Martha Debayle
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About the show
This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.
This Yale College course, taught on campus twice per week for 75 minutes, was recorded for Open Yale Courses in Fall 2007.
Latest episodes
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12 – Evolutionary Stability: Social Convention, Aggression, and Cycles
October 15, 2007 · 1 hr 6 minWe apply the idea of evolutionary stability to consider the evolution of social conventions. Then we consider games that involve aggressive (Hawk) and passive (Dove) strategies, finding that sometimes, evolutionary populations are mixed…
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11 – Evolutionary Stability: Cooperation, Mutation, and Equilibrium
October 10, 2007 · 1 hr 12 minWe discuss evolution and game theory, and introduce the concept of evolutionary stability. We ask what kinds of strategies are evolutionarily stable, and how this idea from biology relates to concepts from economics like domination and…
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10 – Mixed Strategies in Baseball, Dating and Paying Your Taxes
October 8, 2007 · 1 hr 14 minWe develop three different interpretations of mixed strategies in various contexts: sport, anti-terrorism strategy, dating, paying taxes and auditing taxpayers. One interpretation is that people literally randomize over their choices…
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9 – Mixed Strategies in Theory and Tennis
October 3, 2007 · 1 hr 13 minWe continue our discussion of mixed strategies. First we discuss the payoff to a mixed strategy, pointing out that it must be a weighed average of the payoffs to the pure strategies used in the mix. We note a consequence of this: if a…
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8 – Nash Equilibrium: Location, Segregation and Randomization
October 1, 2007 · 1 hr 14 minWe first complete our discussion of the candidate-voter model showing, in particular, that, in equilibrium, two candidates cannot be too far apart. Then we play and analyze Schelling’s location game. We discuss how segregation can occur in…
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7 – Nash Equilibrium: Shopping, Standing and Voting on a Line
September 26, 2007 · 1 hr 11 minWe first consider the alternative “Bertrand” model of imperfect competition between two firms in which the firms set prices rather than setting quantities. Then we consider a richer model in which firms still set prices but in which the…
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6 – Nash Equilibrium: Dating and Cournot
September 24, 2007 · 1 hr 12 minWe apply the notion of Nash Equilibrium, first, to some more coordination games; in particular, the Battle of the Sexes. Then we analyze the classic Cournot model of imperfect competition between firms. We consider the difficulties in…
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5 – Nash Equilibrium: Bad Fashion and Bank Runs
September 19, 2007 · 1 hr 9 minWe first define formally the new concept from last time: Nash equilibrium. Then we discuss why we might be interested in Nash equilibrium and how we might find Nash equilibrium in various games. As an example, we play a class investment…