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14.123 Microeconomic Theory III (MIT) 14.123 Microeconomic Theory III (MIT)

Description

This half-semester course discusses decision theory and topics in game theory. We present models of individual decision-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance, supermodularity, monotone comparative statics, background risk, game theory, rationalizability, iterated strict dominance multi-stage games, sequential equilibrium, trembling-hand perfection, stability, signaling games, theory of auctions, global games, repeated games, and correlation. This half-semester course discusses decision theory and topics in game theory. We present models of individual decision-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance, supermodularity, monotone comparative statics, background risk, game theory, rationalizability, iterated strict dominance multi-stage games, sequential equilibrium, trembling-hand perfection, stability, signaling games, theory of auctions, global games, repeated games, and correlation.

Subjects

microeconomics | microeconomics | microeconomic theory | microeconomic theory | preference | preference | utility representation | utility representation | expected utility | expected utility | positive interpretation | positive interpretation | normative interpretation | normative interpretation | risk | risk | stochastic dominance | stochastic dominance | insurance | insurance | finance | finance | supermodularity | supermodularity | comparative statics | comparative statics | decision theory | decision theory | game theory | game theory | rationalizability | rationalizability | iterated strict dominance | iterated strict dominance | iterated conditional dominance | iterated conditional dominance | bargaining | bargaining | equilibrium | equilibrium | sequential equilibrium | sequential equilibrium | trembling-hand perfection | trembling-hand perfection | signaling games | signaling games | auctions | auctions | global games | global games | repeated games | repeated games | correlation | correlation

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.126 Game Theory (MIT) 14.126 Game Theory (MIT)

Description

This course is a rigorous investigation of the evolutionary and epistemic foundations of solution concepts, such as rationalizability and Nash equilibrium. It covers classical topics, such as repeated games, bargaining, and supermodular games as well as new topics such as global games, heterogeneous priors, psychological games, and games without expected utility maximization. Applications are provided when available. This course is a rigorous investigation of the evolutionary and epistemic foundations of solution concepts, such as rationalizability and Nash equilibrium. It covers classical topics, such as repeated games, bargaining, and supermodular games as well as new topics such as global games, heterogeneous priors, psychological games, and games without expected utility maximization. Applications are provided when available.

Subjects

extensive-form games | extensive-form games | Nash equilibria | Nash equilibria | evolutionary equilibria | evolutionary equilibria | bargaining with incomplete information | bargaining with incomplete information | rationalizability | rationalizability | non-cooperative games | non-cooperative games

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.123 Microeconomic Theory III (MIT) 14.123 Microeconomic Theory III (MIT)

Description

This is a half-semester course which covers the topics in Microeconomic Theory that everybody with a Ph.D. from MIT Economics Department should know but that have not yet been covered in the Micro sequence. Hence, it covers several unrelated topics. The topics come from three general areas: Decision Theory, Game Theory, and Behaviorla Economics.  I will try my best to put them in a coherent narrative, but there will be inherent jumps from topic to topic. This is a half-semester course which covers the topics in Microeconomic Theory that everybody with a Ph.D. from MIT Economics Department should know but that have not yet been covered in the Micro sequence. Hence, it covers several unrelated topics. The topics come from three general areas: Decision Theory, Game Theory, and Behaviorla Economics.  I will try my best to put them in a coherent narrative, but there will be inherent jumps from topic to topic.

Subjects

microeconomic theory | microeconomic theory | reputation formation | reputation formation | rationalizability | rationalizability | game theory | game theory | behavioral economics | behavioral economics

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.123 Microeconomic Theory III (MIT) 14.123 Microeconomic Theory III (MIT)

Description

This course covers models of individual decision-making under certainty and uncertainty. Applications include risk sharing and financial markets; contracts and information economics; village economies and national development; models with money and credit; trade, spatial economics and differentiated commodities. This course covers models of individual decision-making under certainty and uncertainty. Applications include risk sharing and financial markets; contracts and information economics; village economies and national development; models with money and credit; trade, spatial economics and differentiated commodities.

Subjects

microeconomic theory | microeconomic theory | rationalizability | rationalizability | game theory | game theory | behavioral economics | behavioral economics | choice | choice | preference | preference | risk | risk | risk-aversion | risk-aversion | Expected Utility Theory | Expected Utility Theory | Prospect Theory | Prospect Theory | decision making | decision making | decision theory | decision theory

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.123 Microeconomic Theory III (MIT) 14.123 Microeconomic Theory III (MIT)

Description

This is a half-semester course which covers the topics in Microeconomic Theory that everybody with a Ph.D. from MIT Economics Department should know but that have not yet been covered in the Micro sequence. Hence, it covers several unrelated topics. The topics come from three general areas: Decision Theory, Game Theory, and Behaviorla Economics.  I will try my best to put them in a coherent narrative, but there will be inherent jumps from topic to topic. This is a half-semester course which covers the topics in Microeconomic Theory that everybody with a Ph.D. from MIT Economics Department should know but that have not yet been covered in the Micro sequence. Hence, it covers several unrelated topics. The topics come from three general areas: Decision Theory, Game Theory, and Behaviorla Economics.  I will try my best to put them in a coherent narrative, but there will be inherent jumps from topic to topic.

Subjects

microeconomic theory | microeconomic theory | reputation formation | reputation formation | rationalizability | rationalizability | game theory | game theory | behavioral economics | behavioral economics

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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14.126 Game Theory (MIT) 14.126 Game Theory (MIT)

Description

This course is a rigorous investigation of the evolutionary and epistemic foundations of solution concepts, such as rationalizability and Nash equilibrium. It covers classical topics, such as repeated games, bargaining, and supermodular games as well as new topics such as global games, heterogeneous priors, psychological games, and games without expected utility maximization. Applications are provided when available. This course is a rigorous investigation of the evolutionary and epistemic foundations of solution concepts, such as rationalizability and Nash equilibrium. It covers classical topics, such as repeated games, bargaining, and supermodular games as well as new topics such as global games, heterogeneous priors, psychological games, and games without expected utility maximization. Applications are provided when available.

Subjects

extensive-form games | extensive-form games | Nash equilibria | Nash equilibria | evolutionary equilibria | evolutionary equilibria | bargaining with incomplete information | bargaining with incomplete information | rationalizability | rationalizability | non-cooperative games | non-cooperative games

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.123 Microeconomic Theory III (MIT)

Description

This is a half-semester course which covers the topics in Microeconomic Theory that everybody with a Ph.D. from MIT Economics Department should know but that have not yet been covered in the Micro sequence. Hence, it covers several unrelated topics. The topics come from three general areas: Decision Theory, Game Theory, and Behaviorla Economics.  I will try my best to put them in a coherent narrative, but there will be inherent jumps from topic to topic.

Subjects

microeconomic theory | reputation formation | rationalizability | game theory | behavioral economics

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.123 Microeconomic Theory III (MIT)

Description

This half-semester course discusses decision theory and topics in game theory. We present models of individual decision-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance, supermodularity, monotone comparative statics, background risk, game theory, rationalizability, iterated strict dominance multi-stage games, sequential equilibrium, trembling-hand perfection, stability, signaling games, theory of auctions, global games, repeated games, and correlation.

Subjects

microeconomics | microeconomic theory | preference | utility representation | expected utility | positive interpretation | normative interpretation | risk | stochastic dominance | insurance | finance | supermodularity | comparative statics | decision theory | game theory | rationalizability | iterated strict dominance | iterated conditional dominance | bargaining | equilibrium | sequential equilibrium | trembling-hand perfection | signaling games | auctions | global games | repeated games | correlation

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.123 Microeconomic Theory III (MIT)

Description

This course covers models of individual decision-making under certainty and uncertainty. Applications include risk sharing and financial markets; contracts and information economics; village economies and national development; models with money and credit; trade, spatial economics and differentiated commodities.

Subjects

microeconomic theory | rationalizability | game theory | behavioral economics | choice | preference | risk | risk-aversion | Expected Utility Theory | Prospect Theory | decision making | decision theory

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.16 Strategy and Information (MIT)

Description

This is an advanced course in game theory. We begin with a rigorous overview of the main equilibrium concepts for non-­cooperative games in both static and dynamic settings with either complete or incomplete information. We define and explore properties of iterated strict dominance, rationalizability, Nash equilibrium, subgame perfection, sequential, perfect and proper equilibria, the intuitive criterion, and iterated weak dominance. We discuss applications to auctions, bargaining, and repeated games. Then we introduce solution concepts for cooperative games and study non-­cooperative implementations. Other topics include matching theory and networks. 

Subjects

game theory | iterated dominance | rationalizability | Nash equilibirum | subgame perfection | perfect Bayesian equilibrium | sequential equilibrium | perfect equilibrium | proper equilibrium | bargaining | networks

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.126 Game Theory (MIT)

Description

This course provides a rigorous treatment of non-cooperative solution concepts in game theory, including rationalizability and Nash, sequential, and stable equilibria. It covers topics such as epistemic foundations, higher order beliefs, bargaining, repeated games, reputation, supermodular games, and global games. It also introduces cooperative solution concepts—Nash bargaining solution, core, Shapley value—and develops corresponding non-cooperative foundations.

Subjects

extensive-form games | Nash equilibria | evolutionary equilibria | bargaining with incomplete information | rationalizability | non-cooperative games

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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14.126 Game Theory (MIT)

Description

This course is a rigorous investigation of the evolutionary and epistemic foundations of solution concepts, such as rationalizability and Nash equilibrium. It covers classical topics, such as repeated games, bargaining, and supermodular games as well as new topics such as global games, heterogeneous priors, psychological games, and games without expected utility maximization. Applications are provided when available.

Subjects

extensive-form games | Nash equilibria | evolutionary equilibria | bargaining with incomplete information | rationalizability | non-cooperative games

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

Site sourced from

https://ocw.mit.edu/rss/all/mit-allarchivedcourses.xml

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