Decision Making. Introduction. Basic concepts of Acts, Events and Outcomes and Payoffs Criteria for Decision Making Backward Induction Value of Information Summary. Basic Concepts in This chapter. Acts are decision maker’s choices.

ByStackelberg Model. Like Cournot, there are 2 firms that set quantity However, game is not simultaneous, it is sequential What does this mean? One firm, the leader, chooses quantity first The other firm, the follower, observes the leader’s quantity and then chooses quantity

ByA ntitrust Economics 2013. David S. Evans University of Chicago, Global Economics Group. Elisa Mariscal CIDE, ITAM, CPI. Topic 8: Oligopoly and game theory. Topic 8 | Part 2 6 June 2013. Date. Overview: . Oligopoly and Interdependent Behavior. Oligopoly and interdependent b ehavior.

ByEntry and exit. September 16, 2008. Some facts. Think of an industry with 100 firms doing a combined $100 million revenue in 2008 In the next 5 years, 30 to 40 new firms will enter Combined annual sales of $12 to $20 million Half will be diversified firms entering the market

ByUnit III: The Evolution of Cooperation. Can Selfishness Save the Environment? Repeated Games: the Folk Theorem Evolutionary Games A Tournament How to Promote Cooperation/Unit Review. 7/28. 4 /6. 4/14. Repeated Games. Some Questions: What happens when a game is repeated?

By17. backward induction – ultimatums and bargaining. take it or leave it offers. Two players. Split a dollar. (s,1-s) offer to 2. if accepts get (s,1-s). Otherwise zero for both. Does backward induction permit (.99, .01), (100,0). IN splitting the dollar.

ByDefending against multiple different attackers Kjell Hausken, Vicki M. Bier . Advisor: Yeong -Sung Lin Presented by I- Ju Shih. Agenda. Introduction The model Analysis of the simultaneous game Two-period game when defender moves first Two-period game when attackers move first

ByManagerial Economics: Today’s Agenda. Game Theory – Chapter 9 “Strategery” – strategic interdependence Cartels: Cooperation and Cheating Auctions Fun and Games Sequential interactions Holland Sweetener versus Monsanto, p. 245. Basic Ideas of Game Theory.

ByGame Theory: The Competitive Dynamics of Strategy. MANEC 387 Economics of Strategy. David J. Bryce. The Structure of Industries. Threat of new Entrants. Competitive Rivalry. Bargaining Power of Suppliers. Bargaining Power of Customers. Threat of Substitutes.

ByAlgorithms for solving sequential (zero-sum) games Main case in these slides: chess. Slide pack by Tuomas Sandholm. Rich history of cumulative ideas. Game-theoretic perspective. Game of perfect information Finite game Finite action sets Finite length

ByExtensive Form Games With Perfect Information (Theory). Extensive Form Games with Perfect Information. Entry Game : An incumbent faces the possibility of entry by a challenger. The challenger may enter or not. If it enters, the incumbent may either accommodate or fight. Payoff:

ByPaper Schedule Reports. 指導老師：戴天時 老師 楊曉文 老師 學生： 謝昌宏. Outline. What’s Guaranteed Minimum Withdrawal Benefit ( GMWB )? Pricing Method See Example. What’s Guaranteed Minimum Withdrawal Benefit ( GMWB )?. 1.Roll-up( 複利增值 ) 2.Ratchet( 鎖高機制 ) 3. Break even( 保本 ).

ByCurrent temp = 15 o C. Adulticiding = 3. …. same tree structure as the “do nothing” branch. Current temp = 20 o C. Do Nothing = 0. Current temp = 30 o C. Larvaciding = 2. …. same tree structure as the “do nothing” branch. Current temp = 15 o C. Larvaciding = 2. Source Reduction = 1.

ByCommon Knowledge of Rationality is Self-Contradictory. Herbert Gintis Santa Fe Institute Central European University Institute for New Economic Thinking (INET). Princeton University Press, 2009. Summary.

ByDynamic Programming. A typical infinite horizon problem. (1). (2). (Intertemporal constraint.). (3). (Initial condition.). State. xt. Control. ut. Value function. Finite time horizon example. Hamilton-Jacobi-Bellman equation. Solution Method. (1) Backward induction.

ByEconomic Concepts for Strategy. Learning Objectives: Appreciate that much of Strategy is grounded in Economic principles Enhance your ability to apply Economic and Game Theory principles to strategy formulation. Economic Costs. Costs may be sunk or avoidable

BySession 4: Topics. Strategy space, pure and mixed strategies Solution concepts Backward induction Dominance Nash equilibrium. Strategy Space. The product structure of strategies of all players S = S 1 * S 2 * S 3 * … * S k = ∏ S i S(-i) = Strategies of all player but player (i).

ByAlternating-Offers Bargaining under One-Sided Uncertainty on Deadlines. Francesco Di Giunta and Nicola Gatti Dipartimento di Elettronica e Informazione Politecnico di Milano, Milano, Italy. Summary.

ByDynamic Games & The Extensive Form. In simultaneous move games, all players move at the same time once - no player observes the others’ moves before determining his own strategy In dynamic games - players may move sequentially or move many times

ByCommon Knowledge of Rationality is Self-Contradictory. Herbert Gintis Santa Fe Institute Central European University Institute for New Economic Thinking (INET). Princeton University Press, 2009. Summary.

ByView Backward induction PowerPoint (PPT) presentations online in SlideServe. SlideServe has a very huge collection of Backward induction PowerPoint presentations. You can view or download Backward induction presentations for your school assignment or business presentation. Browse for the presentations on every topic that you want.