In this lecture we went over the concepts of game theory, Nash equilibrium, Subgame Perfect Equilibrium, solution of games by underlining and backward induction, normal vs extensive forms, pure and mixed strategies, and talked about the microeconomic part of the module in summary. You can look at the notes from the lecture here, you can watch the lecture here, and of course below. Don't forget to take a test this week. Don't forget to take the teaching evaluation, too, pwetty pwease.

I'm working on the sound, as I said in lectures. There is a slight mistake in the slides, the payoffs in the extensive form game (-1, -10) and (-10, -1) should be reversed, thanks to a few students for pointing that out, and the attendance at tutorials you're assigned to is going to come into force next week. Have a great weekend, everyone.

Economics for Business Lecture 11 from Stephen Kinsella on Vimeo.