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Peer reviewedMurphy, Tom; Edwards, Vic – Economics, 1981
Discusses the use of game theory to teach introductory college microeconomics. The authors demonstrate its applicability for illustrating traditional economic models and for generating new models in areas where current theory is lacking. An appendix includes simulation-gaming exercises to demonstrate the characteristic dynamics of imperfect…
Descriptors: Economics Education, Game Theory, Higher Education, Introductory Courses
Peer reviewedMerz, Thomas E. – Journal of Economic Education, 1996
Uses the various strategies involved in baseball to illustrate basic concepts in game theory. Specifically discusses Willie Mays' base-stealing strategy and how it relates to probability and risk. Reminds students that expected results depend on adopted assumptions. (MJP)
Descriptors: Baseball, Decision Making, Economics Education, Game Theory
