nicholson微观经济理论（答案+PPT+习题库）-ch15.ppt

Chapter 15 GAME THEORY MODELS OF PRICING Game Theory Game theory involves the study of strategic situations Game theory models attempt to portray complex strategic situations in a highly simplified and stylized setting abstract from personal and institutional details in order to arrive at a representation of the situation that is mathematically tractable Game Theory All games have three elements players strategies payoffs Games may be cooperative or noncooperative Players Each decision-maker in a game is called a player can be an individual, a firm, an entire nation Each player has the ability to choose among a set of possible actions The specific identity of the players is irrelevant no “good guys” or “bad guys” Strategies Each course of action open to a player is called a strategy Strategies can be very simple or very complex each is assumed to be well-defined In noncooperative games, players are uncertain about the strategies used by other players Payoffs The final returns to the players at the end of the game are called payoffs Payoffs are usually measured in terms of utility monetary payoffs are also used It is assumed that players can rank the payoffs associated with a game Notation We will denote a game G between two players (A and B) by G[SA,SB,UA(a,b),UB(a,b)] where SA = strategies available for player A (a ? SA) SB = strategies available for player B (b ? SB) UA = utility obtained by player A when particular strategies are chosen UB = utility obtained by player B when particular strategies are chosen Nash Equilibrium in Games At market equilibrium, no participant has an incentive to change his behavior In games, a pair of strategies (a*,b*) is defined to be a Nash equilibrium if a* is player A’s best strategy when player B plays b*, and b* is player B’s best strategy when player A plays a* Nash Equilibrium in Games A pair of strategies (a*,b*) is defined to be a Nash equilibrium if UA(a*,b*) ? UA(a’,b*) for all a’?SA UB(a*,b*) ? Ub(a*,b’) for all b’?SB