Nash

Please describe the following in your own words in two sentences. (Look them up if you don't know)

Nash equilibrium- The Nash equilibrium has at least two or even more players. None of the people can get more by unilateral change of strategy even if the strategies remain unchanged.

Game theory- is where people deal with competitive situations. The outcome of someone’s choices depend critically on the other persons decisions.

Prisoner dilemma- two or more people might not cooperate in the prison and even if it strikes their interests. It was made by Merrill flood and Melvin Dresher.

I think that this game was alright it was all good if you kept cooperating till like the last round of the game and you could cut throat the computer. I played more than twice to see what it would do and it was a little different but it was like playing a person, because you can keep clicking cooperate and you both would tie up the hole entire game.

Give an example of Game Theory/prisoner dilemma:

In history: wars, trying to create a strategy to defeat the other opponent

In Government: trying to figure out the polls for the president

In economics: trading stocks and make sure it’s the right price

Related to sociology: 

Related to psychology: thinking of a plan

In your everyday life: to eat before a work out.

Tell me your thoughts on the oil pricing activity and the other group activities we did in class. 

It was interesting on how everyone was so competitive and it was fun to have like so we couldn’t see the score and all that. Fun to find out how people like back stabbed us.

               

On a scale of 1 to 10 with 10 being great rate the activities we have done in class with the unit.  What are some things that can be done to improve the overall unit?

10! And nothing really!