Economic Applications of Game Theory

Dozens of children sit lined up at tables playing games of chess.

A children's chess tournament in Minnesota in 2009. The principles of game theory can be applied to chess, as well as, other real-world problems in the fields of economics, biology, and warfare. (Image courtesy of ninahale.)


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Fall 2012



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Game Theory, also known as Multiperson Decision Theory, is the analysis of situations in which the payoff of a decision maker depends not only on his own actions but also on those of others. Game Theory has applications in several fields, such as economics, politics, law, biology, and computer science. In this course, I will introduce the basic tools of game theoretic analysis. In the process, I will outline some of the many applications of Game Theory, primarily in economics.

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Muhamet Yildiz. 14.12 Economic Applications of Game Theory. Fall 2012. Massachusetts Institute of Technology: MIT OpenCourseWare, License: Creative Commons BY-NC-SA.

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