The Mathematics of Trust // How Game Theory Explains Cooperation
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- Опубліковано 2 сер 2024
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Cooperation is crucial to so much of society, but it comes with something of a dilemma. If we cooperate, we can potentially get a higher payoff. But if the other player doesn't cooperate, we could be left with nothing and would have been better off just acting alone and getting something. This is the truth dilemma, and we can use Game Theory to study it. Specifically we will study the Stag Hunt game that considers hunters deciding to go for a Stag or a Hare. This is a Normal Form Game and we begin by noting that its payoff matrix doesn't have any dominating strategies, the main method we have seen previously in the game theory playlist. Instead we will define Nash Equilibriums and see how the Stag Hunt game actually has two equilibriums, one that maximizes payoff and one that minimizes risk.
0:00 The Trust Dilemma
0:45 The Stag Hunt Game
5:12 Nash Equilibria
7:56 The Cooperation Problem
10:57 Check out Brilliant.org/treforbazett
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The Stag Hunt game in this video is one of the classics from Game Theory, but the other big classic is the Prisoner's Dilemma. You can check out the video on that and the rest of the Game Theory playlist here: ua-cam.com/play/PLHXZ9OQGMqxdzD8KpTHz6_gsw9pPxRFlX.html. My thanks once again to Brilliant for sponsoring this video, check out www.brilliant.org/treforbazett to sign up for free or first 200 people get 20% of the annual premium membership.
Who here from game theory
me
Damn how'd you know 😂
Me, too
What is happening right now!!!
@@DrTreforbasically matpat from game theory kinds took your idea and credit you so yeh
Never expected to get linked to my Calculus Professor from a Game Theory video
That means MatPat knows who he is
I love the practical use of seemingly random facts and logic puzzles.
It’s crazy how much silly little games like this actually make a difference!
@@DrTrefor ME TOO!
Came here from Game Theory!
06:42 If my allied colleague found playing hare, forget about game theory , i will play him .
Really enjoying the series.....
Thank you!
There is an interesting question
about strategy
when a game is a "one off" game
or if it is a "repeated" game over many cycles
I hope you will be exploring the differences
Indeed! Yes, I have a video on “iterated normal form games” coming up soon
How i hawent seen this video it looks great 👍
Please make more videos o integration. I love that.
Will do!
@@DrTrefor thanks for replying.
good video 👍
Thank you!
What happens if individuals in the game are playing to maximize their relative return rather than absolute return? As the good doctor points out, clearly the trust solution provides the most absolute bang for the buck (or loonie in his case). But we don't have look farther than our economic system to find examples where individuals (ie. firms) are more concerned with minimizing the return to the competition than maximizing their own immediate returns, with the hope of dominating the market in the medium-to-long term. I'm relatively new to game theory so I'm curious to see if this possibility is incorporated as well.
Hey dr, I hope you are doing well, thank you for your effort, I like this course but I would like to ask where to find some practice exercises for game theory. Thank You
I don't have any just yet, but I hope to put together a little webpage for the entire course with practice in it.
@@DrTrefor Awesome dr, I hope to see you in coursera with all your courses, you deserve that
Game theory is wisdom
GREAT VIDEDOS! AND THIS WAS EVEN SUPER MORE NICER!!!!!!! >>>>>>>> THAN MY TEACHER!
haha thank you!!
@@DrTrefor :)
Is algebric topology series coming?
I have a nice one off coming early sept!
There is a phrase that
"If You wanna Rule the Jungle
You should be ready to be hungry"
Do you have abstract algebra course on the channel?
Not yet, but one day!
where lore link?
but thats just a theory
A GAME THEORY
O yes, Beautiful Minds on this channel you summon up :)
haha that movie definitely played a role in getting me started in this direction!
@@DrTrefor I sure can bet on that lol
came from matpat
💗
game theory before matpat
Make videos on calculus of complex functions 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
Ooh I do plan a mini series at some point on complex analysis
Matpat
Shouldn’t he have split the stag number like he did the hare, so each player gets 2? If that’s the case go with the hare. There was a dominating strategy to me
solo stag gets 8 its just unattainable
This model explains the dilemma of nuclear disarmament…
Indeed Game Theory is great for "games" like nuclear disarmament:)
Large organizations - players play once then never see eachother again - low-trust society - inferior outcomes
Small organizations - players play repeatedly - high-trust society - superior outcomes
A study of life satisfaction found that two demographics were tied (statistically) for higest life satisfaction in America. Billionaires, and the Amish.