POL380.MAY24.docx

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Department
Political Science
Course
POL380Y1
Professor
Clifford Van Der Linden
Semester
Summer

Description
3,3,2,5,0 =13 GAME THEORY RATIONALITY - In the social sciences a rational decision is one that is considered OPTIMAL or UTILITY-MAXIMIZING - UTILITY is a term used in economics to denote the total satisfaction that an actor derives from the goods and services that they consume - Individuals, firms and states are considered rational if they pursue their interests in a utility maximizing fashion - Homo economicus, or economic man, is logically consistent but amoral - states are economic states, and they are economic actors, meaning that they are logically consistent and amoral RATIONAL CHOICE THEORY - dominant theoretical paradigm in international relations - assumptions include: o all actions can be ranked in a preference ordering o all preferences are transitive (if a1 > a2 > a3) o individual has perfect information about the implications of all choices made o individual has the cognitive ability and time to weight every choice against every other choice - influence foreign policy decision making, especially for the US... - Jarvis reading: move beyond assuming that actors will maximize their pay-offs, there are many variables that affect how that decision is made WHAT IS GAME THEORY - Game theory is the formal study of conflict and cooperation - Game theoretic concepts apply whenever the actions of several agents are interdependent - Concepts of game theory provide a language to formulate, structure, analyze, and understand strategic scenarios - Under the probability of another actor taking that action A GAME THEORETIC MODEL - The US makes a decision under uncertainty o S1: Iraq has WMD o S2: Iraq has no WMD programs - Let us assume that intelligence reports and the administration’s beliefs lead them to conclude that S1 has a probability of o.6 of being true, and S2: a probability of o.4 - Put into a pay-off matrix to calculate...but its all under subjective perspectives for preference RATIONALITY AND GAME THEORY - A central assumption in many variants of game theory is that the players are rational... - The goal of game-theoretic analysis in these branches is to predict how the game will be played by rational players GAME THEORY: EQUILIBRIUM - Equilibrium is a strategy profile consisting of best strategies for each player inhte game - Nash Equilibrium o An outcome in which no player can unilaterally change their strategy and increase their utility - Dominant strategy o A strategy dominates another strategy of a player if it always gives a better payoff to that player, regardless of what the other players are doing o It weakly dominates the other strategy if it is always at least as good o Leads to a strategic choice not to cooperate, even when cooperation leads to a better result - Neither leads to an optimal outcome, - Liberals: rebuts that we don’t know the other parties preference enough PRISONER’S DILEMMA - Game in which mutual cooperation (CC) is not stable - The dominant strategy for bo
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