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ECONOMIC APPLICATIONS OF GAME THEORY
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ECONOMIC APPLICATIONS OF GAME THEORY
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Academic year 2019/2020
- Course ID
- SEM0081
- Teacher
- Dino Gerardi (Lecturer)
- Year
- 2nd year
- Teaching period
- Primo semestre
- Type
- Related or integrative
- Credits/Recognition
- 6
- Course disciplinary sector (SSD)
- SECS-S/06 - metodi matematici dell'economia e delle scienze att. e finanz.
- Delivery
- Formal authority
- Language
- English
- Attendance
- Optional
- Type of examination
- Written
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Sommario del corso
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Course objectives
The course provides a mathematical treatment of choice under uncertainty and game theory. We will develop and solve formal models of strategic interactions among economic agents. We will consider several economic applications, such as imperfect competition, auctions, public goods and bargaining.
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Results of learning outcomes
The students will learn about strategic thinking and its implications. They are also expected to master all the tools presented during the course.
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Course delivery
Lectures and problem sets with solutions (the problem sets will not be graded).
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Learning assessment methods
Closed-booked written exam (two hours).
The exam will consist of a few questions and/or problems. The mark assigned to each question/problem will depend on the level of difficulty.
In June and July 2020 the exams will be online (via Webex). Please read the University's Code of Ethics: https://www.unito.it/sites/default/files/allegati/01-08-2014/cod_etico_comunita_universitaria.pdf
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Program
I. Introduction.
II. Decision Theory.
Dominance, beliefs and "Never Weak Best Response" strategies.
III. Strategic Form Games
Dominance, Nash equilibrium, mixed strategies.
IV. Extensive Form Games
Corresponding strategic forms, behavioral strategies, backwards induction, subgame perfect equilibrium.
V. Games of Incomplete Information
Normal-form representation of static games of incomplete information, Bayesian Nash equilibrium, perfect Bayesian equilibrium.
VI. Repeated Games
Folk theorems.
VII. Mechanism Design
Design of the optimal auction, the revenue equivalence theorem.
Suggested readings and bibliography
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Martin J. Osborne: An Introduction to Game Theory, Oxford University Press.
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Class schedule
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