Game Theory in Economics
Chapter 2, Decisionmakers
ResearchPublished 1972
Discussion of the concepts of "player" and "coalition" in game theory, with special reference to economic applications. Two examples, a "duel" and a "truel," are analyzed in some detail in order to reveal the sharp change in viewpoint required in passing from an inessential two-person game to an essential three-person game. Techniques for increasing the number of players in a model by replication or fragmentation (disaggregation) are described, and the literature on infinite-person games is briefly surveyed. Finally, some of the modeling problems associated with representative types of economic "player" are considered from a practical standpoint.
Document Details
- Copyright: RAND Corporation
- Availability: Web Only
- Year: 1972
- Pages: 43
- Document Number: R-904/2-NSF
Citation
RAND Style Manual
Shapley, Lloyd S. and Martin Shubik, Game Theory in Economics: Chapter 2, Decisionmakers, RAND Corporation, R-904/2-NSF, 1972. As of September 7, 2026: https://www.rand.org/pubs/reports/R0904z2.html
Chicago Manual of Style
Shapley, Lloyd S. and Martin Shubik, Game Theory in Economics: Chapter 2, Decisionmakers. Santa Monica, CA: RAND Corporation, 1972. https://www.rand.org/pubs/reports/R0904z2.html.
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