POLI SCI 348 Study Guide - Fall 2019, Comprehensive Midterm Notes - Square Enix Europe, Rationality, Nash Equilibrium

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This is a game theory class, proceed with caution. Game theory in international relations: association with a particular way of thinking/analyzing international relations. Game theory uses boxes (matrices), it"s about trade-offs and analyzing risks. Game theory provides mathematical skills for describing the interactions between rational decision makers: rationality: having preferences and acting to achieve more preferred outcomes over less preferred ones. Interdependent decision making: when one actor is making a decision he has to take into account the likely reactions of others. Game theory has many applications: economics, tariffs, education, global warming, voting. It helps to narrow down complex situations and critical components. In strategic interactions (both actors choose based on own preferred outcome and what they expect the other to do: assumption of rational actors, manageable number of actions, when there is more than three actors it gets complicated.

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