Universität Wien
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040106 UK UK Decision and Game Theory (BA) (2021S)

12.00 ECTS (6.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work
REMOTE
Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 120 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

  • Monday 01.03. 13:15 - 14:45 Digital
  • Tuesday 02.03. 15:00 - 16:30 Digital
  • Thursday 04.03. 18:30 - 20:00 Digital
  • Friday 05.03. 13:15 - 14:45 Digital
  • Monday 08.03. 13:15 - 14:45 Digital
  • Tuesday 09.03. 15:00 - 16:30 Digital
  • Thursday 11.03. 18:30 - 20:00 Digital
  • Monday 15.03. 13:15 - 14:45 Digital
  • Tuesday 16.03. 15:00 - 16:30 Digital
  • Thursday 18.03. 18:30 - 20:00 Digital
  • Friday 19.03. 13:15 - 14:45 Digital
  • Monday 22.03. 13:15 - 14:45 Digital
  • Tuesday 23.03. 15:00 - 16:30 Digital
  • Thursday 25.03. 18:30 - 20:00 Digital
  • Friday 26.03. 13:15 - 14:45 Digital
  • Monday 12.04. 13:15 - 14:45 Digital
  • Tuesday 13.04. 15:00 - 16:30 Digital
  • Thursday 15.04. 18:30 - 20:00 Digital
  • Friday 16.04. 13:15 - 14:45 Digital
  • Monday 19.04. 13:15 - 14:45 Digital
  • Tuesday 20.04. 15:00 - 16:30 Digital
  • Thursday 22.04. 18:30 - 20:00 Digital
  • Friday 23.04. 13:15 - 14:45 Digital
  • Monday 26.04. 13:15 - 14:45 Digital
  • Tuesday 27.04. 15:00 - 16:30 Digital
  • Thursday 29.04. 18:30 - 20:00 Digital
  • Friday 30.04. 13:15 - 14:45 Digital
  • Monday 03.05. 13:15 - 14:45 Digital
  • Tuesday 04.05. 15:00 - 16:30 Digital
  • Thursday 06.05. 18:30 - 20:00 Digital
  • Friday 07.05. 13:15 - 14:45 Digital
  • Monday 10.05. 13:15 - 14:45 Digital
  • Tuesday 11.05. 15:00 - 16:30 Digital
  • Friday 14.05. 13:15 - 14:45 Digital
  • Monday 17.05. 13:15 - 14:45 Digital
  • Tuesday 18.05. 15:00 - 16:30 Digital
  • Thursday 20.05. 18:30 - 20:00 Digital
  • Friday 21.05. 13:15 - 14:45 Digital
  • Thursday 27.05. 18:30 - 20:00 Digital
  • Friday 28.05. 13:15 - 14:45 Digital
  • Monday 31.05. 13:15 - 14:45 Digital
  • Tuesday 01.06. 15:00 - 16:30 Digital
  • Friday 04.06. 13:15 - 14:45 Digital
  • Monday 07.06. 13:15 - 14:45 Digital
  • Tuesday 08.06. 15:00 - 16:30 Digital
  • Thursday 10.06. 18:30 - 20:00 Digital
  • Friday 11.06. 13:15 - 14:45 Digital
  • Monday 14.06. 13:15 - 14:45 Digital
  • Tuesday 15.06. 15:00 - 16:30 Digital
  • Thursday 17.06. 18:30 - 20:00 Digital
  • Friday 18.06. 13:15 - 14:45 Digital
  • Monday 21.06. 13:15 - 14:45 Digital
  • Tuesday 22.06. 15:00 - 16:30 Digital
  • Thursday 24.06. 18:30 - 20:00 Digital
  • Friday 25.06. 13:15 - 14:45 Digital
  • Monday 28.06. 13:15 - 14:45 Digital
  • Tuesday 29.06. 15:00 - 16:30 Digital

Information

Aims, contents and method of the course

FORMAT: all teaching will take place remotely. There will be live lectures which students should attend so they can participate actively, and live tutorials to discuss the problem sets.

Lectures are on Monday 13.15-14.45 and Tuesday 15.00 – 16.30 on Blackboard Collaborate (link on Moodle).

Tutorials are on Thursday 18.30-20.00 and Friday 13.15 – 14.45.

Lectures and tutorials will be recorded. There will be problem sets to be submitted every week on Moodle and that will count towards your final grade. All official communication on the course will be done via email or Moodle.

CONTENT: This course builds upon and extends the required second-year microeconomics course (040102 UK). It goes beyond the study of simple choices by consumers and firms by exploring how economic agents make decisions in more complex environments.

In decision theory we will study the behaviour of individual agents facing uncertainty. For instance, investors need to choose how to invest when they don't know whether stock markets will produce positive or negative returns, firms need to decide how much quantity to produce when they don't know whether a recession is coming or not.

Game theory studies the behaviour of agents who interact with other agents. For example, firms decide whether to enter a new market by anticipating how their competitors will react. Workers decide how to cooperate with others by anticipating how this will affect their reputations.

All theoretical concepts will be discussed in the context of many different applications.

Assessment and permitted materials

There will be one midterm exam and one final exam, which account for 40% and 50% of the grade, respectively. The remaining 10% is obtained by handing in problem sets. Students wishing to do so will be offered a re-take final exam. Note that in case a retake is requested the grade on the final exam will be cancelled and replaced by the grade on the retake exam. As a result, a retake can result in the final grade going either up or down.

Minimum requirements and assessment criteria

Students are required to have taken Microeconomics for Student of Economics.

Examination topics

Week 1: Introduction to game theory: questions and concepts.

Week 2: Decisions under Uncertainty

Week 3: Static games 1: strategies, best responses, Nash equilibrium

Week 4: Static games 2: Mixed strategy Nash equilibrium, dominated strategies

EASTER BREAK

Week 5: Dynamic games 1: Subgame perfect equilibrium, credible and non-credible threats

Week 6: Dynamic games 2: commitment, pre-emption, first mover advantage

Week 7: Dynamic games 3: finitely and infinitely repeated games

Week 8: Midterm Exam (3 May 2021)

Week 9: Bayesian games

Week 10: Dynamic Bayesian games 1: moral hazard

Week 11: Dynamic Bayesian games 2: adverse selection

Week 12: Dynamic Bayesian games 3: signaling

Week 13: Dynamic Bayesian games 4: signaling and communication

Week 14: Final Exam (28 June 2021)

Reading list

The main reference for the course material should always be the lecture notes (available on Moodle). However, if students would like to supplement lectures with additional material, the recommended textbook is: An introduction to game theory, by Martin Osborne. Another useful reference (especially for the second part of the course) is Games and Information: An Introduction to Game Theory, by Eric Rasmusen. Both books are available in the library, so there is no need to purchase them.

Association in the course directory

Last modified: Fr 12.05.2023 00:12