Game Theory

How to think strategically about your actions.
How to think strategically about your actions.

Recall that with the Nash equilibrium, participants make decisions based on the behavior of others around them. This is an example of a branch of mathematics known as game theory, which economists use to understand how individual firms make decisions. In particular, the techniques of game theory can help us determine what level of cooperation is most likely. 

Real World Examples

Advice for Students
Anonymous asked:

Do all games have dominant strategies?

Dirk Deciphers: No, consider Paper, Rock, Scissors. This simple game h... more
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