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Econ 223: week 3 2012
Lecture 7 : Offically scheduled day and time not yet known (at Jan 2012) Simultaneous Games: the prisoner's dilemma and dominace solvable games (1 of 4)
- Topic: begin simple simultaneous games of complete and perfect information; introduce the idea of a dominant strategy and of a dominant strategy equilibrium equilibrium : prisoner's dilemma,dominance reasoning & Nash Equilibria in simple games
- handout | video on UC server | strategic econ videos on uctv
- read: Ch 4 Dixit and Skeath; Ch 5.3
- read: Chapter
1 of Binmore Playing For Real this is a pdf of one chapter from
Binmore's book and is reccommended, not required reading - it is too "mathematical" for the introductory course we are doing; See also Binmore's Natural Justice. ; If you
are going on in game theory you should consider buying and working
through Binmore's book, which you can check out reviews and comments
on at Amazon...Playing
for Real: A Text on Game Theory
; read Binmore on misinterpretations of the prisoner's dilemma
- have a look at the wikipedia article on the Prisoner's dilemma , and also ..that i mentioned for reading last week.:
Lecture 8 : Offically scheduled day and time not yet known (at Jan 2012)Simultaneous Games: iterated dominance reasoning; the Nash Equilibrium concept (2 of 4)
- Topic: when dominance reasoning isn't helpful...try iterated dominance and best response (Nash Equilibrium);
- handout | video on UC server | strategic econ videos on uctv
- read
- (Ch. 5) Just read; No need to try any of the questions at the end of chapter 5 ; concentrate on section 5,2 and 5.3
- Bryan Skyrms on the Stag Hunt (address to American Philosophical Assoc 2001)
- wikipedia on anarchy
Lecture 9 : Offically scheduled day and time not yet known (at Jan 2012)Simultaneous Games: Coordination games (3 of 4)
- Topic: a menu of simple 2x2 coordination games; Multiple Nash Equilibrium and the problem of coordination; Focal points; When will people voluntarily contribute to something good for them all? the VCM game;
- handout | video on UC server | strategic econ videos on uctv
- read:Roger Myerson on focal points; Thomas Schelling on focal points (rading TBA)
- article by Holt and Davis explaining the experimental results of the VCM and modifications via communication, thresholds etc (interest only reading) 28KBPDF
- Charlie Holt's great book has a good chapter on voluntary contributions in real life and in the experimental lab, and how they do (or do not) respond to thresholds, communications, changes in the costs and benefits of giving, numbers of participants, etc. Anyone involved in raising funds for charitable purposes should have a look at this chapter...then maybe the related research.
useful video clips, suggestions, etc
- the Voluntary Contributions Mechanism (VCM) game with divisible strategies and more players - analysis, available here on uctv
- iterated elimination of dominated strategies 6 min uctv video clip
News
- midterm test week 6; in class
- final test week 12 ; in class
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