Yale Open Courses ECON 159: Game Theory
William SheppardAbout 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 T... more
| Publishes | Daily | Episodes | 24 | Founded | 7 years ago |
|---|---|---|---|---|---|
| Category | Education | ||||
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We discuss auctions. We first distinguish two extremes: common values and private values. We hold a common value auction in class and discover the winner’s curse, the winner tends to overpay. We discuss why this occurs and how to avoid it: you should... more
We look at two settings with asymmetric information; one side of a game knows something that the other side does not. We should always interpret attempts to communicate or signal such information taking into account the incentives of the person doing... more
In business or personal relationships, promises and threats of good and bad behavior tomorrow may provide good incentives for good behavior today, but, to work, these promises and threats must be credible. In particular, they must come from equilibri... more
We discuss repeated games, aiming to unpack the intuition that the promise of rewards and the threat of punishment in the future of a relationship can provide incentives for good behavior today. In class, we play prisoners’ dilemma twice and three ti... more
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- I loved this
I just listened to professor Shepherd’s podcast while out on a run tonight and I loved it. I just had my first class of game theory last Thursday and I thought this would help me be more prepared for next class. I go to Arizona state and during the last half he took a shot at university of arizona calling them stupid, and he hasn't met any students from Arizona before. I enjoyed the lecture so I will not share this with Arizonans so you’re safe. Thank you for the upload!
Apple Podcasts5Catsmeowsometimes
United States6 years ago - Edutainment at its finest
Professor Polak structures the class adroitly. This works well as a podcast. I learned a great deal about auctions and enjoyed myself the while.
Apple Podcasts5CaseyRPUnited States7 years ago
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