Teaching summer semester 2020

(Please scroll down if you are looking for Game Theory)

 

Please note: You will have the opportunity to ask questions. I am still figuring out what the suitable technical solution is.

Behavioral Economics Milestones

As long as necessary, I will record this course on video. In addition to the videos, additional course material will be published here.

Part I:

Video lecture - Slides without video

Christian Arnsperger & Yanis Varoufakis: "What Is Neoclassical Economics? The three axioms responsible for its theoretical oeuvre, practical irrelevance and, thus, discursive power", Panoeconomicus 53 (2006), 5-18 (see especially 6-10).

Part II:

II.1 Jeremy Bentham

Video lecture - Slides without video

A good paper on Bentham's economics is W. Stark (1941), Jeremy Bentham as an Economist, The Economic Journal 51, No. 201, 56-79 (available here). And here is a nice short movie on the trolley problem.

II.2 Adam Smith

Video lecture 1. Video lecture 2.

Slides 1. Slides 2.

Please read the paper "Adam Smith, Behavioral Economist" by Nava Ashraf, Colin F. Camerer and George Loewenstein (2005). Here is a good blog post on the Niederle and Vesterlund (2007) paper.

II.3 Keynes

Video lecture 1. Video lecture 2  

Slides 1. Slides 2.

Here (alternatively here) is a short op-ed column by Robert J. Shiller on the original (Keynesian) beauty contest. This is a video on the application of the Keynesian beauty contest to financial markets. This is a video on the game theoretic solution of the beauty contest (with integers ≥ 1 !!).

II.4 Duesenberry

Video lecture. Slides     

You can find the link to the Janis Joplin here.

II.5 Gary Becker

Video lecture. Slides 

Gary S. Becker (1962), Irrational Behavior and Economic Theory, Journal of Political Economy 70, 1-13 (esp. 1-7). Here is an alternative link; this is a German translation (focus on pp. 167-177).

III.1 Discrimination

Video lecture.   Slides  

Video lecture part 2.   Slides part 2    

III.3 Decisions under risk

Video lecture part 1. Slides part 1.

Video lecture part 2. Slides part 2.

The Friedman&Savage (1948) paper is available for download here. The important pages for us are pp 289-291 and 294-295. This is the textbook chapter I mentioned. Here is more on the St. Petersburg Paradox. 

For one of the upcoming videos, here is a nice textbook chapter on the ultimatum game.

Important info here!

 

 

Introduction to Game Theory

As long as necessary, I will record this course on video. In addition to the videos, additional course material will be published here.

Chapter 1: Introduction

Video lecture - Slides without video

Chapter 2: Solution concepts for static games: Dominant strategies and maximin

Video lecture I - Video lecture II - Slides without video I - Slides without video II

New: Here is a reprint of Tucker's original note on the prisoners' dilemma.

Chapter 3: Solution concepts for static games: Nash equilibrium

Video lecture -   Slides without video     

Here is an excerpt from the original chapter on the speed limit example.

Chapter 4: Sequential Games

Video lecture - Slides without video

(Try to solve this puzzle before watching.)

Chapter 5: Evolutionary Game Theory

Video lecture - new: Same video lecture with correction on slide 9
- new: Solution to cowpat question - Slides without video

A first set of exercises - and here are the solutions; the solution to the travellers' dilemma game is here, nice reading.

Chapter 6: Continuous Strategies

Video lecture - Slides without video         

Chapter 7: Repeated Games  

Video lecture - Slides without video    

Chapter 8: Negotiations

Video lecture - Slides without video   

Please take this survey! (Explained in a video of 12 minutes only.)   

The game theory scene from A Beautiful Mind is on YouTube, here in English, here in German. Here is a video explaining why the movie is imprecise from a game theoretic point of view (please note that the video is incorrect itself in claiming that John Nash was the inventor of game theory).

 

 

Important info here!