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Game Theory

Game Theory. Game 4 Sequential Games. out. 0 , 100. E. in. -50 , -50. fight. M. acc. 50 , 50. Four Personalities. Enter Accommodate “ Nice ” Enter Fight “ Selfish ” Out Accommodate “ Too Nice ” Out Fight “ Mean ”. Class Division. “ Nice ” (Enter,Accommodate) 90%

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Game Theory

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  1. Game Theory Game 4 Sequential Games

  2. out 0 , 100 E in -50 , -50 fight M acc 50 , 50 Four Personalities • Enter Accommodate “Nice” • Enter Fight “Selfish” • Out Accommodate “Too Nice” • Out Fight “Mean”

  3. Class Division • “Nice”(Enter,Accommodate)90% • “Selfish”(Enter,Fight) 5% • “Too Nice”(Out,Accommodate)5% • “Mean”(Out,Fight)0% • Enter: 38 Out: 2 • Accommodate: 38 Fight: 2

  4. Poetic Justice • Nice v. Nice (both share) 100 • Mean v. Mean (both monop.) 100 • Nice v. Too Nice 150 / 50 • Nice v. Selfish 0 / 0 • Selfish v. Selfish -100 / -100

  5. Nice And Lucky (vs. Too Nice) 150 points • Michelle • Wyatt

  6. Nice But Unlucky (vs. Selfish) 0 points • Joshua • Glenn

  7. Selfish Enter / Fight 0 points • Audrey • Fahim

  8. -50 , -50 fight M acc 50 , 50 Optimal Strategies 2 students 38 students • Expected Payoff: • -50(2/40) + 50(38/40) = 45 • Entry is profitable!

  9. Summary • Thinking ahead is critical! • People DO make the right decision in the present • You must anticipate that decision in the future

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