Please enable JavaScript.
Coggle requires JavaScript to display documents.
Game Theory
Game theory is the study of strategic decision-making in…
Game Theory
Game theory is the study of strategic decision-making in interactive situations involving multiple players
Form of games
-
Extensive
-
The decision points represented by the tree's nodes are represented by its nodes, and its branches are represented by its branches.
-
-
Hawk Dove
Hawk-Dove is a game-theoretic model that illustrates strategic interactions where individuals can adopt aggressive (hawk) or passive (dove) behaviors in conflict situations
-
-
Often used to study the evolutionary dynamics of aggressive and passive strategies,
The ⅔ Game
The 2/3 Game is a simple strategic game where two players simultaneously choose a number between 0 and 1, and the player whose chosen number is closest to 2/3 of the average of the two numbers wins
-
John Forbes Nash 1950
Strategy profile where no player has incentive to deviate unilaterally
Set of strategies where each player's strategy is best response given others'
Applications
-
Analyze and predict political behavior, coalition formation, voting systems
-
Understand social dilemmas, cooperation, trust, and conflict resolution in social interactions
Pareto optimality
Pareto optimality is a state in which it is impossible to make any individual better off without making someone else worse off.
Monty Hall problem
The Monty Hall problem is a probability puzzle where a contestant is presented with three doors, one of which hides a prize, and after an initial choice, the host reveals one of the remaining doors, leading to a counterintuitive optimal strategy for maximizing the chances of winning the prize