Game Theory: Solution Concept

Game Theory: Solution Concept

In game theory, a solution concept is a model or rule for predicting how a game will be played. These predictions are called "solutions", and describe which strategies will be adopted by players and, therefore, the result of the game. The most commonly used solution concepts are equilibrium concepts.

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Introduction, overview, uses of game theory, some applications and examples, and formal definitions of: the normal form, payoffs, strategies, pure strategy Nash equilibrium, dominant strategies.

This course is an introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.

You can find complete course here: https://www.youtube.com/watch?v=N3ViZYuDsVM&list=PLERuqH6mOSZQc1tWaS6FMEqWSdb613lMv

Courtesy: Systems Innovation Usage: Usage: Public Domain (https://creativecommons.org/licenses/publicdomain/)

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