Static games of complete information

Question 1

Static games of complete information: what does “static” and “complete information” mean?

Answer 1

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Question 2

Static games of complete information: how it works?

Question 3

Static games of complete information: what are the “pure strategies”?

Question 4

Static games of complete information: what is the “normal form” of a game?

Question 5

Definition of “common knowledge”

Answer 5

Player rationality is common knowledge

Question 6

Matrix representation for n-player games (odd/even example)

Question 7

Definition of Pareto Efficiency

Answer 7

In game theory, Pareto efficiency refers to a situation in a strategic interaction or game where no player can improve their payoff (utility or outcome) without worsening the payoff of at least one other player. In other words, a strategy profile is considered Pareto efficient if it is not possible to make any player better off without making another player worse of.

Question 8

When is a strategy s Pareto optimal?

Question 8

When is a strategy s Pareto optimal?

Question 9

Strictly dominated strategy for a game G = {S1, …, Sn ; u1, …, un}

Question 10

IESDS (“iterated elimination of strictly dominated strategies”)