slides1 - 14.12 Economic Applications of Game Theory...

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14.12 Economic Applications of Game Theory • Professor: Muhamet Yildiz • Lecture: MW 3:00-4:30 1
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Recitations F 10 F 3 F xx (xxx) Quiz Problem Without discussing with anyone, each student is to write down a real number x i between 0 and 100 on a paper and submit it to a TA. The TAs will then compute the average x 1 + + L + x x 2 n x = . n The grade of a student is 100 where x i is the number student bids. x i 2 x /3 2
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Name of the game Game Theory = Multi-person decision theory The outcome is determined by the actions independently taken by multiple decision makers. Strategic interaction. – Need to understand what the others will do … what the others think that you will do 3 Truro Falmouth Plymouth Torquay Exeter Bodmin Celtic Sea Tiverton Cardiff Bristol Newbury London Prime Meridian Swindon Oxford Luton Banbury Merthyr Tydfil Swansea WALES UNITED KINGDOM Barnstaple Havant Bournemouth Brighton Eu Dieppe Yuetot Rouen Lisieux Caen
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slides1 - 14.12 Economic Applications of Game Theory...

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