MAT 1374 Lecture Notes - Lecture 5: Open Outcry, Nash Equilibrium, Coordination Game
15 Sep 2016
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We don"t use game trees as they suggest orders. This works best when there"s only two players. Similar to genetics cube for dominant and recessive genes. Strategies in simultaneous games: a pure strategy for a player consists of a specification of a valid move. A strategy profile simply means each player has chosen their move. In the prisoners dilemma, each of the two players has two options; to cooperate or to defect. The payoff matrix tells us the conclusions or outcomes after each player has selected their move. Sometimes there"s an ideal move despite whatever your opponent chooses. It can be higher or equal, yet strict domination means its clearly better/ideal, not weak domination where its lower or equal. A dominant strategy is better than all other in all situations (such as selecting 50x50x0x0x0 in mario party). Never play a dominated strategy; there is no reason to ever do this ad it is never ideal.
