Yale Open Courses ECON 159: Game Theory

Introduction: Five First Lessons


Listen Later

We introduce Game Theory by playing a game. We organize the game into players, their strategies, and their goals or payoffs; and we learn that we should decide what our goals are before we make choices. With some plausible payoffs, our game is a prisoners’ dilemma. We learn that we should never choose a dominated strategy; but that rational play by rational players can lead to bad outcomes. We discuss some prisoners’ dilemmas in the real world and some possible real-world remedies. With other plausible payoffs, our game is a coordination problem and has very different outcomes: so different payoffs matter. We often need to think, not only about our own payoffs, but also others’ payoffs. We should put ourselves in others’ shoes and try to predict what they will do. This is the essence of strategic thinking.
...more
View all episodesView all episodes
Download on the App Store

Yale Open Courses ECON 159: Game TheoryBy William Sheppard

  • 4.2
  • 4.2
  • 4.2
  • 4.2
  • 4.2

4.2

17 ratings


More shows like Yale Open Courses ECON 159: Game Theory

View all
Freakonomics Radio by Freakonomics Radio + Stitcher

Freakonomics Radio

32,131 Listeners

Hidden Brain by Hidden Brain, Shankar Vedantam

Hidden Brain

43,691 Listeners

The Bill Simmons Podcast by The Ringer

The Bill Simmons Podcast

30,229 Listeners

Odd Lots by Bloomberg

Odd Lots

1,874 Listeners

In Our Time by BBC Radio 4

In Our Time

5,428 Listeners

Conversations with Tyler by Mercatus Center at George Mason University

Conversations with Tyler

2,419 Listeners

Founders by David Senra

Founders

2,110 Listeners

The Daily by The New York Times

The Daily

112,427 Listeners

The Diary Of A CEO with Steven Bartlett by DOAC

The Diary Of A CEO with Steven Bartlett

8,716 Listeners

Today, Explained by Vox

Today, Explained

10,230 Listeners

Short Wave by NPR

Short Wave

6,420 Listeners

All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

All-In with Chamath, Jason, Sacks & Friedberg

9,900 Listeners

People I (Mostly) Admire by Freakonomics Radio + Stitcher

People I (Mostly) Admire

2,095 Listeners

Hard Fork by The New York Times

Hard Fork

5,470 Listeners

Huberman Lab by Scicomm Media

Huberman Lab

29,212 Listeners