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Unformatted text preview: Class Info Game Theory Normal Form Games Econ 171 Spring 2010 Class 1  March 30, 2010 Index cards: Name, pronunciation, perm no.,major, native language, Math background, Reason for interest in class, Economics is... Web: http://econ.ucsb.edu/ ~ grossman/Econ171S10 Instructor: Zack Grossman: grossman[at]econ.ucsb.edu Office hours: Thursday, 12:30  1:30pm, NH 3049 Materials: 1 Strategy by Joel Watson 2 iClicker Waitlist: https://waitlist.ucsb.edu/ Class Info Game Theory Normal Form Games What is (and is not) game theory? Is this a situation to which we would apply game theory? Suppose there is a monopolist What is optimal p , q ? No A competitor is considering entering the marketwhat is optimal p , q ? Yes You go out to dinner with your friends Everyone pays for own meal. No Split the bill equally. Yes Class Info Game Theory Normal Form Games What is (and is not) game theory? Slightly 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 into this definition: Group: more than one decision maker Interaction: one players behavior affects another Strategic: players take this interdependence into account Rational: Players choose the best action (given beliefs) Class Info Game Theory Normal Form Games Q: When does game theory apply?...
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This note was uploaded on 12/26/2011 for the course ECON 171 taught by Professor Charness,g during the Fall '08 term at UCSB.
 Fall '08
 Charness,G
 Game Theory

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