We study interactive decisions with asymmetric information. Special attention will be focused on situations that emerge in the fields of industrial organization and public economics.



Specific competences of the subject:

1. Basic knowledge of the literature on Uncertainty.

2. Knowledge of the basic models of Information Economy.

3. Apply Game Theory to situations with asymmetric information.

4. Resolution and interpretation of numerical problems that illustrate the analyzed models.

Chapter 1. Bayesian games. Cournot duopoly with imperfect information.

Chapter 2. Mixed strategies.

Chapter 3. Extensive games with imperfect information.

Chapter 4. Uncertainty and Expected Utility.

Chapter 5. Uncertainty and Asymmetric Information.

The course is best suited to a lecture format, although there will also be practical sessions and seminars. In the practical sessions the lecturer will solve numerical exercises related to the subject. In the seminars, students will be asked both to solve questions and numerical exercises.

Evaluation system:



- A final exam, FE, (the date is already published) in which students will solve problems and theoretical questions. The work done by students during the course will be evaluated in two exams: E1, (topics 0, 1 y 2) and E2 (topics 3 and 4).

- The final score will be given by the application of the following formula:

max {scoreFE, (0.7·(scoreFE) + 0.2·(scoreE1) + 0.1.(scoreE2)}.

- Serrano R. y Feldman A. (2013): A Short Course in Intermediate Microeconomics with Calculus, 1ª edition.
- Osborne, M. J., (2004): An Introduction to Game Theory, Oxford University Press; New York, USA.

Basic bibliography

- Nicholson, W. (2006): Microeconomic Theory: Basic Principles and Extensions. Thomson, 8ª edición.

In-depth bibliography

Additional text books:
- Jehle, Geoffrey A., and Philip J. Reny (2001). Advanced Microeconomic Theory, 2nd edition. Amsterdam: Addison-Wesley.
- Gibbons, R.: Un primer curso de Teoría de Juegos. Antoni Bosch, 1992
- Macho, I. y D. Pérez-Castrillo: Introducción a la Economía de la Información. Ariel Economía, 1994.