Week06_lecture - Information Systems and Analysis(ORIE 311...

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Week 6 (2/27-3/1) ORIE 311 1 Information Systems and Analysis (ORIE 311) Introduction to Game Theory and Value of Information in a Network
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Week 6 (2/27-3/1) ORIE 311 2 Homework Homework 3 is due today at NOON Homework 4 is available on the course website and will be due at noon on Monday, 3/13. Question 6 is a “mini” preparation for your class project.
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Week 6 (2/27-3/1) ORIE 311 3 Information in Interaction Information profoundly shapes our interactions Ex: Games, Military Strategies, Negotiations Game Theory provides tools for analyzing these interactions Human interactions are highly complex Game theory is just an approximation, provides abstract and tractable models for analysis Basic Setup Multiple Players Each play has set of available decisions The reward to each player depends on his/her decision and the actions of other players, and possibly some other random events (e.g. weather, general state of the economy, etc.)
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Week 6 (2/27-3/1) ORIE 311 4 Information in Game Theory The strategy of each player depends crucially on the nature of information that each player possesses Information structure of a game Example: Poker vs Monopoly© Game What’s the difference?
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Week 6 (2/27-3/1) ORIE 311 5 Symmetric vs Asymmetric Game Symmetric Game = all players have the same information Much easier to analyze Ex: Monopoly© Game Asymmetric Game = NOT all players have the same information Their actions can reveal information.
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  • Spring '06
  • RUSMEVICHIENGTONG
  • Game Theory, common knowledge, Orie

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