Econ Seminar: Prof. Ehud Kalai (Kellogg School of Management)
Faculty of
Arts and Social Sciences
Economics Seminar
by
Prof. Ehud Kalai
(
Kellogg
School
Abstract:
Why markets perform well and why the U.S.
does not switch to
the metric system of measurements are questions that relate
to
economic efficiency in opposite directions. Yet they are both
consequences of the same game-theoretic phenomenon: the Nash equilibria
of games with many players are structurally robust.
The lecture will elaborate on the notion of structural robustness and
its
implications, its relationship to rational expectations, overcoming
modelling difficulties, and on the type of large games that give rise
to
structurally-robust equilibria.
does not switch to
the metric system of measurements are questions that relate
to
economic efficiency in opposite directions. Yet they are both
consequences of the same game-theoretic phenomenon: the Nash equilibria
of games with many players are structurally robust.
The lecture will elaborate on the notion of structural robustness and
its
implications, its relationship to rational expectations, overcoming
modelling difficulties, and on the type of large games that give rise
to
structurally-robust equilibria.