Game theory game classes

Market game

In economic theory, a strategic market game, also known as a market game, is a game explaining price formation through game theory, typically implementing a general equilibrium outcome as a Nash equilibrium. Fundamentally in a strategic market game, markets work in a strategic way that does not (directly) involve price but can indirectly influence it. The key ingredients to modelling strategic market games are the definition of trading posts (or markets), and their price formation mechanisms as a function of the actions of players. A leading example is the Lloyd Shapley and Martin Shubik trading post game. Shapley-Shubik use a numeraire and trading posts for the exchange of goods. The relative price of each good in terms of the numeraire is determined as the ratio of the amount of the numeraire brought at each post, to the quantity of goods offered for sale at that post. In this way, every agent is allocated goods in proportion to his bids, so that posts always clear.Pradeep Dubey and John Geanakoplos show that such a game can be a strategic foundation of the Walras equilibrium. A key ingredient of such approaches is to have very large numbers of players, such that for each player the action appears to him as a linear constraint that he cannot influence. An excellent description of price formation in a strategic market game in which for each commodity there is a unique trading post, on which consumers place offers of the commodity and bids of inside money, is provided by James Peck, Karl Shell and Stephen Spear. (Wikipedia).

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Why Game Theory is Not About Competition

This video was made possible by our Patreon community! ❤️ See new videos early, participate in exclusive Q&As, and more! ➡️ https://www.patreon.com/EconomicsExplained ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ Game Theory is supposed to show how businesses (and prisoners) can outdo each other to win out

From playlist Case Studies

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Understanding How Prices Work in a Free Market

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From playlist Economics

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Webinar: If I build it, will they come? Understanding Product-Market Fit

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From playlist Leadership & Management

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Market Prologue

This video is a precursor to the market experiment we'll be doing in class. "Market Prologue" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

From playlist Microeconomics modules

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How I Pick Stocks.

An easy to understand and easy to use method that I use to pick stocks! Link to the code : https://github.com/ritvikmath/Time-Series-Analysis/blob/master/Investing.ipynb Link to file containing ticker data : https://github.com/ritvikmath/Time-Series-Analysis/blob/master/series_tickers.p

From playlist Stock Trading Principles

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From playlist Economics

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Game Theory and Economics by Dr. Debarshi Das, Department of Humanities and Social Sciences, IIT Guwahati. For more details on NPTEL visit http://nptel.iitm.ac.in

From playlist IIT Guwahati: Game Theory and Economics | CosmoLearning.org Economics

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Samuel Bowles, Research Professor at the Santa Fe Institute and Professor of Economics at the University of Siena, gave three public lectures where he presented evidence that explicit incentives and constraints often diminish ethical motivations. This is the second lecture of a three-part

From playlist Ethics, Politics and Economics

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The Next Generation of Video Games by Shana Fisher (IAC) - Web 2.0 Expo NY

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From playlist Web 2.0 Expo New York 2008

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From playlist Lecture Collection | Developing Mobile Apps with Web Technologies

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The New Future of Japan - The Auteur Movement - Extra Credits

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From playlist Extra Credits (ALL EPISODES)

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From playlist Extra Credits (ALL EPISODES)

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From playlist Econ in Real Life

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Wicked Good Ruby 2013 - Market Analytics in EVE with Ruby

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From playlist Wicked Good Ruby 2013

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From playlist Best Production Practices for Casual Games

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Stanford Seminar - DeNA: Its Evolutionary History and Challenge to the Global Mobile Game Market

Dai Watanabe of DeNA West April 15, 2014 This lecture series presented by the US-Japan Technology Management Center and the US-Asia Technology Management Center explores patterns and challenges of entrepreneurship in Asia. A wide range of expert executive guest speakers will discuss the l

From playlist Leadership & Management

Related pages

Nash equilibrium | Game theory