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A Game Theoretic Explanation of Economic Growth

Author

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  • Salman Sakir

Abstract

This paper uses game theory to explain economic growth. It explores a possible reason outside the purview of conventional explanations of economic growth. The paper does not consider natural resources, human capital or capital endowment of a country in determining it being rich or poor. Alternatively, it uses game theory to capture the inconspicuous features of a society that may lead to it being prosperous or not. It shows that cooperative games among the citizens lead a poor country to become rich over time while non-cooperative games can make a developed country become poor over time. Also, the paper provides real life explanations supporting this notion. Finally, the paper explores possible reasons for societies choosing cooperative and non-cooperative games.

Suggested Citation

  • Salman Sakir, 2016. "A Game Theoretic Explanation of Economic Growth," Applied Economics and Finance, Redfame publishing, vol. 3(1), pages 15-22, February.
    • Handle: RePEc:rfa:aefjnl:v:3:y:2016:i:1:p:15-22
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    More about this item

    Keywords

    Game Theory; Cooperative Games; Non-cooperative games; Repeated games; Economic Growth;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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