AØKA08076U Game Theory (F)
Elective at MSc in Economics
The course is part of the Financial line symbolized by "F".
This is a mathematically oriented course of game theory.
The course covers the standard parts of game theory, focusing mainly on non-cooperative games. The course starts with the expected utility theorem. For non-cooperative games, the teaching covers the most important solution concepts for strategic and extensive form games as well as some refinements of those solution concepts (rationalizability, Nash equilibrium, correlated equilibrium, perfect equilibrium, sequential equilibrium). The Aumann model of knowledge is presented. Also, the theory of games under uncertainty is discussed, leading to the extension of the solution concepts previously encountered. Furthermore, we study specific classes of games (supermodular games and global games) that are often used in economic theory. Finally, we illustrate a more axiomatic approach by discussing the basics of social choice theory. If there is time and interest, the implementation problem will be introduced.
We will formally show under which assumptions the covered solution concepts exist and derive certain properties. We will then illustrate and apply the solution concepts in examples and exercises. A detailed lecture schedule will be published on Absalon at the start of the term.
The course aims at giving the students the abilities and competences needed to understand and assess the fundamental aspects of strategic decision making by rational individuals where the framework for decision making specifies the actions open to the individuals as well as their objectives and the information available. The methodological goal of the course is to get students more accustomed to formal notation and proofs. In terms of content, students should be able to determine which of the covered concepts is relevant in a given strategic situation (e.g. a fully specified game). Student should then be able to apply the appropriate (solution) concept in this situation. Students should be able to explain the concepts covered in the course using appropriate definitions and examples.
main textbooks:
- Martin J. Osborne and Ariel Rubinstein: “A Course in Game Theory”, MIT Press, 1994 (note that an electronic version of the book is available for free from the websites of the authors);
- M. Maschler, E. Solan and S. Zamir: “Game Theory”, Cambridge University Press, 2013
the text books will be supplemented by some papers; the following is a tentative list of papers that might be covered
- Aumann 1985: What is game theory trying to accomplish?; Frontiers of Economics
- Carlson and van Damme “Global Games and Equilibrium Selection”, Econometrica, Vol. 61, No. 5 (Sep., 1993), pp. 989-1018
- Morris and Shin “Global Games: Theory and Applications”, Econometric Society Monographs 35, 2003, 56-114 - Cambridge University Press
- Milgrom and Roberts “Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities”, Econometrica, Vol. 58, No. 6. (Nov., 1990), pp. 1255-1277
Other useful sources:
- Drew Fudenberg and Jean Tirole: “Game Theory”, MIT Press, 1991
- Mas Colell, Whinston , Greene: “Microeconomic Theory”, Oxford University Press, 1995
The course consists of 3 hours of classes (lectures) every week for 14 weeks.
For enrolled students please find more information of courses, schedule, rules etc at
https://intranet.ku.dk/economics_ma/courses/Pages/default.aspx
Timetable and classroom:
For time and classroom please press the link under "Se skema" (See schedule) at the right side of this page (15E means 2015 Efterår (Autumn))
- Category
- Hours
- Exam
- 0,7
- Lectures
- 42
- Preparation
- 160,3
- Theory exercises
- 3
- Total
- 206,0
- Credit
- 7,5 ECTS
- Type of assessment
- Oral examination, 20 min under invigilation20 minuts oral exam with 20 minuts preparation without aids
- Exam registration requirements
One written take home assignment must be approved for students to be able to take the exam.
- Aid
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
100 % censorship
- Exam period
14. December 2015 to 29. January 2016
The exact date for the oral exam will be updated during the semester
For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English) and student intranet for Examination (KA-Danish).
- Re-exam
Same as the ordinary exam.
Criteria for exam assesment
The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.
Course information
- Language
- English
- Course code
- AØKA08076U
- Credit
- 7,5 ECTS
- Level
- Full Degree Master
- Duration
- 1 semester
- Placement
- Autumn
- Schedule
- Autumn (week 36-50)
- Continuing and further education
- Price
320 DKK per ECTS
- Study board
- Department of Economics, Study Council
Contracting department
- Department of Economics
Course responsibles
- Christoph Schottmüller (22-6e737d747e7f7a7b73397e6e737a7f7f78807777707d4b706e7a79397680396f76)