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Game Theory - Coggle Diagram
Game Theory
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Game No 2- Monty Hall Problem 
The Monty Hall problem is a famous, seemingly paradoxical problem in conditional probability and reasoning using Bayes' theorem.
There are 3 doors, behind which are two goats and a car.
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Monty Hall, the game show host, examines the other doors (B & C) and opens one with a goat. (If both doors have goats, he picks randomly.)
Game No 5 - Rock Paper Scissors
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Rock, paper, scissors is a fun and easy hand game
R or S,P are represent the moves players are making in the game. Rock (R), Paper (P), or Scissors (S).
Used in economics, politics areas to help make a decisions making
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Game No 11-Stag hunt
Analogy for social cooperation
Two hunters can cooperate and bring down a deer,or individually catch a rabbit.
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A game is finite if the number of players in the game is finite and the number of pure strategies each player has is finite. Stag hunt - 2 players, 2 strategies.
Game No 12-Battle of the sexes
The Battle of the Sexes is a classic game theory scenario that highlights the coordination problem between two players who have different preferences but wish to reach a mutually beneficial outcome.
She wants to watch Godzilla, he wants to watch X-Men.
If they refuse to cooperate, the pay-off is (0,0) because they are not together
If they agree to compromise, one or the other gains more from the experience.
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Game No 4 -Pareto optimality
An outcome is said to be Pareto optimal if it cannot be Pareto dominated by any other outcome. To be specific on choosing a Pareto outcome, it is evident that no other outcome can prove to be better than this outcome for all the players.
2 person zero-sum game
if one gains, another loses
Win, Lose, Draw = +1, -1, 0
Game No 6 - Hawk Dove W – win, L – lose, T- tie, X – death.
John Maynard Smith
(1920-2004) was one of Britain’s most eminent evolutionary biologists.
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Types
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Decision Theory
Decision theory is a multidisciplinary field in behavioral science that explores how individuals and organizations make choices, particularly in uncertain or complex situations.
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Game No 10 Mutual Assured Destruction
Mutual assured destruction, often abbreviated as MAD, it is part of the military strategy of deterrence.
Strangely, although his work led to him being awarded Nobel Peace Prize, this idea leads to MAD - the only stable situation is if every country has their own nuclear deterrent.
Definition
Game theory is the study of how and why individuals and entities (called players) make decisions about their situations. It is a theoretical framework for conceiving social scenarios among competing players.
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