Static game theory models and their applications in management science

Abstract

In the present paper, we give a brief review of static game models and their applications in management science. Our intention here is twofold: On the one hand, we would like to provide the reader with an overview of game theory and its applications in management science. On the other hand, we intent to explore the mathematical tractability of management science problems when formulating them as game theory models. To make the paper not too extensive, we restrict our attention to static game theory models and five management science related areas. Our discussion starts by a general description of static game theory models and their solution schemes and follows by an investigation of game theory applications. At the end of the survey, we provide a brief description of some other approaches of game theory.