Games and Information

Catalog description

Game theory offers a framework for analyzing social interactions and emergent behavior in a very wide variety of human contexts. The purpose of this course is to offer a critical introduction to game theory and its applications. Economic applications include the analysis of conflict and the emergence of trust and cooperation out of anarchy, the analysis of firms' strategic behavior in concentrated markets, or of herd behavior and panics in financial markets. Asymmetric information economics and mechanism- design extend game theory by exploring how the design of the rules of a game, or the initial distribution of information might affect equilibrium behavior outcomes, and therefore how one might choose to set up the rules of the game to govern their interactions.