NOTE: On the“ ethics” of problem sets Some of the theoretical exercise I will assign are actually well-known results; in other cases you may be able to find the answer in the literature. This is certainly the case for the current My position on this issue is that, basically, if you look up the answer somewhere it's your problem. After all, you can buy answer keys to most textbooks. The fact is, you will not have access to such, ehm, supporting material when you take your generals, or, in a more

Introduction Signaling games are used to model the following situation: Player 1, the Sender, receives some private information and sends a message m E M to Player 2, the Receiver. The latter, in turn, observes m but not 0, and chooses response r E R. Players'payoffs depend on 0, m and r. What could be simpler? Yet, there is a huge number of economically interesting games that fit nicely within this framework: Spence's job market signaling model is the leading example, but applications abound in IO (limit pricing, disclosure...) finance (security design) and political economics

Introduction These notes essentially tie up a few loose ends in Lecture 8; in particular, I exhibit examples of inefficiencies in first- and second-price auctions. I would also like to briefly comment on Questions 1 and 2 in Problem Set 2 The first-price auction may be inefficient even with private values Both examples I am going to show are due to Eric Maskin(to the best of my knowledge) The first point I wish to make is that, even in a private-values setting, asymmetries may

Introduction This lecture presents the two main contributions of \interactive epistemology\to thethe- ory of normal-form games: a characterization of Nash equilibrium beliefs, and a full (i.e behavioral) characterization of rationalizability a review of the basic definitions For your convenience, I summarize the essential definitions pertaining to models of interactive

Introduction This lecture continues our analysis of games with payoff uncertainty. The three main objec- tives are: (1) to illustrate the flexibility of the Harsanyi framework (or our version thereof); (2)to highlight the assumptions implicit in the conventional usage of the framework, and the possible departures; (3) to discuss its potential problems, as well as some solutions to the latter

Introduction [Again, by and large, I will follow OR, Chap. 8, so I will keep these notes to a minimum. Review of key definitions Recall our three payoff aggregation criteria: discounting, i.e (u2)≥1>(2 (also recall that the payoff profile corresponding to a stream (ut)is taken to be(1 8)2t18t-u(a)); limit of means

Introduction The purpose of this lecture is to help you familiarize with the workings of sequential equi- librium and \sequential equilibrium lite, i.e. perfect Bayesian equilibrium. The main focus is the \reputation\ result of Kreps and Wilson(1982). You should refer to OR for details and definitions: I am following the textbook quite closely. of the game in which an incumbent faces a sequence of K (potential) entrants. It is clear that, in the subgame in which the last entrant gets a chance to play, the incumbent will

◼ Dynamic games of complete information ◼ Extensive-form representation ◼ Dynamic games of complete and perfect information ◼ Game tree ◼ Subgame-perfect Nash equilibrium ◼ Backward induction ◼ Applications ◼ Dynamic games of complete and imperfect information ◼ More applications ◼ Repeated games

◼ Dynamic games of complete information ◼ Extensive-form representation ◼ Dynamic games of complete and perfect information ◼ Game tree ◼ Subgame-perfect Nash equilibrium ◼ Backward induction ◼ Applications ◼ Dynamic games of complete and imperfect information ◼ More applications ◼ Repeated games

第一节 前言 一、公共经济学的起源 二、中国日益严重的公共问题 第二节 公共经济学的方法论基础 一、实证分析与规范分析 二、归纳法与演绎法 三、博弈论方法 四、成本与收益分析法 第三节 公共经济学的理论基础 一、公共经济的理论架构 二、从个人主义向集体主义转变 三、公平与效率原理四、边际革命 四、帕累托原理六、委托与代理理论