• DocumentCode
    119949
  • Title

    The application of the game theory on microeconomic problems illustrations

  • Author

    Sagi, Andras ; Pataki, Eva

  • Author_Institution
    Fac. of Econ., Novi Sad Univ., Subotica, Serbia
  • fYear
    2014
  • fDate
    11-13 Sept. 2014
  • Firstpage
    193
  • Lastpage
    196
  • Abstract
    In this work the authors present and analyze some possibilities of applying the game theory to solve economic problems, primarily microeconomic ones. The first example to illustrate the applications of the game theory gives the solution of alternatives of two companies for computer production in strategic decision-making for using the joint operative system. Alternative possibilities of companies´ decision-making and repercussions of their decisions on companies´ profit have been considered in the variant both of imperfect and perfect information of companies (players). In the second part of the work, authors analyze possibilities to attain the Nash equilibrium, according to the minimax criterion on the well-known example of the so-called prisoner´s dilemma. At the end, by the application of the game theory, an answer is looked for the question why the people do not pay tax voluntarily; the authors also consider the duopolist´s dilemma on decision-making about to give up cartels.
  • Keywords
    DP industry; decision making; game theory; microeconomics; minimax techniques; oligopoly; Nash equilibrium; company profit; computer production companies; decisions repercussions; duopolist dilemma; game theory; imperfect information; joint operative system; microeconomic problems; minimax criterion; perfect information; prisoner dilemma; strategic decision-making; tax; Companies; Computers; Games; Microeconomics; Nash equilibrium; Nash equilibrium; diagram of the game branches; game theory; minimax criterion; prisoner” dilemma;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Intelligent Systems and Informatics (SISY), 2014 IEEE 12th International Symposium on
  • Conference_Location
    Subotica
  • Type

    conf

  • DOI
    10.1109/SISY.2014.6923584
  • Filename
    6923584