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Презентация на тему Evolutionary game theory. (Lecture 11)

Содержание

OutlineAuctionsCommon value auctionsAll-pay auctionsReview of seminar 2Revision slides
LECTURE 11 OutlineAuctionsCommon value auctionsAll-pay auctionsReview of seminar 2Revision slides StructureEconomic decision problemModelAnalysisTheoryClassify, choose representationto model, sequential, repeated etc.Select tools to identify Lecture 1-2ClassificationSimultaneous games, 2 playersRepresentationConceptProcessLessonNormal form (payoff table)Pure NECooperationNE= likely outcomeNE vs. optimal outcomeCournotIterative eliminationBest response Lecture 3ClassificationSimultaneous games, 2 playersRepresentationConceptProcessLessonNormal form (payoff table)Mixed NERandomnessIndifferenceSolve π(a)=π (b) Lecture 4-5ClassificationSequentialRepresentationConceptProcessLessonExtensive form (game tree)SPECoordinationOrder mattersStrategic movesBackward induction Lecture 6ClassificationRepeated games (vs one-shot games)RepresentationConceptProcessLessonNormal formTrigger strategiesCooperationImportance of rTFTCournot and repetitionBackward induction Lecture 7ClassificationEvolutionary gamesRepresentationConceptProcessLessonNormal formESS Justification for NESome NE are not ESSSolve π(a)=π (b) Lecture 8-9ClassificationAsymmetric informationRepresentationConceptProcessLessonDiverseInformation manipulationCheap talk may or may not work Importance of Lecture 10-11ClassificationAuctions RepresentationConceptProcessLessonBid scaleWinning bidRevenue equivalenceWinner’s curseOptimal bid ExamSection A: 5 compulsory questions, at most 3 Past paper (2014-15)6.	In games of cooperation, explain how the repetition of play Section A1 conceptual question: e.g. explain the meaning of mixed strategies in Section A3 exercises + explain. SeminarsFind the NE (sequential, simultaneous games, repeated
Слайды презентации

Слайд 2 Outline
Auctions
Common value auctions
All-pay auctions
Review of seminar 2
Revision slides

OutlineAuctionsCommon value auctionsAll-pay auctionsReview of seminar 2Revision slides

Слайд 3 Structure
Economic decision problem
Model
Analysis
Theory




Classify, choose representation
to model, sequential, repeated

StructureEconomic decision problemModelAnalysisTheoryClassify, choose representationto model, sequential, repeated etc.Select tools to


etc.
Select tools to identify the equilibrium
NE, pure, mixed, SPE
Formulate

theory that predicts, explains

Perform data collection and
testing to develop theory


Слайд 4 Lecture 1-2
Classification
Simultaneous games, 2 players
Representation
Concept
Process
Lesson
Normal form (payoff table)
Pure

Lecture 1-2ClassificationSimultaneous games, 2 playersRepresentationConceptProcessLessonNormal form (payoff table)Pure NECooperationNE= likely outcomeNE vs. optimal outcomeCournotIterative eliminationBest response

NE
Cooperation
NE= likely outcome
NE vs. optimal outcome
Cournot
Iterative elimination
Best response


Слайд 5 Lecture 3
Classification
Simultaneous games, 2 players
Representation
Concept
Process
Lesson
Normal form (payoff table)
Mixed

Lecture 3ClassificationSimultaneous games, 2 playersRepresentationConceptProcessLessonNormal form (payoff table)Mixed NERandomnessIndifferenceSolve π(a)=π (b)

NE
Randomness
Indifference
Solve π(a)=π (b)


Слайд 6 Lecture 4-5
Classification
Sequential
Representation
Concept
Process
Lesson
Extensive form (game tree)
SPE
Coordination
Order matters
Strategic moves
Backward induction

Lecture 4-5ClassificationSequentialRepresentationConceptProcessLessonExtensive form (game tree)SPECoordinationOrder mattersStrategic movesBackward induction

Слайд 7 Lecture 6
Classification
Repeated games (vs one-shot games)
Representation
Concept
Process
Lesson
Normal form
Trigger strategies
Cooperation
Importance

Lecture 6ClassificationRepeated games (vs one-shot games)RepresentationConceptProcessLessonNormal formTrigger strategiesCooperationImportance of rTFTCournot and repetitionBackward induction

of r
TFT
Cournot and repetition
Backward induction


Слайд 8 Lecture 7
Classification
Evolutionary games
Representation
Concept
Process
Lesson
Normal form
ESS
Justification for NE
Some NE

Lecture 7ClassificationEvolutionary gamesRepresentationConceptProcessLessonNormal formESS Justification for NESome NE are not ESSSolve π(a)=π (b)

are not ESS
Solve π(a)=π (b)


Слайд 9 Lecture 8-9
Classification
Asymmetric information
Representation
Concept
Process
Lesson
Diverse
Information manipulation
Cheap talk may or may

Lecture 8-9ClassificationAsymmetric informationRepresentationConceptProcessLessonDiverseInformation manipulationCheap talk may or may not work Importance

not work
Importance of credibility ? costly signaling

Signaling, screening,

mechanism design

Слайд 10 Lecture 10-11
Classification
Auctions
Representation
Concept
Process
Lesson
Bid scale
Winning bid
Revenue equivalence
Winner’s curse
Optimal bid

Lecture 10-11ClassificationAuctions RepresentationConceptProcessLessonBid scaleWinning bidRevenue equivalenceWinner’s curseOptimal bid

Слайд 11 Exam

Section A: 5 compulsory questions, at most 3

ExamSection A: 5 compulsory questions, at most 3

"mathematical/analytical" questions. (10 marks each)
Section B: choose 1 long

essay style question out of 2. (50 marks)

Слайд 12 Past paper (2014-15)
6. In games of cooperation, explain how

Past paper (2014-15)6.	In games of cooperation, explain how the repetition of

the repetition of play may affect the possibilities of

cooperation compared with one-shot games. Illustrate your answer with an example.
7. Explain the purpose and the mechanism of signaling in games with incomplete information. Illustrate your answer with an example.


Слайд 13 Section A
1 conceptual question:
e.g. explain the meaning

Section A1 conceptual question: e.g. explain the meaning of mixed strategies

of mixed strategies in evolutionary game theory...
e.g. explain what

the guessing game tells us about players’ rationality...
1 definition question: 3 definitions.
e.g: A Nash equilibrium in mixed strategies, Subgame perfect equilibrium, The Winner’s curse.

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