About the Course
This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.
Course Structure
This Yale College course, taught on campus twice per week for 75 minutes, was recorded for Open Yale Courses in Fall 2007.
https://oyc.yale.edu/economics/econ-159
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About the Course
This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.
Course Structure
This Yale College course, taught on campus twice per week for 75 minutes, was recorded for Open Yale Courses in Fall 2007.
https://oyc.yale.edu/economics/econ-159
Lecture 7 - Nash Equilibrium: Shopping, Standing and Voting on a Line
Yale Open Courses ECON 159: Game Theory
1 hour 11 minutes 21 seconds
7 years ago
Lecture 7 - Nash Equilibrium: Shopping, Standing and Voting on a Line
We first consider the alternative “Bertrand” model of imperfect competition between two firms in which the firms set prices rather than setting quantities. Then we consider a richer model in which firms still set prices but in which the goods they produce are not identical. We model the firms as stores that are on either end of a long road or line. Customers live along this line. Then we return to models of strategic politics in which it is voters that are spread along a line. This time, however, we do not allow candidates to choose positions: they can only choose whether or not to enter the election. We play this “candidate-voter game” in the class, and we start to analyze both as a lesson about the notion of equilibrium and a lesson about politics.
Yale Open Courses ECON 159: Game Theory
About the Course
This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.
Course Structure
This Yale College course, taught on campus twice per week for 75 minutes, was recorded for Open Yale Courses in Fall 2007.
https://oyc.yale.edu/economics/econ-159
