Applied Game Theory and Strategic Behavior

Useful Tools to Help Solve Decision Making Problems

Applied Game Theory and Strategic Behavior demonstrates the use of various game theory techniques to address practical business, economic, legal, and public policy issues. It also illustrates the benefits of employing strategic thinking that incorporates the uncertainty surrounding the behavior of other parties.

Real-world applications of game theory
Exploring a variety of games, the book outlines the process of modeling game theory questions while thinking strategically. It introduces core concepts through simple examples and case studies taken from the authors’ consulting work in the automotive, beer, wine, and spirits industries as well as in debates over government regulation. The authors include newly developed software applications that can construct and solve game theory models and present strategic options in clear, visual diagrams.

Out of the box and into the business world
Striking the right balance between necessary mathematics and practical applications, this book shows how game theory can be used in real life, not just in mathematical models. It helps readers improve their strategic thinking, define games based on actual situations, model games with payoffs and probabilities, and make strategically sound decisions.

A senior consultant at Anderson Economic Group, Ilhan Kubilay Geckil specializes in corporate finance, economics, business valuation, risk analysis, M&A, and strategic consulting. He provides economic forecasts for Bloomberg’s monthly economic survey. One of his recently published papers was honored as the Edmund A. Mennis Contributed Paper Award of the National Association for Business Economics. Mr. Geckil holds a Master’s in Economics from the Eli Broad Graduate School of Management at Michigan State University and a Bachelor’s in Economics from Koc University in Istanbul, Turkey.

Patrick L. Anderson is the founder and CEO of Anderson Economic Group. Prior to starting his company, Mr. Anderson served as the Chief of Staff for the Michigan Department of State and Deputy Budget Director under former Governor John Engler. A recognized authority on business valuation and commercial damages, Mr. Anderson has provided expert testimony, management, and strategic consulting. He is the executive editor of three edition of the State Economic Handbook and has written more than 100 published works, including the book Business Economics and Finance and a chapter in Litigation Economics. Mr. Anderson is a graduate of the University of Michigan, where he earned a Master’s of Public Policy and a B.A. in political science.