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Microeconomics II (Game Theory)

  • Lecture:

    • Tuesday, 16:00 - 17:30, Hörsaal XII (Main Building)
    • Wednesday, 16:00 - 17:30, Hörsaal XXI (Main Building)
    • Lecture starts 10.10.2017

  • Tutorial:

    • Thursday, 12:00 - 13:30, Hörsaal XVIII (Main Building)
    • Tutorial starts 19.10.2017

Structure and organization: The course consists of a Lecture (taught by Jaume García-Segarra) and a Tutorial (taught by Michele Garagnani). The Lecture will present the basic concepts and main references. The tutorial will be used to discuss exercises and present additional references and applications.

Important Information: (download PDF here)
The course “Microeconomics II” is offered every semester and satisfies the requirements for the “Aufbaumodul Mikroökonomik” (PO 2015) and the module “Mikroökonomik (Spieltheorie und Industrieökonomik)” (PO 2007/2008), respectively. Please note that the courses “Microeconomics II” offered in the winter and summer term, respectively, differ with regard to their content and structure.

  •  In the winter term the course “Microeconomics II” is offered in English and in one single part (4h + Tutorial) as “Microeconomics II (Game Theory)” by Prof. Alós-Ferrer.
  • In the summer term the course “Microeconomics II” is offered in German jointly by Prof. Ockenfels and Prof. Höffler. The course (4h + Tutorial) is split into the two parts “Spieltheorie” (first part of the semester, Prof. Ockenfels) and “Industrieökonomik” (second part of the semester, Prof. Höffler).

Content:

  1. Introduction
  2. Normal-Form Games

    1. Dominant Strategies
    2. Nash Equilibria
    3. Zero-Sum Games and Common-Interest Games
    4. Application: Oligopoly

  3. Mixed Strategies

    1. Expected Utility
    2. Existence of Nash Equilibria
    3. Evolutionary Games

  4. Extensive-Form Games

    1. Subgame Perfection
    2. Imperfect Information
    3. Behavioral Strategies
    4. Perfect Recall and Kuhn's Theorem

  5. Repeated Games

    1. Folk Theorems
    2. Application: Incentives to Collusion

  6. Bayesian Games

    1. Bayes-Nash Equilibria
    2. Application: Auctions

  7. Perfect Bayesian Equilibrium

    1. Definition
    2. Signalling Games
    3. Application: Spence's Job Market

Literature:

  • R. GIBBONS, “A primer in Game Theory”, Harvester Wheatsheaf, 1992.
  • H.S. BIERMAN and L. FERNANDEZ, “Game Theory with Economic
    Applications”, 2nd Edition, Addison Wesley, 1998.
  • P. DUTTA, “Strategies and Games”, The MIT Press, Cambridge, MA, 1998.
  • H. WIESE “Entscheidungs- und Spieltheorie”, Springer Verlag, Berlin
    Heidelberg Vienna, 2002.