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Introduction to game-theory calculations

Author

Listed:
  • Nicola Orsini

    (Karolinska Institutet)

  • Debora Rizzuto

    (University of Siena)

  • Nicola Nante

    (University of Siena)

Abstract

Game theory can be defined as the study of mathematical mod- els of conflict and cooperation between intelligent and rational decision makers (Myerson 1991). Game-theory concepts apply in economy, sociology, biology, and health care, and whenever the actions of several agents (individuals, groups, or any combination of these) are interdependent. We present a new command gamet to represent the extensive form (game tree) and the strategic form (payoff matrix) of a noncooperative game and to identify the solution of a nonzero and zero-sum game through dominant and dominated strategies, iterated elimination of domi- nated strategies, and Nash equilibrium in pure and fully mixed strategies. Further, gamet can identify the solution of a zero-sum game through maximin criterion and the solution of an extensive form game through backward induction. Copyright 2005 by StataCorp LP.

Suggested Citation

  • Nicola Orsini & Debora Rizzuto & Nicola Nante, 2005. "Introduction to game-theory calculations," Stata Journal, StataCorp LP, vol. 5(3), pages 355-370, September.
    • Handle: RePEc:tsj:stataj:v:5:y:2005:i:3:p:355-370
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