Game Theory, Microeconomics
Types of Game Theory Cooperative Game : It is an economic game played by firms in which players or firms can negotiate on binding contracts which allows them to make mixed or joint strategies. Example: Ahmed and Ali are buyer and seller respectively and they are...
Game Theory, Microeconomics
To understand the game theory , one must be familiar with the exact definition of word “Game” . The word game means “ Any physical or mental activity that humans do for the sake of pleasure or simply the competition between two players”. So,...
