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ECN 340 (202)

Game theory.docx

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ECN 340
Thomas Barbiero

Game theory - A false impression of weakness or strength. - Exposes unconscious rationality - Thomas Schelling in strategic interactions” where would you meet in Toronto if you had no contact with someone”( Lack of communication basing on assumptions){ direct hotline to Moscow} Application of game theory - Game theory and self-command in smoking two types of people one who desperately wants to smoke and one who feels as it’s bad. - Throw away the cigarettes, but then goes out and buys a new one - Everyone has a strategy rewards to oneself for not smoking - Addiction is entirely rational becker and murphy, people calculate( a herion addict is ony different in a degree as to a individual addicted to coffee) - People taking heroin do not thing that they will be the ones getting hooked. - My get married with high divorce rates? - Why drive in a car if you could get killed?= rationality - Rational addicts respond to price changes before they even happen - Schelling viewed that an addicted could win “if only he had the right tactics”
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