Game Theory (ECON 159) We first consider the alternative model "Bertrand" imperfect competition between the two companies in which firms set prices rather than setting levels. Then we consider a richer model, where companies set prices yet, but the goods they produce are not identical. We model the firm as a business, which at each end of a long journey or online. Customers living along this line. Then we have the models of strategic policies which returns the voters that are scattered along aline. But this time do not allow candidates to choose its position: you can only choose whether to give the election. We play the "candidate-voter-game" in class, and we begin to analyze both as a lesson on the concept of balance and a lesson in politics. 00:00 - Chapter 1 Bertrand duopoly: 28:18 Standard Model - Chapter 2 Bertrand duopoly: 40:13 Product differentiation - Chapter 3 The perfect competition Revisited: The Candidate voter education materials for the complete modelThe courses open Yale are listed on the website: open.yale.edu This course has been launched in the autumn of 2007.
Keywords: Bertrand, Competition, best, response, Cournot, differentiated, products, Game, Theory, monopoly, perfect, Strategic, behavior, voting
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