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Game Theory

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Game Theory

Study of Games

A game is an activity which incorporates a variety of skills/knowledge, where you follow rules, and you try to win or solve a problem.

Prisoner’s Dilemma - It’s in your best interests to cooperate, but you might not. Mutual versus Self Interest.

Coordination Game - better outcomes if you work together (there’s no incentive for cheating).

Tragedy of the Commons - Every person tries to get the most of a shared, but limited, resource.

Zero Sum - You win by others losing.

Grim Trigger - Cooperation until a defection and then every one for them self.

Byzantine General’s Problem - Parties agree on a single strategy, but some parties are corrupt.