Game Theory Flashcards
1
Q
what is game theory (general)
A
strategy in which players want to maximize their individual returns
2
Q
who made game theory relevant for behaviour ecology
A
John Maynard Smith
3
Q
nash equilibrium
A
when each player has made the best possible decision given the choices of others !! (cannot gain anymore by changing)
~ both confess
4
Q
dominant strategy
A
strategy that is best no matter what the other player does
5
Q
static game of complete information
A
each player chooses an action at same time without knowing what the other panthers have chosen & there is no hidden info (they all have the complete information)
6
Q
game theory games consist of what (3)
A
- players
- choices / strategies available
- payoffs
7
Q
strictly dominated strategy
A
ex. not confess is strictly dominated by confess because confess always results in a better payoff
- players will never choose a strictly dominate strategy
