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In this lecture we introduce game theory, following recap over the risk and insurance parts of the module we looked at last week. Game theory is the study of strategic interaction. In this lecture we looked at the history of game theory and the components of any game: players, strategies, and payoffs. We [...]
Also tagged Economics, Game, Institutes, Nash, Nash Equilibrium, Prisoner's dilemma, Social SciencesIn the last lecture we extended the basics of game theory to think about ways in which we could find solutions to normal and extensive form games. Watch that lecture here. Thanks to Jason and Emma, you should have a good handle on the prisoner’s dilemma now.
In this lecture we’ll finish off talking about game [...]
Last time we looked at the history of game theory and the components of any game: players, strategies, and payoffs. We also discussed the first equilibrium concept we are going to see: the Nash equilibrium.
In this lecture, we’ll look at a few games in normal and Iterated forms, and talk about solution methods for these [...]
Last time we looked at uncertainty, risk, and probability. We’ll recap those, and move onto Game Theory.
Click below for lecture notes, slides, and links to readings. A podcast of the lecture will be available after the lecture, as will a survey of the lecture. Don’t forget you can print these notes by clicking the [...]