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Yale Open Courses ECON 159: Game Theory
William Sheppard
24 episodes
6 days ago
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
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Education
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Lecture 8 - Nash Equilibrium: Location, Segregation and Randomization
Yale Open Courses ECON 159: Game Theory
1 hour 13 minutes 49 seconds
7 years ago
Lecture 8 - Nash Equilibrium: Location, Segregation and Randomization
We first complete our discussion of the candidate-voter model showing, in particular, that, in equilibrium, two candidates cannot be too far apart. Then we play and analyze Schelling’s location game. We discuss how segregation can occur in society even if no one desires it. We also learn that seemingly irrelevant details of a model can matter. We consider randomizations first by a central authority (such as in a bussing policy), and then decentralized randomization by the individuals themselves, “mixed strategies.” Finally, we look at rock, paper, scissors to see an example of a mixed-strategy equilibrium to a game.
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