03:00 PM to 04:15 PM TR
Section Information for Spring 2018
This course investigates rational decision making at the individual and group level. We begin with decision theory and consider how a single agent ought to act in a choice situation given her knowledge, or lack thereof, about the world and her particular risk profile. We will examine various problems such as the Allais Paradox, Newcomb’s Problem, and the Ellsberg Paradox. We then move on to game theory and explore different kinds of competitive and cooperative strategic interactions between agents, define different kinds of solutions (or equilibria) of these games, and apply game theory to the study of morality and convention. Finally, if time allows, we will turn to social choice theory to examine models of group decision-making. We will discuss the impossibility results of Arrow and Sen.
Prerequisite: Two previous courses in either Philosophy, Psychology, or Economics.
Credits: 3
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