ReviewGametheory

ReviewGametheory - Intro to Game Theory Revisiting the...

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Intro to Game Theory Revisiting the territory we have covered
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A look at the skeleton There is a fairly small set of ideas which we have seen developed with a rich variety of examples. Today we look at this skeleton. The text develops the examples and we have discussed a large number of them. My advice for study. Read the assigned text and readings carefully. Work problems. Try especially to understand the assigned problems and the worked out
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What is a strategic game? Interacting players Set of possible actions for each player Action profiles Preferences over action profiles
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Example: The Stag Hunt 2 , 2 0 , 1 1 , 0 1 , 1 Stag Sta g Hare Hare Player 1 Player 2 Actions Possible? Action Profiles? Preferences?
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Dominating strategies. Action A strictly dominates action B for a player if he prefers the outcome from doing A to that from doing B, no matter what action the other player takes. Does either strategy in the Stag Hunt dominate the other strategy?
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Another game 1 0 , 10 0, 11 1 1, 0 1, 1 Strategy A Strategy A Strategy B Strategy B Player 1 Player 2 Does either strategy strictly dominate the other for Player 1? Does either strategy strictly dominate the other for Player 2? What are games like this called?
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WeaklyDominating strategies. Action A weakly dominates action B for a player if he likes the outcome from doing A to at least as well as that from doing B, no matter what action the other player takes. And for some actions by the other player, he likes the outcome from A better.
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How about this one? 1 0 ,
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ReviewGametheory - Intro to Game Theory Revisiting the...

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