Unit 4.1 And 4.2 Flashcards
What needs to be done to stop climate change ?
Steps to cut greenhouse gas emissions
Reduce consumption of energy intensive goods
Using alternative energy technologies
What is climate change an example of
Social dilemma
What is a social dilemma
Occurs when we don’t take into account the effects of our actions on others
(Conflict between personal gain and common good)
What is the tragedy of the commons
Resources not owned by anyone are easily over exploited unless access to the resource is controlled in some way
What is a free rider
Multiple benefit but one bares cost
When do strategic interactions occur
When two or more people engage in interactions with mutual awareness of cross effect of their actions
What is game theory
Set of models of strategic interactions
How would we describe a game ? (Specify)
The players
The strategies
The order of play
The information
The payoffs
What is a sequential game
Moves occur one after the other
Simultaneous moves
Moves occur at the same time
What forms can payoffs take
Monetary income
Profit
Ratings
