Course Schedule and Catalog

Long Title: GAME THEORY AND ECONOMIC BEHAVIOR

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): (ECON 301 OR ECON 370) AND ECON 205

Description: The course develops a rigorous presentation of key concepts in game theory, and emphasizes their applications to economic modeling. Contents include: choice under uncertainty and Von Neumann Morgenstern utility; games in normal form: mixed strategies, Nash equilibrium (existence and stability); games in extensive form: backward induction and other equilibrium refinements; games with incomplete information: Bayesian Nash equilibrium; cooperative games: core stability and the Shapely value. Recommended prerequisite(s): Familiarity with mathematical arguments and probability theory.