Game Theory and Economics

IIT Guwahati Course , Prof. Debarshi Das

Lecture 1: Definition of Game Theory and Rational Choice

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Lecture Details :

Game Theory and Economics by Dr. Debarshi Das, Department of Humanities and Social Sciences, IIT Guwahati. For more details on NPTEL visit

Course Description :

Introduction to Game Theory :
What is game theory? - Theory of rational choice - Interacting decision makers

Strategic Games and Nash Equilibrium : Strategic games: examples - Nash equilibrium: concept and examples - Best response functions - Dominated Actions - Symmetric games and symmetric equilibria

Illustrations of Nash Equilibrium : Cournots model of duopoly market - Bertrands model of duopoly market - Electoral Competition - War of Attrition - Auctions - Accident Laws
Mixed Strategy Nash Equilibrium : Introduction - Strategic games with randomisation - Mixed strategy Nash equilibrium: concept and examples - Dominated Actions - Formation of Players beliefs

Extensive Games and Nash Equilibrium : Introduction to extensive games - Strategies and outcomes - Nash equilibrium - Subgame perfect Nash equilibrium - Backward induction
Illustrations of Extensive Games and Nash Equilibrium : Stackelberg model of duopoly markets - Ultimatum game

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