Game Theory preview

Game Theory preview - IntrotoGameTheory:...

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Intro to Game Theory:  The Competitive Dynamics of Strategy MANEC 387 MANEC 387 Preview: Simultaneous Games Preview: Simultaneous Games David F. Benson
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The Structure of Industries Competitive Rivalry Threat of new Entrants Bargaining Power of Customers Threat of Substitutes Bargaining Power of Suppliers From M. Porter, 1979, “How Competitive Forces Shape Strategy”
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Prisoner’s Dilemma Games of Dominant Strategies Two thieves are caught after their getaway (they hide  the loot) They are being held in separate interrogation rooms Evidence against them is not strong so the DA needs  one to testify against the other – or they go free and get  the loot If one rats against his partner, he gets leniency; if one is  ratted against by his partner, the evidence convicts him Should they rat or not rat?
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The Prisoner’s Dilemma Games of Dominant Strategies -1 -1 -2 -2 -1 -1 2 2 2 2 1 1 -2 -2 1 1 Prisoner B Confess Keep  Quiet Confess Keep  Quiet Prisoner A *
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