Game Theoretic Approach To Selected Contracts
Arman Özdemir
ISBN: 9786257042499
This work aims to build a relation between contract law and game theory. Instead of classical approach, which generally deals with tort law, philosophy of law and sometimes constitutional law and application of game theory, this book is about game theoretic understanding of contracts. Contracts are legally binding agreements. Binding means if a party to a contract breaches it, third party involvement may take place to solve the dispute in vvhich payoffs of parties may decrease substantially. Throughout this work we also adopt a basic assumption that players are rational. And like any rational unit they try to maximize their profıt.
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