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An Introduction to Game Theory: Applications in Environmental Economics and Public Choice with Mathematical Appendix

Matt Bogard, Western Kentucky University

Abstract

Game Theory is a mathematical technique developed to study choice under conditions of strategic interaction (Zupan, 1998). In the sections that follow the concept of a game is defined. The Nash Equilibrium is introduced and several applications are given in the areas of agriculture and public choice. Other topics in game theory are introduced in the context of the work of Elinor Ostrom, including repeated games, grim trigger, and trembling hand trigger strategies. A mathematical appendix follows which introduces notation for games and motivation for the proof of the existence of the Nash Equilibrium.

Suggested Citation

Matt Bogard. 2012. "An Introduction to Game Theory: Applications in Environmental Economics and Public Choice with Mathematical Appendix" The SelectedWorks of Matt Bogard
Available at: http://works.bepress.com/matt_bogard/22