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A Game Theoretic Explanation of Economic Growth

Applied Economics and Finance

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Title A Game Theoretic Explanation of Economic Growth
 
Creator Sakir, Salman
 
Description 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.
 
Publisher Redfame Publishing
 
Date 2015-11-09
 
Type info:eu-repo/semantics/article
Peer-reviewed Article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
 
Identifier http://redfame.com/journal/index.php/aef/article/view/1194
10.11114/aef.v3i1.1194
 
Source Applied Economics and Finance; Vol 3, No 1 (2016); 15-22
 
Language eng
 
Relation http://redfame.com/journal/index.php/aef/article/view/1194/1299
 
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