Abstract from the year 2017 in the subject Business economics -
Investment and Finance, language: English, abstract: From the popular
series "Numb3rs" you may know the term "Game Theory", but do you
actually know what this is and how it works? During a six-week session
of microeconomics, several basic principles are introduced and applied
in the business context. Game Theory deals with the optimal behavior of
rational decision makers in a simplified surrounding. This text deals
with the optimal behavior during a second price action and within
oligopolistic competition. The basic ideas like the prisoner's dilemma
are explained and underlined with real examples to simplify and
illustrate the dry mathematics behind it. After reading this text, you
will be able to solve certain problems in a simplified surrounding by
your own and will perceive the world at least a little bit more
rational.