Game theory. (2 Viewers)

[BackCountrySnow]

Does anyone take this subject?

I've gathered that it studies the interaction between two or more competitors, but that's all I have. Can someone fill me in a bit more?

thanks guys.

 

[blue_chameleon]

Google or Wiki, because I couldnt be bothered and neither could you.

 

[BackCountrySnow]

yeah I did before.
It sounds really interestng.

How do you find it?

 

[BackCountrySnow]

when there's no more room in hell, the dead will walk the earth. LOL.

or some shit like that.

 

[BackCountrySnow]

That's a line that occurs in a coupla of their songs.

cool. you're not some scene kid are you?

 

[Cookie182]

Game theory is a general mathematical theory which has several important implications within competitive situations, particularly in comemrcial contexts but also in sociological/scientific events.

Too comlicated to really begin an explanation here...the economist/mathematician John Forbes Nash probably made the most influential discoveries within the area- ie Nash Equilbria which is briefly used as a background in the film "A Beautiful Mind".

 

[blakegman]

You learn Nash equilibriam in intro micro anyway.

 

[danielvh]

Yeah, Game Theory is one of my favourite areas within my degree (Economics/Commerce). Have a read about it on Wikipedia: http://en.wikipedia.org/wiki/Game_theory

Next semester I'll be on exchange at the University of Bristol and will take a unit devoted entirely to Game Theory and taught by one the world's top game theory experts: Ken Binmore (as an example: he was the lead designer of the 3G auctions in the UK, Denmark, Israel and other countries - not New Zeland though lol). I'm looking forward to it.

 

[seremify007]

When I first learnt about it in Micro, couldn't help myself from reading the Wikipedia article. Very interesting.

 

[BackCountrySnow]

So how strong do you have to be in maths?
I'm an average-ish 3 unit student. But I do really well in 2u...

 

[BackCountrySnow]

Too comlicated to really begin an explanation here...the economist/mathematician John Forbes Nash probably made the most influential discoveries within the area- ie Nash Equilbria which is briefly used as a background in the film "A Beautiful Mind".

Yeah, I really like that movie.

 

[BackCountrySnow]

So is game theory part of micro, macro or metrics in the first year?

 

[pLuvia]

So is game theory part of micro, macro or metrics in the first year?

You learn it in the 1st year level of microeconomics

 

[danielvh]

You learn it in the 1st year level of microeconomics

Yes, but probably only very very superficially. Well, at least it was at UWA. We went through the prisoner's dilemma example, finding the Nash equilibrium in the normal form and what the lecturer called, the 'tit for tat' theory. Didn't even get into the extensive form. I think all of about 2 lectures covered it in first year.

 

[seremify007]

Yes, but probably only very very superficially. Well, at least it was at UWA. We went through the prisoner's dilemma example, finding the Nash equilibrium in the normal form and what the lecturer called, the 'tit for tat' theory. Didn't even get into the extensive form. I think all of about 2 lectures covered it in first year.

Same for UNSW. Wikipedia is much more detailed.

 

[BackCountrySnow]

so what do you do if you want to go further with game theory?
is it an elective?

 

[Cookie182]

Yes, but probably only very very superficially. Well, at least it was at UWA. We went through the prisoner's dilemma example, finding the Nash equilibrium in the normal form and what the lecturer called, the 'tit for tat' theory. Didn't even get into the extensive form. I think all of about 2 lectures covered it in first year.

yea we had a tiny chapter dedicated too it- basically just used it in duopoly context to work out dominant/dominated strategies, quickly looked at PD and repeated games suh as 'Tit for Tat' and then basically looked at incentive problems. Overall, extremely basic and limited mathematically- since im not doing a maths degree (comm/law) i dont think ill get to touch it in the detail i would want (using probability/stochastic calculus), but oh well life goes on...

 

[danielvh]

so what do you do if you want to go further with game theory?
is it an elective?

Well, that's a tough one. Most unis in Australia don't seem to offer it in depth at an undergrad level. Look out for options such as Business Economics or Managerial Economics. They'll touch on it. As will the core microeconomics units. I just finished 2nd year micro at UWA and again it was only just touched on unfortunately. Hopefully, third year micro will cover it in greater depth but I'm not too hopeful.

At an honours level or masters/PHD level you can specialise in it if you want. Also, exchange to a uni that covers it in greater depth is also an option. (Like I'm doing with the University of Bristol).

 

[BackCountrySnow]

mm yeah, apparently Game theory isn't too big here in Aus.

 

[blakegman]

Not 100% sure but i thought i remember seeing it as an elective at USYD.