Economics - Game Theory and Applications

Catalog description

This course covers basic game theory and applications. Topics covered include strategic games with complete information, Bayesian games (with incomplete information), extensive games with perfect information, and extensive games with imperfect information. Equilibrium concepts covered include Nash equilibrium, mixed-strategy Nash equilibrium, rationalizability, Bayesian Nash equilibrium, sub-game perfect Nash equilibrium, and sequential equilibrium. Depending on availability of time, additional topics may include strictly competitive games and repeated games. The course may include diverse applications such as in business strategy, auctions, voting, international trade, military conflicts, contracts, regulation, and industrial organization. Prerequisite: MATH 127; ECON 526 or MATH 526; MATH 290 recommended.