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Unformatted text preview: b. Nash equilibrium: when As choice is optimal given Bs choice and Bs choice is optimal given As choice c. Dominant strategy equilibrium: strategy which is better than the other strategy no matter what the opponent does. As choice is optimal regardless of Bs choice. AND Bs choice is optimal regardless of As behavior d. Example 4. Prisoners Dilemma a. Payoff matrix b. Equilibrium c. Pareto efficient/inefficient d. Example 5. Even more games a. Examples 6. Auctions a. Types i. Ascending ii. Descending iii. 1 st-Price Sealed-Bid iv. 2 nd-Price Sealed-Bid b. Strategies 7. Conclusions III. NEXT TIME A. Second exam over Chapters 8, 9, 10, 11...
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- Spring '08
- Game Theory