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game_theory [2023/04/26 19:43] – [Nash Equilibrium] sabsgame_theory [2024/04/12 09:41] (current) – [The Prisoner's Dilemma] tom
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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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 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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  • Last modified: 2023/04/26 19:43
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