Class 10 Poli 205 Game Theory

Question 1

what are the 4 assumptions for rational choice

Answer 1

1) interdependence
2)preferences
3) exhaustiveness
4)maximization

Question 2

what is the prisoner dilemma?

Answer 2

The Prisoner’s Dilemma demonstrates the tension between individual rationality and collective well-being. It highlights the challenges of cooperation when individual actors prioritize personal gain over mutual benefit.
ex: During the Cold War arms race, the United States and the Soviet Union faced a Prisoner’s Dilemma, with the pursuit of individual military advantage risking global instability; arms control agreements emerged as cooperative solutions to mitigate the threat of catastrophic conflict.

Question 3

In stag hunt what is the preference

Answer 3

1. stag
2. rabbit
3. nothing

Question 4

In chicken what is the preference

Answer 4

1.hero
2. wimp
3. chicken
4. dead

Question 5

what is nash equilibrium?

Answer 5

stability achieved when both players no longer have incentive to change their choice.
ex: Nuclear Deterrence in the Cold War

Question 6

Draw mix game strategy (the 4 things needed

Answer 6

1.negotiations
2. attack
3. ally
4. surrender