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Games and Decisions

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Anno accademico 2012/2013

Docente
Paolo Ghirardato (Titolare del corso)
Corso di studi
Laurea Magistrale Interateneo in Fisica dei sistemi complessi
Tipologia
C=Affine o integrativo
Crediti/Valenza
6
SSD dell'attività didattica
SECS-S/06 - metodi matematici dell'economia e delle scienze att. e finanz.
Lingua di insegnamento
Italiano
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Sommario insegnamento

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Programma

This is a course which introduces students to the formalization and analysis of decision making both in a single-person and in a strategic (i.e., game theory) environment. While the course's emphasis is on theoretical issues, some attention is also given to the application of concepts to business, economic and financial problems.

The course is divided in two parts:

Part 1: Decisions (Ghirardato)

  • Introduction and overview of decision models
  • Known probabilities: The Expected Utility Model
  • Subjective probability: The Subjective Expected Utility model (Anscombe-Aumann and Savage)
  • Non-expected utility models: The Allais and Ellsberg paradoxes and their rationalizations

Part 2: Games (Gerardi)

  • A decision-theoretic approach: Dominance, beliefs and "Never Weak Best Response" strategies
  • Strategic form games: Dominance, Nash equilibrium, mixed strategies
  • Extensive Form Games: Corresponding strategic forms, behavioral strategies, backwards induction, subgame perfect equilibrium
  • Games of Incomplete Information: Normal-form representation of static games of incomplete information, Bayesian Nash equilibrium, perfect Bayesian equilibrium
  • Repeated Games: Folk theorems

The exam is mostly going to be based on the class notes and some readings assigned in class. However, for supplemental reading (and some homework exercises)

Testi consigliati e bibliografia

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the following are the suggested textbooks for the course:

  • David Kreps, Notes on the Theory of Choice, Westwood Press, 1988 (hard, but good as reference)
  • Martin J. Osborne, An Introduction to Game Theory, Oxford University Press, 2003 (easier)
  • Martin J. Osborne and Ariel Rubinstein, A Course in Game Theory, The MIT Press, 1994 (harder, but available electronically here)


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Altre informazioni

http://web.econ.unito.it/gma/didattica/gd/gd.htm
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