Economic Applications of Game Theory Learn more

Game Theory is an important theory of Microeconomics that deals with the analysis of situations in which the payoff of a decision maker depends not only on his own moves but also on the actions of his close competitors in that particular field. Game Theory, also known as Multiperson Decision Theory, has emerged as branch of mathematic however it has applications in several other fields as well, including economics, politics, law, biology, and computer science. Governments, too, employ game theory to figure out responses to public policy. If you want to have a better understanding of its applications primarily in economics then, take this free online course titled “Economic Applications of Game Theory”.

Who should take this course?
Individuals, businesses and even government institutions and employees can benefit from this free online course. Economics students contemplating on pursuing advanced studies in this field can also take this course.

What are the benefits of this course?
After taking this free online course you should be able to develop and employ strategies to maximize your organization’s rewards by factoring in what others in the group might do.

Table of Contents:
- Introduction to Game Theory
- Decision Theory
- Representation of Games
- Dominance
- Rationalizability
- Nash Equilibrium
- Application: Imperfect Competition
- Backward Induction
- Application: Negotiation
- Subgame-Perfect Nash Equilibrium
- Repeated Games
- Application: Implicit Cartels
- Static Games with Incomplete Information
- Static Applications with Incomplete Information
- Dynamic Games with Incomplete Information

Author Bio:
This free online course has been prepared by Prof. Muhamet Yildiz, who is Professor of Economics in the Department of Economics of the Massachusetts Institute of Technology. Professor Muhamet received his M.A. in economics in 1994 from Bogazici University, Istanbul, Turkey and got Ph.D. in Economic Analysis and Policy in 2000 from Stanford University. His areas of specialization include Microeconomics and Game Theory.

This billboard titled "Economic Applications of Game Theory" was created by Muhamet Yildiz on 07 September 2013 and is available for Free. Current reach of this billboard is 841 users.

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