Rationality and Expected Utility Theory

This series of lectures investigates the meaning of "rationality" in a game theoretical context, expected utility theory, properties of the utilities we use in these games, and some of the assumptions we make about actors. In essence, we are investigating game theory's mechanics. Most courses in game theroy start with this information and move to games later. However, I place it after strategic form games and extensive form games so that you have some context about what we are discussing.

  1. Rationality
  2. Completeness
  3. Transitivity
    1. Preferences over Outcomes, Not Strategies
  4. Lotteries
  5. Independence over Lotteries
    1. The Allias Paradox
  6. Continuity
    1. Lexicographic Prefernces
  7. Linear Transformations of Expected Utilities
  8. Risk Aversion