Games and Economic Behavior

Catalog description

Credits 3. 3 Lecture Hours. Examines strategic interaction and decision-making using game theory; develops the concepts of strategy, equilibrium and rational behavior in simultaneous, sequential and repeated games; examines topics such as uncertainty, information, coordination and collective action; explores equilibrium refinements and evolutionary stability; applies theoretical tools to real-world settings including auctions, bargaining, oligopoly, voting and cooperation; emphasizes how strategic reasoning and experimental evidence inform understanding of competition and cooperation among individuals and organizations. Prerequisite: Grade of C or better in ECON 323 .