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Class_1 - Econ171Introductionto GameTheory Summer Session...

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    Econ 171 – Introduction to  Game Theory Summer Session B, 2011
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Class info Web: Check Gauchospace for the syllabus, announcements, and slides. Instructor: Ernest Boffy-Ramirez ebr@econ.ucsb.edu Course materials: Strategy: An Introduction to Game Theory , by Joel Watson iClicker
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Class info Waitlist: https://waitlist.ucsb.edu/ Syllabus: Class objectives Expectations Participation
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Office hours When should I have office hours? a) M 2:00-3:00 b) T 5:00-6:00 c) W 2:00-3:00 d) TH 12:00-1:00 e) I don’t care. It’s too nice out to attend OH.
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What is (and is not) game theory? Is this a situation to which we would apply game theory?
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What is (and is not) game theory? Is this a situation to which we would apply game theory? Suppose you are: b) A competitor considering entering the market, and want to decide your p & q.
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What is (and is not) game theory? Is this a situation to which we would apply game theory? Suppose you are: A competitor considering entering the market, and want You go out to dinner with your friends. a) Everyone pays for own meal. b) Split the bill equally.
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A more formal definition: Definition : Game Theory is a formal way to analyze interaction among a group of rational agents who behave strategically. Important concepts packed in this definition: Group: more than one decision maker Interaction: one player’s behavior affects another’s Strategic: players take interdependence into account Rational: players choose the best action (given beliefs) What is (and is not) game theory? 
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Answer: Strategic Situations
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Class_1 - Econ171Introductionto GameTheory Summer Session...

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