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40106-01 - Vorlesung: Game Theory and Theory of the Firm (6 KP)
| Semester | Frühjahrsemester 2017 |
| Angebotsmuster | Jedes Frühjahrsem. |
| Dozierende |
Dragan Ilic (dragan.ilic@unibas.ch, BeurteilerIn)
Catherine Roux (catherine.roux@unibas.ch) |
| Inhalt | Content part: Game Theory: The courses will be divided into lecture hours and exercise hours. Exercise sets will be available after every lecture hour and will be partly solved together in class. Block 1: Static games of complete information: • Introduction, normal form, best response, dominant strategies, iterated elimination, Nash equilibrium • Mixed Strategies • Proof of Existence, multiple equilibria, refinements Block 2: Dynamic games of complete information: • Extensive form, backwards induction • Subgame perfection, repeated games • Infinitely repeated games, bilateral bargaining Block 3: Static games of incomplete information: • Bayesian games, Bayesian Nash Equilibrium • First-price auction, double auction Block 4: Dynamic games of complete and incomplete information: • Purification of mixed strategies, Perfect Bayesian Equilibrium • Signaling games Content Part: Theory of the Firm: Markets and Prices as Coordination and Incentive Devices • Transaction Costs • Team Production • Asymmetric Information • Principal-Agent Theory • Signaling • Efficiency Wages |
| Lernziele | Learning Goals: Game Theory: As Gibbons (1992, xi) puts it: “Game Theory is the study of multiperson decision problems. Such problems arise frequently in economics. As is widely appreciated, for example, oligopolies present multiperson problems – each firm must consider what the others will do. But many other applications of game theory arise in fields of economics other than industrial organization. At the micro level, models of trading processes (such as bargaining and auction models) involve game theory. At the intermediate level of aggregation, labor and financial economics include game-theoretic models of the behavior of a firm in its input markets (rather than its output market, as in an oligopoly). There are also multiperson problems within a firm: many workers may vie for one promotion; several divisions may compete for the corporation’s investment capital. Finally, at a high level of aggregation, international economics includes models in which countries compete (or collude) in choosing tariffs and other trade policies, and macroeconomics includes models in which monetary authority and wage or price setters interact strategically to determine the effects of monetary policy.” This course will introduce students to the main concepts and techniques of game-theoretic analysis. At its core lies the understanding of strategic interactions between deciding agents. The students will appreciate how to apply game-theoretic analysis to strategic settings. Theory of the Firm: Why do firms exist? Why are firms organized the way they are? Traditional economic models leave little room for firms or other organizations as they focus on market exchange between individuals. This course will introduce students to microeconomic models that try to explain the existence and structure of firms as we observe them in the real world. Economics brings a rigorous approach that is grounded in theory. The course will provide a basic understanding of economic approaches to modeling and understanding aspects of firms, their structure, the behavior they create, and how they differ from market interaction. About half of the course will be based on the standard textbook by Milgrom and Roberts, the other half will consist of influential articles on the economics of organizations, by authors such as Coase, Williamson, Hart, and Tirole. |
| Literatur | Literatur part: Game Theory: The teaching program follows Robert Gibbon’s book “Game Theory for Applied Economists”, also known as “A Primer in Game Theory,” (Princeton University Press, 1992). Slides for each lecture are uploaded to ADAM in advance. Literatur part: Theory of the Firm: The readings will consist of both scholarly research articles and chapters from the textbook, Economics, Organization and Management, by Paul Milgrom and John Roberts (1992, Prentice Hall). Both kinds of readings will be made available online. Weitere Literaturangaben erfolgen während der Veranstaltungen. |
| Weblink | Weblink zu ADAM |
| Teilnahmevoraussetzungen | Completed Bachelor in Business and Economics |
| Anmeldung zur Lehrveranstaltung | Registration: Please enrol in MOnA. EUCOR-Students and Exchange-Students have to enrol at the students administration office (studsek@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Unterrichtssprache | Englisch |
| Einsatz digitaler Medien | kein spezifischer Einsatz |
| Intervall | Wochentag | Zeit | Raum |
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Keine Einzeltermine verfügbar, bitte informieren Sie sich direkt bei den Dozierenden.
| Module |
Kernmodul BWL (Master Wirtschaftswissenschaften) (Pflicht) Modul Kernbereich Wirtschaftswissenschaften für Fortgeschrittene (Master Sustainable Development) Modul Methoden der Wirtschaftswissenschaften (Masterstudium: European Global Studies) Modul Wirtschaftswissenschaftliche Grundlagen der Europäischen Integration (Masterstudium: European Studies (Studienbeginn vor 01.02.2015)) |
| Prüfung | Semesterendprüfung |
| Hinweise zur Prüfung | written exam: 08.06.2017; 10:15-11:45. Physik: A-G; Bernoullianum: H-L; Aula: M-Z. The addresses of the examination halls can be found here: http://wwz.unibas.ch/studium/pruefungen/raeume/ The course grade of both parts will be based on an exam which will cover all of the material covered in the course. You can still withdraw from the examination by submitting a completed, signed form to our office from 21.03.17 until 31.03.17 / 12:00 o’clock. Withdrawals sent by email will not be accepted. You will find the examination withdrawal form on the Homepage of the Student Dean’s Office. Prior to 20.03.17, please only use MONA for withdrawing. The exam rooms will be published up to 25.05.17. |
| An-/Abmeldung zur Prüfung | Anmeldung: Belegen |
| Wiederholungsprüfung | keine Wiederholungsprüfung |
| Skala | 1-6 0,1 |
| Belegen bei Nichtbestehen | beliebig wiederholbar |
| Zuständige Fakultät | Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch |
| Anbietende Organisationseinheit | Wirtschaftswissenschaftliche Fakultät |