A specialist in microeconomic theory and economic history, he has published in Ben Polak, Professor of Economics and Management This course is an introduction to game theory and strategic thinking. We will use calculus (mostly one variable) in this course. Intermediate micro (150/2) is not required, but it is recommended. Some may prefer to take the course next academic year once they have more background. 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. We will also refer to ideas like probability and expectation.
Adjusting for differences in coupon rates and values of embedded deflation options, the results show a small, positive premium on recently issued TIPS that persists after new similar TIPS are issued and hence is different from the on-the-run phenomenon observed in the Treasury market.Comparative advantage refers to the ability to produce goods and services at a lower opportunity cost, not necessarily at a greater volume.To see the difference, consider an attorney and her secretary.View class sessions » This Yale College course, taught on campus twice per week for 75 minutes, was recorded for Open Yale Courses in Fall 2007. One aim of the course is to teach you some strategic considerations to take into account making your choices.Download all course pages [zip - 10MB]Video and audio elements from this course are also available on: Ben Polak is Professor of Economics and Management in the Department of Economics and the School of Management at Yale University. A second aim is to predict how other people or organizations behave when they are in strategic settings. We will learn new concepts, methods and terminology. Most of the reading for this course comes from the first ten chapters of Dutta or from the first two parts of Watson. The readings are not compulsory, but they will help back up the class material.