Game theory is the study of multiperson decision problems where there is a strategic conflict. That is, where participants are aware that the result or payoff they obtain depends not only on their own decisions but also on the decisions of other participants. Society in general, and the economy in particular, is plenty of these strategic interactions.
The first part of the course (Game Theory) covers the equilibria of strategic games with complete and incomplete information, sequential games with complete information, bargaining and
repeated games. Sequential games with incomplete information close the first part of the course.

In the second part (Economics of Information), the course studies canonical models of adverse selection and moral hazard. More specifically, we will look at how to design optimal contracts in the presence of asymmetric information. Contract theory is an important branch of applied microeconomic theory, and its tools are increasingly being used in labour and development economics, as well as industrial organisation.
Thus, the course is of potential interest to those outside pure microeconomic theory
Tipo: 2023-24
Castellano: 2023-24 Teoría de Juegos y Economía de la Información Gr.PT (44958)
Inglés: 2023-24 Game Theory and Economics of Information Gr.PT (44958)