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Lecture 5

Lecture 5 Game Theory, Emotions & Optimality.docx

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Department
Psychology
Course
PSYC 3100
Professor
Pat Barclay
Semester
Winter

Description
Outline Lecture 5 Game Theory + Emotions & Optimality A: Introduction to Game Theory 1. What is Game Theory? Why use it?  mathematical study of strategic decision making  players in a game  formalized rules for interactions  different actions  different playoffs o makes assumptions specific  a researcher cannot hide behind their words, they need to make things explicit o allows individuals to analyze complexity o you can prove (math - the only science that can PROVE things) o precise quantitative predictions  numerical  what strategies will give the highest payoff  looking at any strategy of a gene trying to make copies of itself 2. Four examples of simple games: - Frequency-independent fitness - either raise your hand or not (you get one dollar for raising your hand and nothing for not raising your hand - everyone raises their hand) o everyone raises their hand o everyone makes a dollar - Positively frequency-dependent fitness: (uni-stable equilibrium - the equilibrium is stable - everyone raising their hand, there is no negative for raising their hand) - If you raise your hand, you receive $1 for everyotherhand that is raised - If you don’t raise your hand, you receive $0 o This is more profitable o The more people that raise their hands, the more money you make - Negatively frequency-dependent fitness: stable internal equilibrium - If you raise your hand, you receive $1 for every hand that is NOT raised - If you don’t raise your hand, you receive $1 for every hand that IS raised o Every strategies does best when rare o There is a point when there is an equal pay off - 1/2 of the class raised and 1/2 not raised o There is a state equilibrium - Positively frequency-dependent fitness: bi-stable equilibrium - If you raise your hand, you receive $1 for every hand that is raised - If you don’t raise your hand, you receive $1 for every hand that is not raised o There is an UNSTABLE equilibrium in the middle o If your hand is up - keep it up o If your hand is down - keep it down  Example - in Canada we drive on the right side of the road - you are better off driving on the right oppose to the left. Vice versa, if you are in Britain, you want to drive on the left oppose to the right  Depends where the population starts  Wherever the equilibrium starts is where you want to follow 3. E
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