ECO 350 Probability and Game Theory

3 Credit(s) DIII Q

Probability is the study of uncertainty using mathematics. Game theory is the use of mathematical models to analyze strategic choice. This course attempts to merge the two in a comprehensive integration of the two fields. Basic topics that will be covered include extensive and normal form games, the Nash equilibrium, dominant and mixed strategies and probability. Advanced topics will include utility and risk, brinkmanship, auctions, elementary calculus, and the theory of moves. Games will be analyzed with and without complete information, in both a static and dynamic context. This course is highly influenced by the field of economics and will include many economic examples of game theory in practice. Other examples will draw from psychology, sociology, history and politics. Three lecture hours per week. Prerequisites: MAT 108 and either ECO 201 or ECO 202.