Strategic Interactions Flashcards
1
Q
strategic interaction
A
when people are engaged in a social interaction and are aware of the ways that their actions affect others, and vice versa
2
Q
strategy
A
action a person may take when aware of mutual dependence of the results for herself and others
3
Q
games
A
models of strategic interactions
4
Q
Nash equilibrium
A
a set of strategies, such that each player maximises their payoff, given the strategy of all other players (mutual best responses!)
5
Q
elements of a game
A
(1) players
(2) actions
(3) information
(4) payoffs
(5) rules
