This module delves into strategies and equilibrium within extensive games. Students will learn how to formulate strategies considering the sequential nature of decisions and the implications for outcomes in extensive settings.
This module introduces the basic definition of game theory and its relevance in understanding decision-making processes. Students will learn about the theory of rational choice and how it applies to interactive situations. The module sets the stage for deeper exploration into strategic scenarios.
This module focuses on the dynamics of interacting decision-makers in strategic environments. Understanding how agents make decisions when their outcomes depend on the choices of others is crucial. Students will explore various examples to illustrate these concepts, laying the groundwork for analyzing strategic games.
This module presents examples of strategic games, delving into the underlying principles and mechanics. Students will engage with a variety of strategic scenarios to understand how different strategies lead to different outcomes. The exploration of Nash equilibrium will be central to this discussion.
This module examines classic games such as Matching Pennies and Stag Hunt, introducing the concept of Nash equilibrium through practical examples. Students will analyze the outcomes of these games and understand the implications of rational decision-making in competitive situations.
In this module, students will explore various examples that illustrate the concept of Nash equilibrium. By analyzing these scenarios, they will gain insights into how players can reach a stable state in their strategic interactions, shedding light on equilibrium in real-world contexts.
This module will delve into the concepts of altruism and the Prisoner's Dilemma. Students will understand how cooperation and betrayal can affect outcomes in strategic settings. Real-life implications of these concepts will be discussed, providing a comprehensive view of human behavior in competitive scenarios.
This module explores variants of the Stag Hunt game, alongside the Hawk-Dove and Coordination Games. By understanding these variations, students will learn how different strategies can lead to different equilibria, enhancing their grasp of strategic interactions in diverse scenarios.
This module discusses public good provision and the concept of Strict Nash Equilibrium. Students will analyze situations where individuals must decide on contributing to public goods, highlighting the challenges and strategies involved in achieving equilibrium in these contexts.
In this module, students will learn about best response functions, which are crucial in determining strategic moves in games. By understanding how players can optimize their strategies in response to others, students will deepen their analytical skills in strategic decision-making.
This module explores the concepts of strictly and weakly dominated actions. Through various examples, students will understand how to identify these actions and their implications in strategic decision-making, thereby enhancing their strategic analysis capabilities.
This module applies the concept of weak domination to voting scenarios. Students will analyze how dominated strategies can affect voting behavior and outcomes, providing a practical understanding of game theory in political contexts.
This module introduces symmetric games and symmetric equilibria, discussing how these concepts operate in strategic environments. Through various examples, students will gain insights into how players can achieve equilibrium in symmetric contexts.
This module presents the Cournot model of oligopoly, detailing how firms compete on quantity. Students will learn about the strategic interactions between firms and how they determine equilibrium outcomes in a duopoly setting.
This module explores different aspects of the Cournot model, including variations in market conditions and firm strategies. Students will analyze how these factors impact competition and equilibrium, enhancing their understanding of real-world oligopolies.
This module covers further aspects of the Cournot model, focusing on equilibrium analysis and strategic behavior of firms. Students will engage with case studies to understand the practical implications of these theoretical concepts in real-world markets.
This module compares the Cournot and Bertrand models, highlighting their differences in competition strategiesâquantity vs. price. Students will analyze the implications of each model for market outcomes and firm strategies in duopolies.
This module discusses different aspects of the Bertrand model, focusing on how firms compete on price. Students will learn about price strategies and their effects on market dynamics, reinforcing their understanding of competitive behavior.
This module analyzes different aspects of the Hotelling model, which focuses on spatial competition among firms. Students will learn how location and differentiation impact competition and consumer choice in markets.
This module provides concluding remarks on the Hotelling model, summarizing key insights and implications for understanding competition in spatial markets. Students will reflect on the lessons learned throughout the module.
This module delves into the concept of the War of Attrition, exploring how parties compete over time in strategic situations. Students will analyze the dynamics of prolonged competition and the strategies that can emerge in such contexts.
This module covers the Second Price Sealed Bid auction, detailing how participants strategize under this auction format. Students will learn about bidding behavior and the implications for auction outcomes.
This module explores further aspects of the Second Price auction, providing insights into strategic bidding and the role of information. Students will analyze case studies to understand the practical implications of auction theory.
This module introduces the First Price auction, focusing on the strategies employed by bidders in this auction format. Students will engage with examples to understand how bidding behavior differs from other auction types.
This module discusses All Pay auctions and multi-unit auctions, analyzing the unique strategies required in these auction formats. Students will learn about the implications of these auctions on bidder behavior and market outcomes.
This module examines accident laws and the role of game theory in understanding legal frameworks. Students will analyze how strategic interactions inform policy and legal decisions, providing a unique perspective on the intersection of law and economics.
This module introduces mixed strategy Nash equilibrium, explaining its significance in game theory. Students will learn how randomness can play a role in strategic decision-making and how to analyze mixed strategies within various contexts.
This module explores mixed strategies and their equilibrium concepts. Students will engage with various examples to understand how mixed strategies can be characterized and the conditions under which they arise in competitive environments.
This module presents the mixed strategy equilibrium, detailing its concept and providing real-world examples. Students will learn how to identify and analyze mixed strategy equilibriums in various strategic scenarios.
This module characterizes mixed strategy equilibrium, discussing the conditions required for its existence. Students will analyze implications for strategic behavior in competitive environments, enhancing their understanding of game theory applications.
This module focuses on dominated actions and the process of iterated elimination. Students will learn how to identify dominated strategies and their impact on decision-making in various game scenarios, reinforcing their strategic analysis skills.
This module examines rationality and beliefs, exploring how players form beliefs about competitors' strategies. Students will analyze the role of beliefs in strategic decision-making and the implications for outcomes in various game scenarios.
This module introduces extensive games, discussing their structure and the strategies involved. Students will learn about the importance of sequential decision-making and how it differs from strategic games, providing a foundation for understanding complex interactions.
This module delves into strategies and equilibrium within extensive games. Students will learn how to formulate strategies considering the sequential nature of decisions and the implications for outcomes in extensive settings.
This module examines Nash equilibrium and its challenges in the context of extensive games. Through various examples, students will understand how Nash equilibrium operates in sequential settings and the complexities that arise.
This module introduces the concept of subgame perfect Nash equilibrium, explaining its significance in extensive games. Students will learn how to identify subgame perfect equilibria and their implications for strategic interactions.
This module focuses on backward induction, a key method for solving extensive games. Students will learn how to apply backward induction to determine optimal strategies and outcomes in sequential decision-making scenarios.
This module provides exercises on backward induction, allowing students to apply the concepts learned in practical scenarios. By solving these exercises, students will reinforce their understanding of backward induction and its application in extensive games.
This module introduces the Ultimatum Game, a fundamental concept in behavioral economics. Students will analyze how proposals and responses shape outcomes, exploring implications for negotiation and fairness in strategic interactions.
This module covers the Stackelberg Duopoly Model, detailing how firms compete in price and quantity. Students will learn about leader-follower dynamics and how this model applies to real-world market scenarios.