Game Theory, Part I

This introductory episode explains the basic principles upon which microeconomics is based. Hosted on Acast. See acast.com/privacy for more information.

How can firms overcome the challenges of aligning incentives within the organization? Hosted on Acast. See acast.com/privacy for more information.

These two models of asymmetric information occur before the economic relationship (adverse selection) or after the contract is signed (moral hazard). Hosted on Acast. See acast.com/privacy for more information.

The quantity-choice oligopoly games are Cournot (simultaneous) and Stackelberg (sequential). Hosted on Acast. See acast.com/privacy for more information.

What are oligopolies, how are they regulated, and what is the Bertrand pricing model? Hosted on Acast. See acast.com/privacy for more information.

Sequential games and how to solve them are explained. Hosted on Acast. See acast.com/privacy for more information.

This covers the principles of game theory, and explores the simultaneous move games (like Prisoner's Dilemma). Hosted on Acast. See acast.com/privacy for more information.

Two pricing strategies firms can use to increase revenue are two-part tariffs (a fixed fee plus a per-unit charge) and bundling (selling two different products/services together in a package). Hosted on Acast. See acast.com/privacy for more information.

How do monopolists set their optimal price, and how can firms increase their profits by charging different prices to different customers for the same product or service? Hosted on Acast. See acast.com/privacy for more information.

Why is the competitive firm's supply curve equal to the marginal cost curve, and why do firms earn zero profits in the long run? Hosted on Acast. See acast.com/privacy for more information.