Game Theory VL
Lehrveranstaltung UZH WWF (6 Credits), 2013
Lehrveranstaltung UZH WWF (6 Credits), 2013
Set of flashcards Details
Flashcards | 67 |
---|---|
Language | Deutsch |
Category | Macro-Economics |
Level | University |
Created / Updated | 21.02.2013 / 22.07.2020 |
Licencing | No Copyright (CC0) |
Weblink |
https://card2brain.ch/box/game_theory_vl
|
Embed |
<iframe src="https://card2brain.ch/box/game_theory_vl/embed" width="780" height="150" scrolling="no" frameborder="0"></iframe>
|
a) Describe a game with perfect information.
b) And give some examples.
(belongs to "extensive form games")
a) a player moves
his action is observed by the other player who then moves
and his action is observed by the other player and so on, until the game finishes.
b) - removing sticks
- chess
- game played with myself (alarm clock)
- incrumbent and challenger (price fight or not?)
How do we usually solve a game with perfect information?
⇒ Games of perfect information are typically solved backwards starting at the end, and are very important to understand credibility of threats and commitment.
normal form is a description of a game. Unlike extensive form, normal-form representations are not graphical per se, but rather represent the game by way of a matrix. While this approach can be of greater use in identifying strictly dominated strategies and Nash equilibria, some information is lost as compared to extensive-form representations
Describe an equilibrum in a normal form game.
You have played an equilibrium if your choice was a best reply to the other player’s choice and this is also true for the other player, namely her/his choice is a best reply to yours.
In an equilibrium you cannot gain anything by choosing another strategy under the assumption that the other player does not change hers/his.
a) describe a simultaneous move game
b) and give some examples
a) simultaneous games are typically represented by the normal form; a game where both players have to decide/move simultaneously
b) prisoner's dilemma
decision or game:
a) a pair of teenage girls choosing dresses for their prom
b) a group of grocery shoppers in the diary section with each shopper choosing flavor of yogurt to purchase
a) game - girls choice affects the others choice
b) decision - no interaction among players
decision or game:
a) a college student considering what type of postgraduate education to pursue
b) the new york times and the wall street journal choosing prices for their online subscriptions this year
a) decision - doesn't affect other people
b) game - (Betrand; price competition; strategic)
What kind of decision theory is game theory?
Game theory is interactive decision theory
(It studies the behavior of players whoce decisions affect each other)