A Digital Library for Microeconomics Education

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Useful concepts in Game Theory

In this section we provide several discussions of Non-cooperative Game Theory.

  • The concept of Equilibrium and some solution concepts - motivates the concept of equilibrium. Different solution methods for reaching an equilibrium, like Nash Equilibrium. Backward Induction, etc are also covered in this section.

  • The common Mistakes in Game Theory - Some typical mistakes that one runs into while learning the theory

  • The difference between Complete and Incomplete Information

  • The difference between Simultaneous and Dynamic Games

  • Extensive Form Games

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