{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Lecture11_GameTheory1_Econ121_Fall2010+_Revised_ (1)

Lecture11_GameTheory1_Econ121_Fall2010+_Revised_ (1) -...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Click to edit Master subtitle style  2/2/11 Lecture 11 Game Theory 1 Econ 121: Industrial Organization UC Berkeley Fall 2010 Prof. Cristian Santesteban
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
 2/2/11 Overview Game Theory – Review Dominant Strategies – Prisoner’s Dilemma Multiple Nash Equilibria Pure versus Mixed Strategy Equilibria Sequential Games Repeated Games
Image of page 2
 2/2/11 Definition of a Game A “game” consists of A set of players A set of strategies for each player A payoff function that tells us what each player gets as a function of the strategies chosen by all players
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
 2/2/11 Dominant Strategies A dominant strategy is a strategy that is optimal no matter what strategies are chosen by the other players If a player has a dominant strategy, then he does not have to form expectations about what his opponent is going to do. Easy to analyze. The players must play an equilibrium in dominant
Image of page 4
PRICE COMPETITION
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern