Task 8 Flashcards
What is the Game theory?
- interaction between two agents based on:
- common knowledge about the rules
- rationallity
- payoff knowledge (regarding material and utility)
- having informaton about the opponent
- > so it can predict certain events
Which theorys do provide prediction regarding furture behavior ?
- Game theory ( only rationality ) = not good predictor
2. Behavioral Game theory (rationallity + emortions) = good predictor
How would someone behave according to the early game theory ?
- you react selfish to maximize material outcomes
What was the problem with the early game theory ?
- could not explain charitable predition and voter turnout
What does the Behavioural game theory/psychological game theory include ?
- social factors, fairness, social image
What are some solution according the game theory ?
- usually first eliminates the weak strategey and then come up with the nash equiliburum ?
What is the nash equiliburum ?
- it is a state/situation where no one has the need to change the strategy
What are some social decision making tasks ?
- prisoners experience
- Public goods game
- Dictator Game
- Ultimatum Game
- Third party punishment game
What do u in general study regarding the social decison making task ?
- The conflict between emotional and cognitive motivation
What were some findings regarding the prisoners experiment in correlation to the social decision making task ?
- joint defection = nash equiliburum
- that would be the rational way
- but people do oftenly more cooperate in realoty (1/3) of all cases
Explain the public good theory :
- You decide if u want to contribute to the public good and use it or u do not contribute and use it
- Allows free riders
- Best individual vs best collective strategy
Explain the dictator game:
- same as the utilmate game but player B has no influence on the offer (no rejection)
- People offer less then in the utility game
Explain the Ultimatum Game:
- Two players
- Player A recieves money which he can split with himself and player B
- player B can reject the offer and then both gain nothing
- 3 possible outcomes (fair unfair rejection)
How would a ratonal person react to the ultimatum game ?
- Rational people allways accept
What was considered as a low offer regarding the ultimatum game and what what was the standard offer ?
- standard offer 40%-50%
- low offer 20% - 40%
What would happen if u gain an offer from a computer and not from another person ?
- u allways accept
Why would play B reject the offer ?
- social influences on decision making
- punisment of because of norm breaking
What is meant by cooperation ?
- At first us sacrifice something to create a maximum utility outcome
Why does cooperatin evolve in our popultion ?
- Nasty rules (defecting) depend on Nice rules (cooperating)
- If there would be no cooperator left then all who would use nasty rules would die