Nash equilibrium-
When a players of the game try to make the best possible decision they can
according to the other person decision. And the other person’s decisions are
based on the 1st players.
Game theory- a
situation where a persons choice of action depends critically on the actions of
the other participants
Prisoner dilemma-
when two individuals act in their best interest to pursue a course of action
which does not end out ideally for their course of action
I found out that after playing the game a few times that if
you press cooperate the whole time you tie with the Serendip, and if you press
compete the whole time you will win. Its hard to come up with a strategy to
beat the Serendip by a landslide but, I believe that the strategy is once you
play the first move the Serendip will acclimate with that move. Say you have
pressed the cooperate button after you have pressed the compete button a few
times. The Serendip will probably compete with the cooperate button at first,
but then he will realize you cooperate then decide to cooperate as well.
Give an example of
Game Theory/prisoner dilemma:
In history: John
von Neumann in the 1920’s, they studied “zero sum” games and eventually won a
1994 Nobel Memorial Prize
In Government: The
executive branch of the U.S. government engaged in international negotiations
on trade or related matters can credibly take a firm stance by pointing out
that the Congress would not ratify anything less.
In economics: enabled
information economics to burgeon in the last twenty years is the parallel
development of concepts and techniques
related to sociology:
The case of the Afrikaners they chose to blame Africa for their problems
and that did help them at all. If they accepted their problems then maybe they
would get along africa
related to
psychology: when you ask a person on a date, you want to use the best
strategy you can to win the person over
In your everyday
life: When two good tv shows are on and you have to choose whether or not
to pick one according to whether or not its on again.
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