The voting procedures used to elect candidates in large part determine whether elections are considered fair. The chapter focuses on the strategies that voters employ to try to effect better outcomes as long as they are allowed by the rules of a voting procedure. Voting procedures not only...

This chapter discusses the game theory models of peace and war. Game theory's relevance to peace and war was controversial from the start. The debate has continued up to the present day, but it has been conducted mostly in the abstract, with critics trying to prove a priori that game theory is...

The subject matter of evolutionary game theory is the analysis of conflict and cooperation in animals and plants. Originally, game theory was developed as a theory of human strategic behavior based on an idealized picture of rational decision making. Evolutionary game theory does not rely on...

Search theory has provided a simple and robust laboratory that economic theorists have used to examine a wide variety of questions about the acquisition of information. Early work on search modeled an individual's searching decisions and drew inferences about the value of information and the...

This chapter discusses moral hazard. The principalagent relationship embodies a special form of moral hazard, which can be called one-sided, but moral hazard can also be many-sided. The paradigmatic model of many-sided moral hazard is the partnership in which there are many agents but no...

This chapter presents some of the main developments in the theory of market signaling and its connection to noncooperative game theory. One of the most important applications of game theory to micro-economics has been in the domain of market signaling. The standard story is a simple one: for...

In principle, anything that a player can do to communicate and coordinate with other players could be described by moves in an extensive-form game, so that planning these communication moves would become part of the player's strategy choice itself. Adding a communication system does not...

This chapter discusses the differential games economic applications. Much of the application of N-person, general-sum differential games is in economics, where observed regularities are rarely invariant as in natural sciences. Thus, expenditure patterns in America offer little insights upon the...

This chapter discusses differential games. In control theory, a certain evolutionary process (typically given by a time-dependent system of differential equations) depends on a control variable. A certain cost is associated with the control variable and with the corresponding evolutionary...

Game theory, in particular the theory of two-person zero-sum games, has played a multiple role in statistics. Its principal role has been to provide a unifying framework for the various branches of statistical inference. Statistics, regarded from the game-theoretic point of view, became known as...