Lecture 3 - Iterative deletion and the median-voter theorem

author: Benjamin Polak, Department of Economics, Yale University
recorded by: Yale University
published: Nov. 15, 2010,   recorded: September 2007,   views: 4553
released under terms of: Creative Commons Attribution No Derivatives (CC-BY-ND)
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Description

We apply the main idea from last time, iterative deletion of dominated strategies, to analyze an election where candidates can choose their policy positions. We then consider how good is this classic model as a description of the real political process, and how we might build on it to improve it. Toward the end of the class, we introduce a new idea to get us beyond iterative deletion. We think about our beliefs about what the other player is going to do, and then ask what is the best strategy for us to choose given those beliefs?

Reading assignment:

Strategies and Games: Theory And Practice. (Dutta): Chapter 2, Section 3; Chapters 3-4

Strategy: An Introduction to Game Theory. (Watson): Chapters 6-8

Thinking Strategically. (Dixit and Nalebuff): Chapter 3, Sections 1-3

Resources:

Problem Set 1 [PDF]
Blackboard Notes Lecture 3[PDF]

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Reviews and comments:

Comment1 Jill Fitzsimmons, February 12, 2012 at 7:36 p.m.:

Thank you - very helpful.

In general, it could be more helpful for online viewers if the camera were to rest on the board instead of following the lecturer. We can hear him, but there is often not enough time for both the screen resolution to make the writing on the board clear, and to write it down for ourselves.

Thanks again,

Jill

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