EC3312
GAME THEORY & APPLICATIONS TO ECONOMICS
Semester 1, 2012/2013
Satoru TAKAHASHI
15 August 2012
Prerequisite: EC2101/EC2151 and a module on probability (BK1004,
EC2303/EC2231, GM2303, MA2216, MQ2205, any SA module, any ST
module, or their equivalent)
NATIONAL UNIVERSITY OF SINGAPORE
SEMESTER II 2011-2012
EC3312 GAME THEORY AND APPLICATIONS TO
ECONOMICS
1 March 2012 - Time Allowed: 105 Minutes
INSTRUCTIONS TO CANDIDATES
1. This is a closed-book examination.
2. This examination paper contains FIVE (5) q
Testing Mixed-Strategy Equilibria When Players Are
Heterogeneous: The Case of Penalty Kicks in Soccer
By P.-A. CHIAPPORI, S. LEVITT,
The concept of mixed strategy is a fundamental component of game theory, and its normative importance is undisputed. Howev
Minimax Play at Wimbledon
By MARK WALKER
AND JOHN
In many strategic situations it is important
that ones actions not be predictable by ones
opponent, or by ones opponents. Indeed, the
origins of modern game theory lie in the attempt
to understand such sit
Static (Simultaneous-Move) Games
How to represent? Normal form
How to solve? Nash equilibrium, dominant strategies,
iterative elimination of dominated strategies
Examples: prisoners dilemma, rock-scissors-paper, etc
Applications: Cournot (quantity setting
Review of Economic Studies (2003) 70, 395–415
c 2003 The Review of Economic Studies Limited
0034-6527/03/00150395$02.00
Professionals Play Minimax
IGNACIO PALACIOS-HUERTA
Brown University
First version received September 2001; ﬁnal version accepted Octobe
EC3312 Game Theory and Applications to
Economics
Satoru Takahashi
19 September 2012
Satoru Takahashi ()
EC3312 - Lecture 6
19 September 2012
1 / 19
Games of Complete but Imperfect Information
We study games of imperfect information, which allow for player
EC3312 Game Theory and Applications to
Economics
Satoru Takahashi
12 September 2012
Satoru Takahashi ()
EC3312 - Lecture 5
12 September 2012
1 / 22
Dynamic Games of Complete Information
The goal of lecture 4 is
to introduce an extensive-form game (game tr
EC3312 Game Theory and Applications to
Economics
Satoru Takahashi
5 September 2012
Satoru Takahashi ()
EC3312 - Lecture 4
5 September 2012
1 / 20
On the Midterm Exam
Exam in class, 3 October, Wednesday, 4-5:35pm, LT14
review session (by me), 20 September,
EC3312 Game Theory and Applications to
Economics
Satoru TAKAHASHI
29 August 2012
Satoru TAKAHASHI
EC3312 - Lecture 3
29 August 2012
1 / 15
A Comment on Weak Dominance
L
C
R
T 2, 1 1, 2 0, 0
M 1, 2 2, 1 0, 0
B 0, 0 0, 0 0, 0
B is weakly dominated by T (and
EC3312 Game Theory and Applications to
Economics
Satoru Takahashi
22 August 2012
Satoru Takahashi
EC3312 - Lecture 2
22 August 2012
1 / 17
Classication of Games
Static
Dynamic
Complete Info
Normal-form game
Nash equilibrium
dynamic game
subgame-perfect Na