Game Theory Flashcards
1
Q
Coalition
A
Set of players who chooses same strategies
2
Q
Singleton
A
1 player coalition
3
Q
| H | L | =================== H | -5,-5 | 0,20 | =================== L | -20,0 | -1,-1 | ===================Dominant? Nash? PD?
A
H Dominant
(H,H)
-5
4
Q
| H | L | =================== H | 50,50 | 30,60 | =================== L | 60,30 | 40,40 | ===================Dominant? Nash? PD?
A
L
(L,L)
40
5
Q
Tragedy of commons, 2 requirement?
A
Rivalry in consumption & Non-Excludability
6
Q
Nash Equilibrium
A
Strategy combination where no player has the incentive to deviate from the current strategy, given strategies chosen by all other players.
7
Q
| H | L | =================== H | 4,4 | -1,5 | =================== L | 5,-1 | -100,100 | ===================Dominant? Nash? PD?
A
No dom No nash (-1,5), (5,-1)
8
Q
| H | L | =================== H | 1,-1 | -1,1 | =================== L | -1,1 | 1,-1 | ===================Dominant? Nash? PD?
A
No nash
Zero sum game
9
Q
1
D H
D H D D
(4,4) (-1,5) (5,-1) (-100,-100)
A
(5,-1)
10
Q
Husband
Wife B O
B O B O
(5,1) (0,0) (1,5) (0,0)
A
(5,1)
11
Q
Smith
Jones H T
H T H T
(1,-1) (-1,1) (-1,1) (1,-1)
A
XXX
12
Q
Grim-Trigger Strategy
A
Once mistake was chosen, dominant strategy is chosen forever
13
Q
| H | L | =================== H | -5,-5 | -10,5 | =================== L | 5,-10 | 0,0 | ===================Dominant? Nash? PD?
A
(0,0)
NOT PD, 0 > -5
14
Q
Club good
A
Non-rivalry in consumption
Excludable by payment
15
Q
Club Good Game
| H | L |
===================
H | 5,5 | -5??,10?? |
===================
L | 10??,-5?? | 0,0 |
===================
A
Club Good Game
| H | L |
===================
H | 5,5 | -5+X,10-X |
===================
L | 10-X,-5+X | 0,0 |
===================
