Very interesting video lesson on simultaneous move games. Some interesting examples of such games that i came across are Prisoner's dilemma and Parity chess.
Again another perfect explanation...Thanks...I'll tell all EC202 students at my Campus to watch this 8 min rather than wasting our time going for a 2hrs lecture on Game theory. I would have use an hour of my lecture charting if I had come across this before.
Hello, I have some questions. If u have two players with three strategies (Low, High and Medium) - Simultaneous game. And when we try find the best response for each of the player, it will come out the following : Player 1 L - H M - H H - M Player 2 L - H M- H H- M Playoff Matrix SC L M H L (3,3) (2,5) (1,6) M (5,2) (4,4) (2,5) H (6,1) (5,2) (-2,-2) How we could we say that there is a dominant strategies or not? Because I am confused as I think there is no dominant strategy and if there is no dominant strategy what it will be the Nash equilibrium Another question, if we move one player and then the other one , our outcome could change?
Ted's dominant strategy is going low, Lisa can easily guess this. Even if she can't deduce this, according to me she should have opted to go low, as when Ted goes high and Lisa too is going high she is earning 5 utility but when she goes low instead of high in this situation, she is the one who only loses 1 utility, on the other hand, Ted has to compromise 3, which makes Lisa more competitive. But then again, the basic assumption is more utility is better. In my case, Lisa is gaining more utility as she is encouraged by the fact that the gap between her and Ted is reduced and this is the only case in which she is earning more.
Thank you so much Ashley Greetings from Nepal Your explanation was mind blowing I was really feeling confused having hards time in game theory n payoff matrix Though, I never understood from professor.. he was unable explain in simple language. ur explanation made it crystal clear to me..... Thank you I am really subscribing now you are awesome. Mam i anticipating further more videos relating to the subject matter. inspiring mam
honestly if ted goes high, Lisa should not go High as well.... Yes she does get 5 but Tedd also gets 6 which is more than lisa...If Tedd goes High I think Lisa would go low because she gets 4 but she also beats Tedd because Tedd only gets 3
I just love most of your lectures and the amazing way you always teach, Thanks, you made my day.
Hey thanks! You are the reason I know understand this. It would be cool if you could do a video on Mixed--Strategy Nash equilibrium ;)
Thank you a million times over for such a wonderful explanation!
Thanks a lot for the videos, they really help a lot!
You are very talented at explaining this! Thanks!
Thanks for the video! It was exactly what i was looking for!
Very interesting video lesson on simultaneous move games. Some interesting examples of such games that i came across are Prisoner's dilemma and Parity chess.
Thank you Dr Hodgson. Preparing for an Econ final @Stern MBA and this was very helpful.
Again another perfect explanation...Thanks...I'll tell all EC202 students at my Campus to watch this 8 min rather than wasting our time going for a 2hrs lecture on Game theory. I would have use an hour of my lecture charting if I had come across this before.
Exactly what I needed! Thank you :)
Thank you so much for your videos.
glad that i found your video. It makes cake walk of NASH
Thanks, because in this video I understood Game Theory so now I can pass economics for Lawyers.
thank you soooo much! you saved my life the day before my exam
Thank you sooooo much !! this is so helpful
Perfect ! Thank very much.
I have my exam 10 hours later and thanks god I found your video ❤️
Very clear presentation!
thank you so much ! you're an excellent professor
Thank you Ashley. This helped a lot. Any videos on Pareto efficiency?
a million thanks. very very helpful
very well explained !Thanks
I really appreciated to ur teaching , thanks u !!
,
so good thank you so much from Turkey ^^
Hello, I have some questions. If u have two players with three strategies (Low, High and Medium) - Simultaneous game. And when we try find the best response for each of the player, it will come out the following :
Player 1
L - H
M - H
H - M
Player 2
L - H
M- H
H- M
Playoff Matrix
SC
L M H
L (3,3) (2,5) (1,6)
M (5,2) (4,4) (2,5)
H (6,1) (5,2) (-2,-2)
How we could we say that there is a dominant strategies or not? Because I am confused as I think there is no dominant strategy
and if there is no dominant strategy what it will be the Nash equilibrium
Another question, if we move one player and then the other one , our outcome could change?
The real question is how do you estimate payoffs in real world scenarios?
Thank you! :)
very helpful. thank you so much
Thank you. I'll excel in my exam tomorrow because of you.
Ted's dominant strategy is going low, Lisa can easily guess this. Even if she can't deduce this, according to me she should have opted to go low, as when Ted goes high and Lisa too is going high she is earning 5 utility but when she goes low instead of high in this situation, she is the one who only loses 1 utility, on the other hand, Ted has to compromise 3, which makes Lisa more competitive. But then again, the basic assumption is more utility is better. In my case, Lisa is gaining more utility as she is encouraged by the fact that the gap between her and Ted is reduced and this is the only case in which she is earning more.
Thank you so much Ashley
Greetings from Nepal
Your explanation was mind blowing
I was really feeling confused having hards time in game theory n payoff matrix Though, I never understood from professor.. he was unable explain in simple language. ur explanation made it crystal clear to me..... Thank you
I am really subscribing now you are awesome.
Mam i anticipating further more videos relating to the subject matter. inspiring mam
very nice thank you
Thank you so much
Many thanks
Hi...Is there any video about game tree sequential capacity expansion game? Thanks
Would it also be a prisoner’s dilemma since both could’ve gotten higher payouts in different scenarios?
But how do I illustrate this in a game tree ???? Please
Thank you so much Emma Stone
👏🏻👏🏻👏🏻👏🏻😀💪🏼
What if Ted did not have a dominant, then what should Lisa choose ?
There are situations when there is no Nash Equilibrium
Game Theory seems to cut reality down way too much.
Are you related to Geoff Hodgson?
Not that I know of, although I'm sure if you go back enough generations, I'd be related to him.
honestly if ted goes high, Lisa should not go High as well.... Yes she does get 5 but Tedd also gets 6 which is more than lisa...If Tedd goes High I think Lisa would go low because she gets 4 but she also beats Tedd because Tedd only gets 3