Game Theory.

Catalog description

This course introduces the basic concepts of game theory. Game theory is the study of strategic decision-making-that is, making decisions when individuals' actions affect each other. It is a powerful tool, applicable in a broad range of fields, from economics and business, to politics and law, and even biology. Firm competition, auctions, international conflict resolution, and animal mating behavior are all multi-agent decision problems; they are all games. Students learn how to recognize games, how to formally model their key properties, and how to predict outcomes based on concepts of equilibrium. Above all, students learn to think strategically with precision and rigor. Prerequisite: ECON 326