A Closer Look at Game Theory: The Hat Puzzle By Julia Greenberger.

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Presentation transcript:

A Closer Look at Game Theory: The Hat Puzzle By Julia Greenberger

Game Theory Background Coordination game Players choose corresponding strategies All parties realize maximum gain Game of incomplete information Players do not know color of their own hat

Least Optimal Solution Each player randomly guesses the color of their hat Group will win 1/8 of the time (½ * ½ * ½)

A Better Solution The first two players pass The third player randomly guesses the color of their hat Group will win ½ of the time

The Optimal Solution If a player sees one red and one blue hat, he will pass If a player sees two red hats, he will guess blue If a player sees two blue hats, he will guess red Group will win ¾ of the time

Can a group of WashU students get the optimal solution? Easier to find strategies when you are actually involved in the problem Group went through progression of different strategies to reach optimal strategies

Questions?