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GAME THEORY (Applications (Logic, Mathematics, Philosopy, Artificial…
GAME THEORY
Applications
Logic
Mathematics
Philosopy
Artificial Intelligence
Psychology
Biology
Economics
Military Strategy
Key Elements
Payoffs
What are their incentives?
Strategies
What are their options?
Information
What do they know?
Players
Who is interacting?
Rationality
How do they think?
Introduction
Strategic decision making
Study of cooperation between intelligent rational decision makers.
Study of human behaviour
Study of mathematical models of conflict
Nash Equilibrium
A game may have multiple Nash Equilibria or none at all.
A beautiful mind.
Nobel prize 1994
A essential element of game modeling.
Game Types
Single-move games
Repeated games
Sequential games
Examples
Closed bid auctions
Serving and receiving in Tennis
The Prisoner's Dilemma
Strategy
Pure strategy
Minimax Principle
Maxmin Principle
Mixed strategy
Arithmetic Method
Algebraic Method
Graphical Method
Matrix method
Goals
Participant Design
Optimize the decision or a participant to obtain maximum utility.
Mechanism Design
Focus on designing a game for group of intelligent participant.