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Game Theory - Coggle Diagram
Game Theory
Game Theory is...
the study of mathematical models of conflict and cooperation between intelligent, rational decision-makers
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Monty Hall Problem
a probability puzzle where, in a game show scenario, a contestant has a higher chance of winning a car by switching their initial door choice after the host reveals a goat behind one of the other doors.
2 finger morra
involves two players in which both can either show one or two fingers simultaneously, where either does not know what the other is going to show in advance.
form
Normal form
Matrix - simultaneous - Combinatorial
eg. games including hidden information, chance
Extensive form
Tree, keep track of knowledge, turn-taking - Classical
eg. games of perfect knowledge - chess, go
Pareto optimality
Pareto optimality describes a situation where it's impossible to make one player better off without making another player worse off.
Hawk Dove
terms used to describe different approaches to controlling inflation and promoting economic growth.
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Nash Equilibrium
a state where no player can improve their outcome by unilaterally changing their strategy, given the strategies of all other players.
1950 - The best all round strategy
Stability arising from situation where each player maximise advantage (settle argument)
Prisonners’ dilemma
a classic game theory scenario that demonstrates how two rational actors, even when cooperating would be beneficial, can choose to act in their own self-interest, leading to a worse outcome for both.
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