Unpublished Paper
The Rules of a Game
core theory applications
(2016)
Abstract
Some applications of game theory permit cooperation among players. However, in these cases a player may gain more by cheating a partner than by sticking to their agreement. This essay describes three situations to show how they discourage cheating; the prisoners’ dilemma, voting in a legislature and principal-agent problems among manufacturers, retailers and their customers.
JEL C70 Game Theory, General
Keywords
- prisoners' dilemma,
- majority voting,
- resale price maintenance
Disciplines
Publication Date
March, 2016
Citation Information
Lester G Telser. "The Rules of a Game" core theory applications (2016) Available at: http://works.bepress.com/lester_telser/65/