Take a look at the following video that tries to illustrate oligopoly and game theory Clifford, Jacob. (April
27, 2014). Oligopolies and Game Theory- EconMovies #8: The Dark Knight.
https://www.youtube.com/watch?
v=JMq059SAQXM
Find one other YouTube video on game theory and share the link with your classmates. Then discuss the
following issues:
Did the video or the other video you found help explain the concept of game theory? Or was it just silly?
Besides oligopoly, can you think of any other situations that game theory is useful for? This can be
situations in
the business world, in your own workplace, or even something you saw in a movie or TV show.
What do you find easier to follow – the game theory matrices or the math equations/computations?
Ref: Tabarrok, A. & Cowen, T. [Marginal Revolution University]. (2015, January 2). Introduction to the
Competitive
Firm. https://www.youtube.com/watch?v=muFSypea2vo
Now read Chapters 9 and 10 from the following book for more detail on these topics. In particular, pay
attention
to the numerical examples and the “Self-Check Questions” at the end of each section.
Taylor, T. (2014) Microeconomics. OpenStax College.
http://cnx.org/contents/[email protected]:WXgRcPaN@10/Introduction-to-a-Monopoly
Sample Solution
