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Lecture 4 - Best responses in soccer and business partnerships

This video was recorded at ECON 159 - Game Theory. We continue the idea (from last time) of playing a best response to what we believe others will do. More particularly, we develop the idea that you should not play a strategy that is not a best response for any belief about others' choices. We use this idea to analyze taking a penalty kick in soccer. Then we use it to analyze a profit-sharing partnership. Toward the end, we introduce a new notion: Nash Equilibrium. Reading assignment: Strategies and Games: Theory And Practice. (Dutta): Chapter 5 Strategy: An Introduction to Game Theory. (Watson): Chapters 6-9 Thinking Strategically. (Dixit and Nalebuff): Chapter 3, Sections 4-6 Resources: Blackboard Notes Lecture 4[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
Creative Commons:: This work is licensed under a Attribution-NonCommercial-NoDerivs 3.0 United States