic behavior in oligopoly theory by the use of a spectrum of models ranging from the static to the currently more popular and most recent game--theoretical models. This paper shows, however, that it's important to distinguish models or strategic behavior from traditional static models of oligopoly. Moreover, it becomes useful to present a number of strategic game theory models and particularly those incorporating strategic commitment to gain an appreciation for precisely how economists analyze strategic behavior.
Paper Outline:
Thesis Statement
A Brief Historic Overview
The Courtnet Framework
The Stackelberg Model'
Game Theory - Pros and Cons
Irrevocable Commitment
Asymmetric Information
Bibliography
From the Paper
"Game theory has generated a great deal of interest in oligopoly although it has not risen to prominence without controversy. Its detractors argue that game theory has made little contribution to our understanding of oligopoly behavior and it has been likened to the study of Latin. Quoting Fisher, "Latin, like game theory might not be interesting for its own sake but that studying it helps to systematize the way one thinks about language." Fisher also accuses theorists of dealing with every problem in game-theoretic terms including problems that are easier to deal with in other forms."
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Incorporating Fairness into Game Theory and Economics, 2002.
A referee report on Matthew Rabin's intention driven model of fairness.
2,340 words (approx. 9.4 pages), 6 sources, APA, $ 71.95
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Abstract
Matthew Rabin?s model of fairness is based on Geanakoplos, Pearce and Stacchetti's (1989) notion of ?psychological game?, in which payoffs depend on actions and on beliefs about actions. The paper describes how Rabin?s model shows how fairness expectations lead to different results than standard theory and demonstrates some general implications of fairness on game theory and economics. This paper contains a short description of Rabin?s model, gives some examples, propositions, proofs and critique.
From the Paper
"Suppose that (a1,a2) is a mutual-max outcome. Then both f1 and f2 must be nonnegative, thus reflect a positive regard for each other.
If each player chooses a strategy which maximizes both his own material well-being and the well-being of the other player this must maximize his own utility. In a case of mutual min outcome the f1 and f2 is non positive, thus, f~j(bj,ci)[1+fi(a1,bj)] is non negative. If each player is choosing a strategy which maximizes his own material well-being , this must maximize his utility."
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"Inside Game/Outside Game", 2005.
A review of David Rusk's book, "Inside Game / Outside Game: Winning Strategies for Saving Urban America".
1,481 words (approx. 5.9 pages), 2 sources, MLA, $ 48.95
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Abstract
This paper looks at how Rusk's book is an insightful and well-researched addition to the current understanding of urban management and public administration. The writer explains that Rusk argues convincingly that improvement in inner city neighborhoods can only come from a coordinated effort that includes regional approaches to reducing suburban growth, the concentration of poverty, and financial differences.
From the Paper
"In Inside Game / Outside Game, Rusk argues for reform of metropolitan regions based on the interrelationship between urban management and management of other, outside concerns, like taxation, suburban growth, and housing practices. Rusk argues that revitalization of neighborhoods, affordable housing, preservation of open space and fiscal policy reform are closely related. As such, changes in factors like taxation or housing practices can have a profound effect in urban neighborhoods."
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"Full Metal Jacket", 2002.
Uses the Game Theory to analyze the film, "Full Metal Jacket" by Stanley Kubrick.
1,650 words (approx. 6.6 pages), 4 sources, $ 62.95
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Abstract
This paper provides an analysis of Stanley Kubrick's film, "Full Metal Jacket," and discusses how this film can be understood with relation to the Game Theory. The paper analyzes three characters from the film and considers how their choices in the film illustrate the viability of game theory. Game theory is described here as a mathematical formula that asseses outcomes of situations based on people's choices and the author of this paper sees Kubrick's film as an example of how outcomes are effected by particular choices.
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The Cultivation Theory, 2008.
This paper explores whether the cultivation theory can be used in a socially beneficial way.
6,322 words (approx. 25.3 pages), 28 sources, APA, $ 147.95
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Abstract
This paper explains the cultivation theory that if a person plays too many games with acts of violence in them, he will be more prone to committing violent acts. The paper relates that much of the publicity surrounding this theory focuses on the negative aspects of the media. The paper then explores how the cultivation theory can be used to produce positive effects and examines how role models can be portrayed in a positive manner to bring about societal change for the better.
Outline:
Part I: Understanding Cultivation Theory
Part II: Massive Multi-Player Online Games and Cultivation Theory
From the Paper
"Television plays an integral role in US society, perhaps more so than in other countries. To understand the significant role that television plays, one must first take a step back in time, to the days before almost every household in America owned a television. Before television, people told each other stories. Grandparents told stories to children and neighbors told stories about the happenings of the world to each other. Information was passed by word of mouth. Long before television, there was the written word, such as newspapers, and later radio. However, not everyone had access to them. Not everyone could read, particularly in rural areas. Those who had access to newspapers and radio passed on the stories to others through word of mouth."
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"Dances With Wolves" and the Social Penetration Theory, 2005.
This paper uses the social penetration theory to analyze "Dances With Wolves", the novel written by Michael Blake and the film directed by Kevin Costner.
1,540 words (approx. 6.2 pages), 6 sources, MLA, $ 50.95
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Abstract
This paper explains that Irwin Altman and Dalmas Taylor's social penetration theory suggests as relationships grow deeper as self-disclosure deepens and uses social exchange theory, also called the game theory, to analyze the cost-reward balance of these self-disclosures. The author points out that "Dancing With Wolves" provides excellent examples of how totally different cultures can both attract and repel one another, how friendships and trust are formed by deeds not just words and how different intersecting strata of social and cultural lives either repel or attract one another. The paper relates that it teaches that the differences among people tend to be created without truly being aware of one another and can be resolved as those "onion skin" layers are removed revealing our true inner personalities.
From the Paper
"There are many examples of initial encounters in "Dances With Wolves", and the manner of the meeting does not always provide the result of closeness, of course. What makes the novel so fascinating is the contact, verbal and non-verbal that links the white man with the Comanche, and prepares him for a life he had never known or understood before. Was it simply loneliness or necessity that brought these encounters to fruition? Is social penetration merely a theory that evolves as social circumstances change? Are we different, socially, today, than were the people in the post-Civil War era covered by this novel?"
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International Trade Theory, 2007.
This paper explains international trade theory and uses this theory to justify the opening of a business overseas.
919 words (approx. 3.7 pages), 4 sources, MLA, $ 32.95
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Abstract
In this article the writer explains that the decision has been made to open a business in India. The writer points out that the business would be exporting video games to the general public residing there. In order to justify such a decision this report uses the international trade theory which is explained in this paper. The writer maintains that with a majority of the components from the international trade theory having been studied and applied to this situation, the proposal is purported to be a viable option for the company. The writer concludes that the company would benefit from establishing a business in a foreign country and the foreign country would benefit from having additional services and products available for its citizens.
From the Paper
"Reform of the international financial system was really not a major factor in this study since it has already been reformed in previous years. To reform the system again in order to facilitate a common financial foundation between the two countries does not make a lot of sense at this particular time."
"Other relevant factors in this decision are whether the costs of doing business in India is similar to the current costs of doing business elsewhere, and they seem to be very similar. The expense factors in India are actually much lower than other developed countries in the world, although they are slowly but surely catching up. With these factors taken into consideration there seems to be a fairly certain probability that the business will be successful and that the company will benefit from opening and initiating business in India."
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