Lecture 1: Introduction to Individual Decision-Making

MIT 14.12 Economic Applications of Game Theory, Fall 2025 Instructor: Ian Ball View the complete course: https://ocw.mit.edu/courses/14-12-economic-applications-of-game-theory-fall-2025/ YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP63quuKvMHCt3cmTmt0O2qpv In this first lecture of the course, Ian Ball explains the basics of game theory, which is a mathematical framework to analyze decision-making when the outcome depends on the actions of other people. In simpler terms, it's interactive decision-making. License: Creative Commons BY-NC-SA More information at https://ocw.mit.edu/terms More courses at https://ocw.mit.edu Support OCW at http://ow.ly/a1If50zVRlQ We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.