I know the books are so confusing! It took me about a year to figure out but it's actually pretty straightforward lol. Thanks for the comment good luck with your studies! :)
I think this is a great intro to matrix or normal form games, as well as how to find dominant strategies and Pure Strategy Nash Equilibrium. The explanation is clear, easy to follow, and very helpful! Great video! I think one thing to note is that once you realize Mary has a dominant strategy to play Up you can cross out Down because Mary will never play it so you can make the game smaller using Iterative Elimination of Dominated Strategies.
Hi! {Down, Down} is not a Nash Equilibrium because if this outcome obtained both players would have an incentive to deviate (note that you only need one player to have an incentive to deviate to disqualify as a NE but in this case both players will want to deviate). If Harley played 'Down', Mary (Player 1, Mary's payoffs are the first number) would not want to play 'Down', since if she plays 'Up' she gets 8, and that is bigger than 5 which is what she would get if she played 'Down'. If Mary Played 'Down' Harley would do better playing 'Up' (they would get 8) rather than 'Down' (they would get 5). So if they both played Down they would both have an incentive to deviate. {Down, Down} is a very unstable outcome. Does that help?
Hi! I didn't intent this outcome at all, but I'll tentatively say that this is correct. Tentatively because I haven't thought about it much and I might be missing something.
@@econhelp_official My exam is around the corner as this video helped me a lot compared to those professors that made things complicated for my understanding...truly appreciated.
Incentive for behaviour change based on profit seems a defeated purpose. People are still left with no care, no concern, no concideration. Are always going to be the animal acting in the animal social hierarchy as profit being the urine we claim territory with? How are we ever going to make it. This equilibrium is based on profit from products comparable to each other. So the quality is reduced instead of price. Now buying something means a piece of crap has been sold to you. It Probably will hurt you in some way "accidentally" sold anyway with no regard for human health nor environmental health. Damb such a crying shame.
@@econhelp_official I know it's probably not your fault and just the quality of the mic being very high but if you can do something about it, like decreasing the sensitivity it would really help
I am a sophomore at UW-Madison and i have my Econ 101 final today. Thank you for this thorough description, you just saved my grade!!!
Ooooo goodluck! @Ellie_G!!! Big deep breaths, I hope you do really well!!
I have been trying to understand this for the past three hours and you just saved me. Honestly, thank you
I’m so glad! Thanks for the comment and good luck with your studies xx
This video saved me 3 hour of lecture lol. The best, thank u so much!
Glad it helped and thanks so much for the comment! 😊😊😊
this video is so clear to understand the Nash equilibrium (rather than my lectures) !!!!!!!! love it !!!!
I know the books are so confusing! It took me about a year to figure out but it's actually pretty straightforward lol. Thanks for the comment good luck with your studies! :)
Thank you soooo much
Been suffering to understand but you made it easy
Here 4 hours before my Midterm thank you!
Wow goodluck!!! Hope you do well :)
I think this is a great intro to matrix or normal form games, as well as how to find dominant strategies and Pure Strategy Nash Equilibrium. The explanation is clear, easy to follow, and very helpful! Great video! I think one thing to note is that once you realize Mary has a dominant strategy to play Up you can cross out Down because Mary will never play it so you can make the game smaller using Iterative Elimination of Dominated Strategies.
Thanks you so much that’s really nice of you! Good point re eliminating dominant Ed strategies!
By far the best video on this topic. Thank you so much!
Thankyou so much for the lovely comment! Made my day!
WOW, thank you so much! This was so helpful in understanding game theory!
You're very welcome! Glad to hear it helped!
this vid helped me a lot, thank you very much.
Your explanation was great ❤
I just subscribed, there is a lot to Learn here. Kudos
Thank you so much for the clean and clear explanation...👍👍👍
You're welcome, thankyou so much for the comment, hope the studies went well!
So crisp and clear. Subscribed right away Love from India ❤️❤️
Aw thank you! love from Australia right back at you! Ps love your picture (koala!)
thankyou for the easy explanation
thankyou for the thankyou!! ❤️❤️
THANK YOU!! Great explanation👏
You're very welcome! Thanks for the comment and good luck with your studies!!
this video helped me sooo much, thank you!
Glad it helped! ❤️😊
Amazing explanation
That's so nice of you to say! Thanks so much for watching! ❤️❤️
Merci pour cette vidéo explicative, I got everything.
I’m so glad! Thanks for the comment ❤️🙏
I finally understood game theory, thank you so much
You're welcome! Well done, thanks for the comment!!
Thanks .. it was easy to understand
I'm so glad! Thanks for the comment and the sub and good luck with your study!
Hey I liked your video super useful Nash equilibrium
Glad you liked it! Good luck with your studies!
Thanks, from India
Thank you!! From Aus!
Thank you so much ❤❤❤❤
Always welcome!!! Good Luck with your study thanks for watching!
thanks for the explanation ur a lifesaver! 😁
You're welcome! Thanks for the nice comment! ❤️
Thank you for this video!
You are welcome! Thanks for the comment!
Best Explanation
Glad you think so! Good luck with your study!
you are the best always keep it up
Thank you so much 😀❤️ Good luck with your studies!
Sydney you angel thank you!
:) So glad to help!! Thanks for the comment and good luck with your study!
Thank you so much. 😊
You’re welcome!
is it a pure strategy nash equilibrium?
why? why not?
Very well explained. Thanks
You are welcome Mary! Thanks for the comment and good luck with your studies :) :)
Great presentation
Thank you! Glad you liked it!
You are GENIUS ❤
Haha I wish 😀 glad you found it useful!
Where's the link where there is no nash equlibrium. Plz provide the link
Hi! I forgot to make one so I just did a quick example: ua-cam.com/video/EsYvW-irGsE/v-deo.html hope it helps!
wouldnt the nash equilibrium be 10,10 and 5,5?
Hi! {Down, Down} is not a Nash Equilibrium because if this outcome obtained both players would have an incentive to deviate (note that you only need one player to have an incentive to deviate to disqualify as a NE but in this case both players will want to deviate). If Harley played 'Down', Mary (Player 1, Mary's payoffs are the first number) would not want to play 'Down', since if she plays 'Up' she gets 8, and that is bigger than 5 which is what she would get if she played 'Down'. If Mary Played 'Down' Harley would do better playing 'Up' (they would get 8) rather than 'Down' (they would get 5). So if they both played Down they would both have an incentive to deviate. {Down, Down} is a very unstable outcome. Does that help?
Thank you so much
You're welcome! Thanks for the comment :)
So helpful
Glad you think so! Good luck with your study!
So this is invisible hand game right? And if it wasn’t sociable optimal outcome it’s prisoners dilemma.
Hi! I didn't intent this outcome at all, but I'll tentatively say that this is correct. Tentatively because I haven't thought about it much and I might be missing something.
thanks for the help...
Happy to help! good luck with your studies! 😁
@@econhelp_official My exam is around the corner as this video helped me a lot compared to those professors that made things complicated for my understanding...truly appreciated.
Helpful
I'm so glad! Thanks so much for the comment, I hope that your studies went well :)
saving my ass for econ 201 at oregon lol thankyou
This game won't sell. It's too predictable. Everyone will always choose up.
Madam . I really appreciate 💪💪💪
It's my pleasure! Thanks for the comment!
Nice
👍 Ta!
best friend
🥰 *hugs* you're so nice !! 🥰
No sound in the video
Really? I can hear it, I wonder what happened, I’m sorry about that! I’ll ask UA-cam.
What a video
thank you!! good luck with your course!
4:51 / 7:37
Who can help me in Games theory?
2:20
i love you
Shucks thanks! ❤️❤️
Incentive for behaviour change based on profit seems a defeated purpose. People are still left with no care, no concern, no concideration. Are always going to be the animal acting in the animal social hierarchy as profit being the urine we claim territory with? How are we ever going to make it. This equilibrium is based on profit from products comparable to each other. So the quality is reduced instead of price. Now buying something means a piece of crap has been sold to you. It Probably will hurt you in some way "accidentally" sold anyway with no regard for human health nor environmental health. Damb such a crying shame.
In game theory you assume each player will act rationally.
great video, but please for the love of god get a bit further from the mic, hearing your lips move at every word is excrutiating
Sorry about that!
@@econhelp_official I know it's probably not your fault and just the quality of the mic being very high but if you can do something about it, like decreasing the sensitivity it would really help
Nice video though was helpful.
Happy to help
Please I really need your email
Econmathhelp at gmail dot com - it’s also on my profile! 👍
got a econ assignemt due in 5 hours with all this game theory nonsense in it, this video is sensational all love 🙏
Aw good luck!! Hope you do well, thanks for the comment 👍❤️