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. Introductory microeconomics (115 or equivalent) is required.
Intermediate micro (150/2) is not required, but it is recommended.
Game theory is a way of thinking about strategic situations.
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About Professor Ben Polak Ben Polak is Professor of Economics and Management in the Department of Economics and the School of Management at Yale University.
Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
For more information, see the latest announcement from the NBER's Business Cycle Dating Committee, dated 9/20/10.
A second aim is to predict how other people or organizations behave when they are in strategic settings. We will learn new concepts, methods and terminology. Most of the reading for this course comes from the first ten chapters of Dutta or from the first two parts of Watson. The readings are not compulsory, but they will help back up the class material.