\ B A \ 12 130 22 Draw a graph to show the expected pay-off for A. What is the value of the game. How often should A choose strategy 1? If A adopts a mixed.

Slides:

Advertisements

Similar presentations

PowerPoint Slides by Robert F. BrookerCopyright (c) 2001 by Harcourt, Inc. All rights reserved. Strategic Behavior Game Theory –Players –Strategies –Payoff.

Advertisements

Chapter 17: Making Complex Decisions April 1, 2004.

Game Theory John R. Swinton, Ph.D. Center for Economic Education

Pondering more Problems. Enriching the Alice-Bob story Go to AGo to B Go to A Alice Go to B Go to A Go to B Go shoot pool Alice.

Game Theory Assignment For all of these games, P1 chooses between the columns, and P2 chooses between the rows.

Assoc. Prof. Yeşim Kuştepeli1 GAME THEORY AND APPLICATIONS DOMINANT STRATEGY.

Prisoner’s Dilemma An illustration of Nash Equilibrium Art’s Strategies Bob’s Strategies Confess Deny Confess Deny 10 yrs. 1 yr. 3 yrs. 1 yr. 10 yrs.

Mixed Strategies For Managers

Chapter Twenty-Eight Game Theory. u Game theory models strategic behavior by agents who understand that their actions affect the actions of other agents.

Managerial Economics Game Theory for Oligopoly

Bayesian Games Yasuhiro Kirihata University of Illinois at Chicago.

1 Chapter 14 – Game Theory 14.1 Nash Equilibrium 14.2 Repeated Prisoners’ Dilemma 14.3 Sequential-Move Games and Strategic Moves.

1 Game Theory. 2 Agenda Game Theory Matrix Form of a Game Dominant Strategy and Dominated Strategy Nash Equilibrium Game Trees Subgame Perfection.

Game Theory Advertising Example 1. Game Theory What is the optimal strategy for Firm A if Firm B chooses to advertise? 2.

Non-cooperative Games Elon Kohlberg February 2, 2015.

AP Economics Mr. Bernstein Module 65: Game Theory December 10, 2014.

Peter Lam Discrete Math CS. Outline  Use game theory to solve strictly determining games  Non strictly games  Create models for games  Find optimal.

Economics 202: Intermediate Microeconomic Theory 1.HW #6 on website. Due Tuesday. 2.Second test covers up through today’s material, and will be “pseudo-cumulative”

Economics 202: Intermediate Microeconomic Theory 1.HW #6 on website. Due Thursday. 2.No new reading for Thursday, should be done with Ch 8, up to page.

OLIGOPOLY AND GAME THEORY Phillip J Bryson Marriott School, BYU.

Game Theory And Competition Strategies

Eponine Lupo.  Game Theory is a mathematical theory that deals with models of conflict and cooperation.  It is a precise and logical description of.

Chapter 9: Economics of Strategy: Game theory

Algoritmi per Sistemi Distribuiti Strategici

1 Game theoretic approach to unlicensed spectrum radio resource mgmt. Olav Queseth

Game Problems. Which number is closest to the circumference of the earth? A) 15,000 miles B) 25,000 miles C) 35,000 miles D) 45,000 miles E) 55,000 miles.

Yale lectures 3 and 4 review Iterative deletion of dominated strategies. Ex: two players choose positions on political spectrum. Endpoints become repeatedly.

Chapter Twenty-Eight Game Theory. u Game theory models strategic behavior by agents who understand that their actions affect the actions of other agents.

Game Theory and Applications following H. Varian Chapters 28 & 29.

Lectures in Microeconomics-Charles W. Upton Game Theory.

6.1 Consider a simultaneous game in which player A chooses one of two actions (Up or Down), and B chooses one of two actions (Left or Right). The game.

An introduction to game theory Today: The fundamentals of game theory, including Nash equilibrium.

Lecture Slides Dixit and Skeath Chapter 4

Game Theoretic Analysis of Oligopoly lr L R 0000 L R 1 22 The Lane Selection Game Rational Play is indicated by the black arrows.

An introduction to game theory Today: The fundamentals of game theory, including Nash equilibrium.

Micro Review Game Theory and Taxation Dominant Strategy One strategy is better for a given player, regardless of what his/her opponent chooses to do.

Game Theory The Prisoner’s Dilemma Game. “Strategic thinking is the art of outdoing an adversary, knowing that the adversary is trying to do the same.

Assoc. Prof. Yeşim Kuştepeli1 GAME THEORY AND APPLICATIONS UNCERTAINTY AND EXPECTED UTILITY.

Objectives: Find the value for 2 x n games and analyse strategies. To understand and apply dominance to reduce pay-off matrices. To graphically.

Strategic Decisions in Noncooperative Games Introduction to Game Theory.

A Little Game Theory1 A LITTLE GAME THEORY Mike Bailey MSIM 852.

UNCERTAINTY AND EXPECTED UTILITY Prof. Dr. Yeşim Kuştepeli ECO 4413 Game Theory 1.

KRUGMAN'S MICROECONOMICS for AP* Game Theory Margaret Ray and David Anderson Micro: Econ: Module.

Ásbjörn H Kristbjörnsson1 The complexity of Finding Nash Equilibria Ásbjörn H Kristbjörnsson Algorithms, Logic and Complexity.

Part 3 Linear Programming

1. 2 Some details on the Simplex Method approach 2x2 games 2xn and mx2 games Recall: First try pure strategies. If there are no saddle points use mixed.

© Pearson Education Limited 2015QM-1 Chapter QM Quantitative Decision- Making Aids.

GAME THEORY Day 5. Minimax and Maximin Step 1. Write down the minimum entry in each row. Which one is the largest? Maximin Step 2. Write down the maximum.

Lec 23 Chapter 28 Game Theory.

KRUGMAN'S MICROECONOMICS for AP* Game Theory Margaret Ray and David Anderson 65 Module.

Day 9 GAME THEORY. 3 Solution Methods for Non-Zero Sum Games Dominant Strategy Iterated Dominant Strategy Nash Equilibrium NON- ZERO SUM GAMES HOW TO.

Game theory Chapter 28 and 29

Game theory basics A Game describes situations of strategic interaction, where the payoff for one agent depends on its own actions as well as on the actions.

Chapter 28 Game Theory.

Microeconomics Course E

An introduction to game theory

Project BEST Game Theory.

Nash Equilibrium A strategy combination (a,b) is a Nash equilibrium for two players if neither player would unilaterally deviate if he expected the other.

11b Game Theory Must Know / Outcomes:

Introduction to Game Theory

Game theory Chapter 28 and 29

Game Theory Solutions 1 Find the saddle point for the game having the following payoff table. Use the minimax criterion to find the best strategy for.

11b – Game Theory This web quiz may appear as two pages on tablets and laptops. I recommend that you view it as one page by clicking on the open book icon.

Game Theory Solutions 1 Find the saddle point for the game having the following payoff table. Use the minimax criterion to find the best strategy for.

Molly W. Dahl Georgetown University Econ 101 – Spring 2009

Lecture Game Theory.

Presentation transcript:

\ B A \ Draw a graph to show the expected pay-off for A. What is the value of the game. How often should A choose strategy 1? If A adopts a mixed strategy what should B do?

Objectives: Find the value for 2 x n games for Player A and Player B and analyse strategies. To understand and apply dominance to reduce pay-off matrices. To graphically represent pay-offs for 2 x n games. To begin to consider how to find mixed strategies for both players in mxn games. Mixed Strategies Nash EquilibriumGolden Balls

Pay-off matrix for player A

A’s expected pay-off

Finding the value 2-3p = 5p -2 Value (v) = (-1) x + 2 x (1 - ) = v = 3 x + (-2) x (1 - ) = P = V =

How can we find the value of the game with pay-off matrix -2 0 ? How about B’s strategy?

\ B A \ Draw a graph to show the expected pay-off for A. If A adopts a mixed strategy what should B do? What is the value of the game. How often should A choose strategy 1?

Dominance Bilborough College Maths – Decision 2 Game Theory: value of 2 x n games (Adrian) 27 th March 2012

Activity Topic assessment Nash Equilibrium A Beautiful Mind

plenary “pure and mixed strategies”

Activity Exercise 5B Pages Q3,4 Extension: Q5 Nash Equilibrium