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GAME THEORY (Real World Applications (Psychology, Military Strategy,…

- - - - big fighter, no pairing
    - - middle, strong pairing
    - - weak, mimics female
- - - - Games as well-defined mathematical objects
        
        Players
        
        Payoffs for each outcome
        
        Information and Actions available at each decision point
        
        Equilibrium strategy
        
        how to play to get your personal best outcome (assuming everyone else does the same)
      - Decision tree - extensive form
      - Matrix - normal form
        
        Assume moves happen simultaneously, or players
        don’t know other’s actions.
      - Zero-sum games
        
        1 person’s gain = sum of net losses of opponents
      - Battle of the sexes
        
        Pareto optimality = no-one’s interests are more
        important
      - The Prisoners’ Dilemma
        
        Is it rational to cooperate or to be aggressive?