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In this episode we describe Bayesian Games, also known as simultaneous-move games with incomplete information, and provide intuition for some very important concepts. Key takeaway concepts are Auctions (English Auction, Vickrey Auction, Second Price Auction), Asymmetric Information, Private Information, Willingness to Pay or Valuation, Bid, Type, and Bayesian Nash Equilibrium.
It's crucial to watch lecture videos in the proper order to ensure effective learning. This is because the concepts in each video build upon those introduced in previous videos. To help you with this, I recommend visiting my website, www.selcukozyurt.com, for a recommended course outline.