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Lecture 6 - Nash equilibrium: dating and Cournot

This video was recorded at ECON 159 - Game Theory. We apply the notion of Nash Equilibrium, first, to some more coordination games; in particular, the Battle of the Sexes. Then we analyze the classic Cournot model of imperfect competition between firms. We consider the difficulties in colluding in such settings, and we discuss the welfare consequences of the Cournot equilibrium as compared to monopoly and perfect competition. Reading assignment: Strategies and Games: Theory And Practice. (Dutta): Chapters 6-7 Strategy: An Introduction to Game Theory. (Watson): Chapter 10 Thinking Strategically. (Dixit and Nalebuff): Chapter 9, Section 5 Resources: Blackboard Notes Lecture 6[PDF]

Keywords:: videolectures, ocwc, oec

Disciplines:

Mathematics and Statistics / Mathematics / Discrete Mathematics / Game Theory

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Material Type:: Presentation
Date Added to MERLOT:: February 10, 2015
Date Modified in MERLOT:: February 10, 2015
Author:: Benjamin Polak, Department of Economics, Yale University
Submitter:: The Open Education Consortium
Primary Audience:: College General Ed, College Lower Division, College Upper Division
Technical Format:: Video

Mobile Compatibility:: Not specified at this time
Language:: English
Cost Involved:: No
Source Code Available:: No
Accessibility Information Available:: Unknown
Creative Commons:: This work is licensed under a Attribution-NonCommercial-NoDerivs 3.0 United States