I am a biologist by degree along with other specialties, but, this is important to me to keep current. This used to be called Zero Sum Game. Remember Clinton's book? Yep. Game Theory is the next step, sorta. But, President Clinton's book was more about peace than just picking winners.The Dayton Accords I believe.
Lloyd Shapley raises his arm after being notified of winning the 2012 economics Noble prize. Photo: Reuters
Lloyd Shapley raises his arm after being notified of winning the 2012 economics Noble prize. Photo: Reuters
October 16, 2012 - 10:09AM
Michael Feller
Rational markets (click here) can be efficiently designed, most economists will concur. And by using complex algorithms and models, efficient markets can become ever more rational.
That was essentially the premise behind awarding this year's Nobel prize in economics – the Sveriges Riksbank prize – to two American luminaries of game theory, Alvin Roth and Lloyd Shapley.
Designing systems to efficiently match students with schools, organs with recipients and husbands with wives, among other things, Roth Shapley have independently advanced the science of co-operative game theory to improve markets and keep pushing out the "efficient frontier"....
It makes a difference whom the professor is.
About the Course
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 , and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere.
