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  • Game theory is a mathematical discipline that studies the choice strategies by interacting rational participants. The basis of the game theory analysis is to determine which strategy is the best response to the strategies chosen by the other participants. Game theory is a scientific metaphor, it's not only about finding a strategy in mere games but also in other areas of human activity, particularly in economics and defence, and in transport, agriculture ect. There are many variants of game theory: a game with two or more participants, with zero or non-zero sum, with perfect or imperfect information, with dominant strategy equilibrium or Nash equilibrium. In some games, one participant always wins and the other loses, in another ones both of them can get. The paper aims at the game theory application in international relations, the possibility of applying the above-mentioned groups of games in trade policy and international economics is analyzed, emphasizing the group of the Least Developed Countries that are unable to reap the benefits of international trade due to inadequate knowledge of trade issues. The method of game tree and matrix are used in this analysis.
  • Game theory is a mathematical discipline that studies the choice strategies by interacting rational participants. The basis of the game theory analysis is to determine which strategy is the best response to the strategies chosen by the other participants. Game theory is a scientific metaphor, it's not only about finding a strategy in mere games but also in other areas of human activity, particularly in economics and defence, and in transport, agriculture ect. There are many variants of game theory: a game with two or more participants, with zero or non-zero sum, with perfect or imperfect information, with dominant strategy equilibrium or Nash equilibrium. In some games, one participant always wins and the other loses, in another ones both of them can get. The paper aims at the game theory application in international relations, the possibility of applying the above-mentioned groups of games in trade policy and international economics is analyzed, emphasizing the group of the Least Developed Countries that are unable to reap the benefits of international trade due to inadequate knowledge of trade issues. The method of game tree and matrix are used in this analysis. (en)
Title
  • The Economic Application of Game Theory on the Case of Least Development Countries (LDCs)
  • The Economic Application of Game Theory on the Case of Least Development Countries (LDCs) (en)
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  • The Economic Application of Game Theory on the Case of Least Development Countries (LDCs)
  • The Economic Application of Game Theory on the Case of Least Development Countries (LDCs) (en)
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  • RIV/47813059:19520/11:#0001847!RIV13-MSM-19520___
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  • 195980
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  • RIV/47813059:19520/11:#0001847
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  • game theory, Least Developed Countries, international trade, game three, matrix (en)
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  • [D020A99C4845]
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  • Jánksá Dolina, SR
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  • Praha
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  • PROCEEDINGS OF THE 29TH INTERNATIONAL CONFERENCE ON MATHEMATICAL METHODS IN ECONOMICS 2011, PTS I AND II
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  • Majerová, Ingrid
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  • 000309074600075
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  • PROFESSIONAL PUBLISHING
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  • 978-80-7431-058-4
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  • 19520
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