Nash Equilibrium – using a strategy to make the best result
(don’t change strategies)
Game Theory – trying to get your opponent to change their
strategy for you to succeed
Prisoner Dilemma – trying to negotiate with your opponent to
make the safest most beneficial decision
The Serendip online interactive dilemma game was very
interesting but also confusing right away. I didn’t really get what to do right
away, but when I did it was over all kind of life like. If you agreed with
others then they would agree with you. But if you disagreed with something then
they would disagree with you.
Give an example of Game Theory/prisoner dilemma:
In History – the Cuban missile crisis- predicting the
outcome if something bad would have happened
In Government – one party tries to figure out what the other
party is doing
In Economics – competing for service and customers
Related to Sociology – how groups of people think
Related to psychology – how individuals think
In your everyday life – how others respond to what I say and
do
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