We first consider the alternative "Bertrand" model of imperfect competition between two firms in which the firms set prices rather than setting quantities. Then we consider a richer model in which firms still set prices but in which the goods they produce are not identical. We model the firms as stores that are on either end of a long road or line. Customers live along this line. Then we return to models of strategic politics in which it is voters that are spread along a line. This time, however, we do not allow candidates to choose positions: they can only choose whether or not to enter the election. We play this "candidate-voter game" in the class, and we start to analyze both as a lesson about the notion of equilibrium and a lesson about politics.
As one of the world's great universities, Yale traces its roots back to the early 1640s when colonial clergyman sought to establish a school in order to continue the tradition of European education within the Americas. Yale has now grown to educate over 11,000 students from over 100 countries on a 310-acre campus in New Haven, Connecticut. Within the school's 260 buildings are over 2,000 undergraduate programs in 65 departments taught by a distinguished faculty. As Academic Earth's first partner school, Yale has been a leader within the space of OpenCourseWare by consistently delivering on its esteemed mission to expand access to educational materials for all who wish to learn.