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Game theory basics
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Module 6
Static Games of Incomplete Information
1
Incomplete vs. Imperfect Information
Distinguish between incomplete and imperfect information.
2
Elements of Bayesian Games
Define the components of a Bayesian game: types, beliefs, and state-dependent payoffs.
3
Understanding Bayesian Nash Equilibrium
Define Bayesian Nash Equilibrium (BNE) as an extension of Nash Equilibrium.
4
Expected Utility in Bayesian Games
Formulate the expected utility calculation for a player's type in a Bayesian game.
5
Bayesian Nash Equilibrium in 2x2 Games with One-Sided Incomplete Information
Compute the Bayesian Nash Equilibrium for a 2x2 game with one-sided incomplete information.
6
Adverse Selection vs. Moral Hazard
Distinguish between adverse selection (hidden information) and moral hazard (hidden action) using examples.
Previous module
Repeated Games and the Emergence of Cooperation
Next module
Applications: Auctions and Bidding Strategy