What Are the Prerequisites for Understanding Game Theory?

In summary, this course covers the theory of games and its applications in economics, with a focus on game trees, backward induction, different forms of games, Nash equilibrium, and strategies. It also touches on topics such as commitment, zero sum games, and multistage bargaining if time permits. Some basic knowledge of probability theory, linear algebra, and linear programming is recommended. For additional resources, free texts on these topics are available online.
  • #1
woundedtiger4
188
0
any prerequisites to cover the following Course content:

The courses examines the theory of games and its applications in economics: Game trees with perfect information, NIM, combinatorial games. Backward induction. Extensive and strategic (normal) form of a game. Nash equilibrium. Commitment. Zero sum games, mixed strategies. Maxmin strategies. Nash equilibria in mixed strategies. Finding mixed-strategy equilibria for two-person games. Extensive games with information sets, behaviour strategies, perfect recall. If time permits: The Nash bargaining solution. Multistage bargaining.

ps. any good text on it?
 
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  • #2
Sounds similar to a class that I've taken actually. I didn't really see too much advanced prerequisites. Maybe some basic probability theory and solid knowledge of linear algebra. If you can get some understanding of linear programming, that's good too.
Here are some relevant free texts:
http://www.math.ucla.edu/~tom/LP.pdf
http://www.math.ucla.edu/~tom/Game_Theory/Contents.html
 

What is game theory?

Game theory is a branch of mathematics that studies how individuals and groups make decisions in strategic situations. It involves analyzing the choices and behaviors of players in order to predict the outcomes of various scenarios.

What are the main prerequisites for studying game theory?

The main prerequisites for studying game theory include a strong foundation in mathematics, particularly in algebra and calculus. Knowledge of probability and statistics is also important, as well as an understanding of basic economic concepts.

What are some applications of game theory?

Game theory has a wide range of applications in various fields, including economics, political science, psychology, and biology. It is used to analyze decision-making in competitive situations, such as auctions, negotiations, and business strategies.

What are some key concepts in game theory?

Some key concepts in game theory include equilibrium, dominance, and payoffs. Equilibrium refers to a state where no player can improve their outcome by changing their strategy, dominance occurs when one strategy is always preferred over another, and payoffs represent the rewards or outcomes of different strategies.

What are some limitations of game theory?

One limitation of game theory is that it assumes all players are rational and have full information, which may not always be the case in real-world situations. It also does not take into account emotions or other psychological factors that may influence decision-making. Additionally, it can be difficult to accurately model complex real-world situations using game theory.

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