Economics A-Level
Game theory
What Game theory means in Economics A-Level, as defined for AQA.
Definitions of Game theory
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Reference: AQA
An alternative model of oligopoly, alongside price leadership and collusive oligopoly, offering a different explanation for firm behaviour.
Used to analyse strategic decision-making, with matrices such as the prisoner's dilemma demonstrating interdependence and uncertainty.
An approach, such as the prisoner's dilemma, used to explain why joint profit maximisation is difficult to sustain in the long run.
Topics that use Game theory
- Oligopoly (AQA A-Level)
Related terms
- Barriers to entry
- Cartel
- Cartels
- Collusion
- Concentration ratio
- Concentration ratios
- Cooperation
- Dynamic efficiency
Using Game theory in the exam
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