Game Theory

Featured

The study of mathematical models of conflict and cooperation between intelligent, rational decisionmakers, game theory is also known more descriptively as interactive decision theory. For more than seven decades, RAND researchers have used game theory to explore economics, political science, psychology, and conflict.

  • chess board

    Commercial Book

    A Primer on the Theory of Games of Strategy

    Dec 1, 1954

    This 1954 classic on basic concepts of game theory and its applications popularized the subject for amateurs, professionals, and students throughout the world.

  • People wait in line in a Disneyland parking lot to receive the COVID-19 vaccine at a mass vaccination site in Anaheim, California, January 13, 2021, photo by Mario Anzuoni/Reuters

    Commentary

    How Game Theory Could Solve the COVID-19 Vaccine Rollout Puzzle

    Mar 11, 2021

    The health systems behind the vaccine rollout are attempting to create order from chaos, sometimes with mixed results. Rather than relying on on-the-fly decisionmaking, state authorities should consider turning to game theory as a tool that could be the key to more efficient, faster vaccine distribution.

Explore Game Theory

  • Report

    Report

    Competitive Outcomes in the Cores of Market Games

    The competitive outcomes of an economic system are known always to lie in the core of the associated cooperative game. It is shown here that every market game can be represented by a direct market whose competitive outcomes completely fill the core.

    May 1, 1975

  • Report

    Report

    Competitive Outcomes in the Cores of Market Games

    A contribution to the study of abstract market games, building on the model first introduced in RM-5671.

    Dec 31, 1974

  • Report

    Report

    Noncooperative General Exchange

    A game theoretic approach to the problem of monopolistic competition in a general exchange economy, taking account of the effect on prices that individual traders can have through their buy and sell decisions.

    Sep 1, 1974

  • Report

    Report

    On Cores and Indivisibility

    This report offers an elementary introduction to [n]-person games, balanced sets, and the core, applying them to a simple but nontrivial trading model.

    Sep 1, 1973

  • Report

    Report

    The Petersburg Paradox -- A Con Game?

    A logical analysis of a 259-year-old paradox sometimes employed to attack the use of expected monetary values in decision theory or game theory.

    Oct 1, 1972

  • Report

    Report

    On Balanced Games Without Side Payments

    Presents a new proof of a basic theorem of game theory, due to Scarf, which states that every balanced game without side payments has a nonempty core.

    Sep 1, 1972

  • Report

    Report

    Let's Block "Block"

    Examination of the term "block" shows that it is counterintuitive and misleading when used in connection with the core and should be avoided or clarified whenever possible.

    Feb 1, 1972

  • Report

    Report

    The Assignment Game I: The Core

    The assignment game is a model for a two-sided market in which a product that comes in large, indivisible units is exchanged for money, and in which each participant either supplies or demands exactly one unit.

    Sep 30, 1971

  • Report

    Report

    Values of Non-Atomic Games, Part V: Monetary Economies

    The fifth study in a series concerned with the value of participation in a non-atomic game, a special kind of infinite-person game in which no individual player can significantly influence the outcome.

    Aug 1, 1971

  • Report

    Report

    The Kernel and Bargaining Set for Convex Games

    Proof that many solution concepts for convex games either coincide with the core or occupy a central position within the core. The proofs of these results are quite elaborate and require lemmas drawn from various topics of game theory.

    Jun 1, 1971

  • Report

    Report

    Cores of Convex Games

    In game theory, a convex game is one in which the incentives for joining a coalition increase as the coalition grows. This paper shows that the core of such a game is quite quite large and has an especially regular structure.

    Apr 1, 1971

  • Report

    Report

    On Gaming and Game Theory

    Defines some game theory terms and explores the relationship between game theory and gaming.

    Dec 31, 1970

  • Report

    Report

    A Theory of Money, Prices, and the Rate of Interest, Part II. Fiat Money and Noncooperative Equilibrium in a Closed Economy.

    Outline of an approach to a theory of fiat money that investigates the properties of a noncooperative trading game embedded in a closed economic system. A simple model is constructed to illustrate the use of fiat money in an economy with no uncertai...

    Dec 31, 1970

  • Report

    Report

    A Theory of Money, Prices and the Rate of Interest, Part I. The Missing Degree of Freedom: Commodity Money and Oligopoly in a General Equilibrium Model.

    It is suggested that an extra degree of freedom is needed to construct a symmetric noncooperative price game in a market with n monopolists trading in [n] goods. This calls for the introduction of an additional good which can be interpreted as a com...

    Dec 31, 1970

  • Report

    Report

    Game Theory and Politics: Recent Soviet Views

    Reports research done in 1967 and 1968 on Soviet attempts to apply game theory to international politics.

    Dec 31, 1969

  • Report

    Report

    Probabilistic Forecasts and Reproducing Scoring Systems

    Discusses ways to exploit in probabilistic terms the judgment of experts on political, economic, or military problems — frequently the best information available.

    Dec 31, 1969

  • Report

    Report

    Optimal Incentive Contracting : A Constrained Game Theory Model.

    Several versions of the negotiation of the parameters of incentive contracts between a government and private contractors are formulated as game theoretical models. This framework permits one focus upon a number of aspects that have previously been ...

    Dec 31, 1969

  • Report

    Report

    On the Core of an Economic System with Externalities

    In this Memorandum the authors discuss a topic in basic economic theory, using some methods from the theory of multiperson games.

    Apr 1, 1969

  • Report

    Report

    On Market Games

    In this study, the "market games" -- games that derive from an exchange economy in which the traders have continuous concave monetary utility functions -- are shown to be the same as the "totally balanced games" -- games which, with all their subgames, possess cores.

    Dec 1, 1968

  • Report

    Report

    A Two Party System, General Equilibrium, and the Voters' Paradox.

    An application of the techniques of mathematical modeling and game theory to an investigation of the voting process and its function in the political economy of a democracy with competitive markets. The investigation is limited to the study of a two...

    Dec 31, 1967