MIT Subject Listing & Schedule
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14.12 Economic Applications of Game Theory

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Prereq: 14.01 and (6.041B, 14.04, 14.30, 18.05, or permission of instructor)
Units: 4-0-8
Lecture: TR10.30-12 (4-237) Recitation: F10 (E51-376) or F2 (E51-361) or F3 (E51-361) +final

Analysis of strategic behavior in multi-person economic settings. Introduction to solution concepts, such as rationalizability, backwards induction, Nash equilibrium, subgame-perfect equilibrium, and sequential equilibrium. Strong emphasis on dynamic games, such as repeated games. Introduction to Bayesian games, focusing on Bayesian Nash Equilibrium, Perfect Bayesian Equilibrium, and signaling games. Applications drawn from microeconomics: imperfect competition, implicit cartels, bargaining, and auctions.
I. Ball
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