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game_theory [2023/02/10 15:06] – [Zero-Sum Game Theory] tomgame_theory [2024/04/12 09:41] (current) – [The Prisoner's Dilemma] tom
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 +{{tag>IEMT Model Framework}} 
 ======Game Theory====== ======Game Theory======
  
-The [[iemt_wiki|IEMT]] model is developed around the model of Zero-Sum Game Theory, particularly with regard to the [[iemt#patterns_of_chronicity|Five Patterns of Chronicity]]. Game theory[(Game_theory>Game theory[[https://en.wikipedia.org/wiki/Game_theory|Wikipedia]])] +The [[iemt_wiki|IEMT]] model is developed around the model of Zero-Sum Game Theory, particularly with regard to the [[iemt#patterns_of_chronicity|Five Patterns of Chronicity]]. Game theory[(Game_theory>Game theory[[https://en.wikipedia.org/wiki/Game_theory|Wikipedia]])] is a mathematical framework for modelling and analysing situations in which decision-makers interact to maximise their own interests. It is used to study decision-making in various fields, such as economics, political science, psychology, and biology. The theory considers the strategic interdependence between players and provides methods for predicting and explaining the outcome of interactions in different types of games, such as cooperative and non-cooperative games. Some of the key concepts in game theory include Nash equilibrium, the prisoner's dilemma, and bargaining solutions.
- is a mathematical framework for modelling and analysing situations in which decision-makers interact to maximise their own interests. It is used to study decision-making in various fields, such as economics, political science, psychology, and biology. The theory considers the strategic interdependence between players and provides methods for predicting and explaining the outcome of interactions in different types of games, such as cooperative and non-cooperative games. Some of the key concepts in game theory include Nash equilibrium, the prisoner's dilemma, and bargaining solutions.+
  
  
 ====Nash Equilibrium==== ====Nash Equilibrium====
  
-The Nash Equilibrium[(Nash_equilibrium>Nash equilibrium[[https://en.wikipedia.org/wiki/Nash_equilibrium|Wikipedia]])] is a solution concept in game theory named after mathematician and economist John Nash. It is a situation in which each player in a game has determined the best strategy for themselves based on the strategies chosen by the other players.John Nash was a mathematician and economist who was awarded the Nobel Prize in Economics in 1994 for his work in game theory. He was also known for his battle with schizophrenia, which was depicted in the film "A Beautiful Mind."+The Nash Equilibrium[(Nash_equilibrium>Nash equilibrium[[https://en.wikipedia.org/wiki/Nash_equilibrium|Wikipedia]])] is a solution concept in game theory named after mathematician and economist John Nash. It is a situation in which each player in a game has determined the best strategy for themselves based on the strategies chosen by the other players. John Nash was a mathematician and economist who was awarded the Nobel Prize in Economics in 1994 for his work in game theory. He was also known for his battle with schizophrenia, which was depicted in the film "A Beautiful Mind."
  
 Formally, a Nash Equilibrium is a set of strategies, one for each player, such that no player has an incentive to deviate from their strategy given the strategies of the other players. This means that if all players follow their Nash Equilibrium strategies, the outcome is stable and cannot be improved upon by any single player changing their strategy. Formally, a Nash Equilibrium is a set of strategies, one for each player, such that no player has an incentive to deviate from their strategy given the strategies of the other players. This means that if all players follow their Nash Equilibrium strategies, the outcome is stable and cannot be improved upon by any single player changing their strategy.
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 ====The Pareto Efficiency==== ====The Pareto Efficiency====
  
-The Pareto Efficiency[(Pareto_efficiency>Pareto efficiency[[https://en.wikipedia.org/wiki/Pareto_efficiency|Wikipedia]])] +The Pareto Efficiency[(Pareto_efficiency>Pareto efficiency[[https://en.wikipedia.org/wiki/Pareto_efficiency|Wikipedia]])], named after economist Vilfredo Pareto, is a concept in economics that describes a situation in which it is impossible to make any one individual better off without making another individual worse off. In other words, a Pareto efficient outcome is one in which no further improvement can be made without making at least one person worse off. Vilfredo Pareto (1848–1923) was an Italian engineer, sociologist, and economist. He made significant contributions to a wide range of fields, including economics, sociology, and political science.
-, named after economist Vilfredo Pareto, is a concept in economics that describes a situation in which it is impossible to make any one individual better off without making another individual worse off. In other words, a Pareto efficient outcome is one in which no further improvement can be made without making at least one person worse off. Vilfredo Pareto (1848–1923) was an Italian engineer, sociologist, and economist. He made significant contributions to a wide range of fields, including economics, sociology, and political science.+
  
 The concept of Pareto Efficiency is used to assess the efficiency of economic systems and is often used as a benchmark for determining whether a proposed change will lead to a more efficient outcome. A change that makes one person better off and no one worse off is considered to be a Pareto improvement, while a change that makes one person worse off is considered to be a Pareto regression. The concept of Pareto Efficiency is used to assess the efficiency of economic systems and is often used as a benchmark for determining whether a proposed change will lead to a more efficient outcome. A change that makes one person better off and no one worse off is considered to be a Pareto improvement, while a change that makes one person worse off is considered to be a Pareto regression.
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 ====Correlated Equilibrium==== ====Correlated Equilibrium====
  
-Correlated Equilibrium[(Correlated_equilibrium>Correlated equilibrium[[https://en.wikipedia.org/wiki/Correlated_equilibrium|Wikipedia]])] +Correlated Equilibrium[(Correlated_equilibrium>Correlated equilibrium[[https://en.wikipedia.org/wiki/Correlated_equilibrium|Wikipedia]])] is a solution concept in game theory that extends the Nash Equilibrium by allowing for randomization or correlation in the strategies of the players. In a Correlated Equilibrium, each player's strategy is determined by a random process that takes into account the strategies of all the players, rather than just the strategies of the other players, as in a Nash Equilibrium.
- is a solution concept in game theory that extends the Nash Equilibrium by allowing for randomization or correlation in the strategies of the players. In a Correlated Equilibrium, each player's strategy is determined by a random process that takes into account the strategies of all the players, rather than just the strategies of the other players, as in a Nash Equilibrium.+
  
 The concept of Correlated Equilibrium allows for the possibility of coordination and cooperation between players, as their strategies can be correlated in a way that benefits all players. This makes Correlated Equilibrium a more realistic solution concept in situations where coordination and cooperation are important. The concept of Correlated Equilibrium allows for the possibility of coordination and cooperation between players, as their strategies can be correlated in a way that benefits all players. This makes Correlated Equilibrium a more realistic solution concept in situations where coordination and cooperation are important.
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 ====Rawlsian Fairness Criterion==== ====Rawlsian Fairness Criterion====
  
-The Rawlsian[(Justice_as_Fairness>Justice as Fairness[[https://en.wikipedia.org/wiki/Justice_as_Fairness|Wikipedia]])] +The Rawlsian[(Justice_as_Fairness>Justice as Fairness[[https://en.wikipedia.org/wiki/Justice_as_Fairness|Wikipedia]])] fairness criterion is a solution concept in social and political philosophy that is named after philosopher John Rawls. The Rawlsian fairness criterion is used to evaluate the fairness of a particular outcome or distribution of resources in a society. John Rawls (1921–2002) was an American philosopher and political economist. He is widely regarded as one of the most important political philosophers of the 20th century and is best known for his theory of justice as fairness, which is presented in his seminal work "A Theory of Justice." Rawls believed that a just society is one in which the basic structure of society, including the distribution of resources and opportunities, is arranged to benefit the least advantaged members of society.
- fairness criterion is a solution concept in social and political philosophy that is named after philosopher John Rawls. The Rawlsian fairness criterion is used to evaluate the fairness of a particular outcome or distribution of resources in a society. John Rawls (1921–2002) was an American philosopher and political economist. He is widely regarded as one of the most important political philosophers of the 20th century and is best known for his theory of justice as fairness, which is presented in his seminal work "A Theory of Justice." Rawls believed that a just society is one in which the basic structure of society, including the distribution of resources and opportunities, is arranged to benefit the least advantaged members of society.+
  
 The Rawlsian fairness criterion is based on two principles of justice: the first, the principle of equal basic liberties, states that everyone is entitled to a set of basic liberties and rights that cannot be taken away; the second,  the difference principle, states that social and economic inequalities are only just if they are to the greatest benefit of the least advantaged. The Rawlsian fairness criterion is based on two principles of justice: the first, the principle of equal basic liberties, states that everyone is entitled to a set of basic liberties and rights that cannot be taken away; the second,  the difference principle, states that social and economic inequalities are only just if they are to the greatest benefit of the least advantaged.
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 In contrast, non-zero-sum games, such as many real-world economic and political interactions, do not have a constant total benefit. In these games, the actions of one player can increase the total benefit for all players, such as in a cooperative game where players work together to achieve a common goal. In contrast, non-zero-sum games, such as many real-world economic and political interactions, do not have a constant total benefit. In these games, the actions of one player can increase the total benefit for all players, such as in a cooperative game where players work together to achieve a common goal.
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 +<blockquote>
 +The more participants viewed social hierarchies as zero-sum, the more they were willing to use dominance tactics...zero-sum beliefs about hierarchies increase the preference for dominance-oriented, but not prestige-oriented, strategies for gaining rank
 +<cite>Is status a zero-sum game? [(APA>Is status a zero-sum game? Zero-sum beliefs increase people’s preference for dominance but not prestige.[[https://psycnet.apa.org/doiLanding?doi=10.1037%2Fxge0001282|psycnet.apa.org]])]
 +</cite>
 +</blockquote>
  
 In zero-sum games, the concept of the Nash Equilibrium is often used to analyze and predict the outcome of the game. The Nash Equilibrium is a state in which each player's strategy is optimal given the strategies of the other players, and no player has the incentive to change their strategy. In a zero-sum game, the Nash Equilibrium represents the most balanced outcome, with one player's gain being exactly offset by the losses of the other players. In zero-sum games, the concept of the Nash Equilibrium is often used to analyze and predict the outcome of the game. The Nash Equilibrium is a state in which each player's strategy is optimal given the strategies of the other players, and no player has the incentive to change their strategy. In a zero-sum game, the Nash Equilibrium represents the most balanced outcome, with one player's gain being exactly offset by the losses of the other players.
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 The prisoner's dilemma provides a powerful illustration of the challenges and conflicts that can arise from rational self-interest and the importance of cooperation in achieving mutually beneficial outcomes. The prisoner's dilemma provides a powerful illustration of the challenges and conflicts that can arise from rational self-interest and the importance of cooperation in achieving mutually beneficial outcomes.
  
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 These games illustrate different aspects of game theory and decision-making and are used to study various aspects of human behavior, including cooperation, competition, fairness, and bargaining. These games illustrate different aspects of game theory and decision-making and are used to study various aspects of human behavior, including cooperation, competition, fairness, and bargaining.
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 +A Game Theory course from Stanford University is available for free by Stanford Online [[https://online.stanford.edu/courses/soe-ycs0002-game-theory| Game Theory by Matthew O. Jackson, Kevin Leyton-Brown, Yoav Shoham]].
  
 =====Tragedy of The Commons===== =====Tragedy of The Commons=====
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  • Last modified: 2023/02/10 15:06
  • by tom