Game Theory

  • Game Theory and Grades

    ability? And the questions continue… Consider a hypothetical scenario where students to agree to spend a specific and significant amount of time in the common area everyday so everyone watches over the other. Students can choose to watch movies or pay games and everyone gets to watch what the others are doing. This will leave a reduced time for any prospective “cheater” to study extra in his/her own time. Ideally the system should be monitored by a third party, but what option do we have in this case

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  • Soccer Penalty and Game Theory

    people make a decision they think about the others and how they can react. Some decisions that one take depends sometimes on the choice of others. This paper is going to link social interaction with an economic principle. Soccer being a low-scoring game, matches often finish on a draw and need to be decided by penalties. In soccer, penalty kicks put the goal keeper against a striker in a tough mental contest. Indeed, it takes less than a half second for the ball to touch the net unless the goalkeeper

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  • Game Theory

    Situations economists and mathematicians call games psychologists call social situations. While game theory has applications to "games" such as poker and chess, it is the social situations that are the core of modern research in game theory. Game theory has two main branches: Non-cooperative game theory models a social situation by specifying the options, incentives and information of the "players" and attempts to determine how they will play. Cooperative game theory focuses on the formation of coalitions

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  • Game Theory Case Study

    outlets opening near them (Ruffenach 1992). Sally and Pete's conflict illustrates the detrimental effects to individual franchisees and the entire franchise of letting franchisees choose their own locations. Game theory texts (for example, Rasmusen 1989) include more general Hotelling models (games). Suppose that a franchisor wishes to open fast-food restaurants along a stretch of road four miles long. Potential customers cluster along mile markers (MM) 0, 1, 2, 3, and 4, with n customers in each cluster

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  • Game Theory Application on Pricing Strategies Used by the Retail Supermarket Industry

    Game Theory Application on Pricing Strategies Used by the Retail Supermarket Industry Everyday low pricing (EDLP) and High-Low Pricing are the most popular pricing strategies used by companies in the retail supermarket industry. In this part of the project, the two pricing strategies are analyzed using a game-theoretic framework and compared to the observed behavior of supermarket within the industry. First, the definitions of both strategies are provided to better understand the analysis. Everyday

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  • Essentials of Game Theory

    Essentials of game theory 1. Introduction Game theory is the study of strategic decision making. More formally, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers."[1] An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory.[2] Game theory is mainly used in economics, political science, and psychology, as well as logic and biology. The subject first addressed zero-sum games, such that

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  • Feminism and the Marxist Theory in the Hunger Games

    revolts, as a response to these rebellions the government of the Capitol has enacted a cruel intimidation tactic called The Hunger Games. It is a violent event televised nationally throughout all of the districts where a male and female from each district is picked as a Tribute. These Tributes must fight each other to the death and only one survivor will remain. The Hunger Games is the governments approach of displaying the amount of power they posses over the demoralized people of the twelve districts

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  • Game Theory

    Game Theory On Gallerie Apex Vs Bata Submitted to Abu Reza Mohammad Muzareba Lecturer Department of Marketing University of Dhaka Submitted by Group: Gamers Section: A Batch: 17th Department of Marketing University of Dhaka Submission date: 21th April, 2012 AbuReza Mohammad Muzareba Lecturer University of Dhaka Dept. of Marketing Subject: Letter of transmittal Dear

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  • Game Theory

    Is Game Theory the Right Kind of Game? Game theory is an analysis of a conflict of interest to find optimal choices that will lead to desired outcome under given conditions. It’s a study of ways to win in a situation given the conditions of the situation. Game theoretic concepts apply whenever the actions of several agents are interdependent. These agents may be individuals, groups, firms, or any combination of these. The concepts of game theory provide a language to formulate structure, analyze

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  • Game Theory

    Game Theory Themes 1. Introduction to Game Theory 2. Sequential Games 3. Simultaneous Games 4. Conclusion Introduction to Game Theory Game theory is the branch of decision theory concerned with interdependent decisions. The problems of interest involve multiple participants, each of whom has individual objectives related to a common system or shared resources. Because game theory arose from the analysis of competitive scenarios, the problems are called games and the participants are called

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  • Game Theory

    its own profits. (a) Write down the strategic form of this game. (b) Is there a strictly dominant strategy equilibrium of this game? Explain. (c) Is there a weakly dominant strategy equilibrium of this game? Explain. (d) What are the action profiles that survive Iterated Elimination of Strictly Dominated actions? Explain. (e) What are the action profiles that survive Iterated Elimination of Weakly Dominated actions? Explain. (f) Is the game dominance solvable? 2. Two people are engaged in a joint project

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  • One-Page Reaction Paper on Game Theory

    Game Theory is undeniably new to me. Its concept is just so brilliant that it made me rethink how I ought to see a business’ road to success. In the past, my key idea of winning in the industry was by toppling down competitors, and rising as the sole survivor in the war. Plainly, it’s a winner-take-all perspective. The real target was to capture the entire market then. After reading the theory and the cases suitably alluded to, realizations came to me that I’m way too far from the wisdom good strategists

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  • Game Theory

    Health Care Issues The most important issue in the future of healthcare in the U.S. is whether the Affordable Care Act is a step in the right direction to control rising healthcare costs and to provide all Americans access to health insurance. There are many other costs associated with healthcare in America. There are costs in losses of production and costs that could have been avoided if preventive healthcare had been more readily available. Another facet of the issue is whether Obamacare

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  • Internet Auctions and Game Theory

      1   INTERNET AUCTIONS AND GAME THEORY     Table  of  content   I.  INTRODUCTION ................................................................................................................................................ 3   II.  MAIN  PART........................................................................................................................................................ 4   1.  EBAY  AND  INTERNET  AUCTIONS  TYPES

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  • Introduction of Game Theory in Business Decision

    Game Theory in Business Decision | | | Content 1. Introduction -------------------------------------------------------------------- P.2 2. Main Models of Game Theory ---------------------------------------------- p.3-4 3. Nash Equilibrium ------------------------------------------------------------- p.5 4. Dominant Strategy ----------------------------------------------------------- p.5 5. Prisoners’ Dilemma ----------------------------------------------------------

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  • Game Theory

    Maths Presentation 21/01/09 Start with a brief timeline, including when applications to different areas were first used. Game Theory (i) Game Theory Introduction We begin with a simple, informal example of a game. Rousseau, in his Discourse on the Origin and basis of equality among men, comments: “If a group of hunters set out to take a stag, they are fully aware that they would all have to remain faithfully at their posts in order to succeed, but if a hare happens to pass near one of

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  • Game Theory

    Chapter 10 - Incentive Conflicts And Contracts CHAPTER 10 INCENTIVE CONFLICTS AND CONTRACTS CHAPTER SUMMARY This chapter provides an overview of incentive conflicts and contracting within firms. It begins by defining the firm as a focal point for a set of contracts. It then discusses the many incentive conflicts that exist between the parties that make up the firm. The role of contracts in reducing these conflicts is examined. The importance of asymmetric information in limiting the ability to

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  • An Introduction to Game Theory and Its Application

    ! ! An introduction to « Game Theory », and its applications. ! ! ! ! IBMEC - EM Strasbourg Business School ! ! ! ! ! ! ! GAME THEORY "1 SUMMARY ! ! ! ! ! A brief introduction to the origins of the Game Theory……………..…3 What is a game ?………………………………………………………….……4 What is the purpose of a game ?……………………………………….….….….4 What defines a game ?…………………………………………….…….…….….4 Typology of the actual know games………………………….……….……….…4 How can we represent a game ?……………………….………….………….…..5 Strategies

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  • Game Theory

    Game Theory∗ Theodore L. Turocy Texas A&M University Bernhard von Stengel London School of Economics CDAM Research Report LSE-CDAM-2001-09 October 8, 2001 Contents 1 What is game theory? 2 Definitions of games 3 Dominance 4 Nash equilibrium 5 Mixed strategies 6 Extensive games with perfect information 7 Extensive games with imperfect information 8 Zero-sum games and computation 9 Bidding in auctions 10 Further reading 4 6 8 12 17 22 29 33 34 38 This is the draft of an introductory survey

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  • Macys Game Theory

    Target, Lord & Taylor, and Hudson Bay Co. followed in suit by opening its doors on Thanksgiving. Macy’s now had the dilemma on their hands on what strategy they should do going forward. In order to determine their actions they implemented game theory in order to make the best possible decision. If Macy’s was to remain closed on Thanksgiving they would not only lose customers to other retailers on Thanksgiving, but they would also lose foot traffic on Black Friday as well. On the other hand

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  • Game Theory

    ya que las empresas son precio-aceptantes y por ello no existe el factor táctico antes señalado. 3.2. Diversos aportes a la Teoría de Juegos. Se conoce como fundadores de dicha teoría a Von Neumann y Morgenstern que publican en 1944 Theory of Games and Economic Behavior. Es preciso reconocer la labor realizada por diversos autores con anterioridad que sientan las bases donde se apoyan los autores y demás estudiosos que ahondan en el tema: * Cournot: Este matemático francés expone su

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  • Solution Manual for a Course in Game Theory

    Solution Manual for A Course in Game Theory Solution Manual for A Course in Game Theory by Martin J. Osborne and Ariel Rubinstein Martin J. Osborne Ariel Rubinstein with the assistance of Wulong Gu The MIT Press Cambridge, Massachusetts London, England This manual was typeset by the authors, who are greatly indebted to Donald Knuth (the A creator of TEX), Leslie Lamport (the creator of L TEX), and Eberhard Mattes (the creator of emTEX) for generously putting superlative software

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  • Game Theory

    March 25, 2014 Game Theory “Game theory is the study of strategic interaction among rational players in an interactive setting” (Stevens, Lecture 1). Elements of a game consist of common knowledge, the players, strategies and payoffs. Every other Friday night my wife and I play cards at our friend’s house and it generally gets more intense as the game and the drinks progress. We mainly play a card game called spades and we play as partners. Common knowledge in this game is every player knows

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  • Game Theory and Strategic Behavior

    Game Theory and Strategic Behavior Exam 3 Part II 28/04/2013 Exam 3 Part II Game Theory and Strategic Behavior The main point of the paper is the paradox between theoretically predicted equilibrium and Nash equilibrium. Results of the research state that people often act differently and there is no model of behavior. Most of actions are spontaneous and it is provoke by kind of emotion conditions

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  • Game Theory

    GAME THEORY & ASYMMETRIC INFORMATION LITERATURE REVIEW NATHALIA PALOMINO ID# 0501605 MARCH 1, 2014. FACILITATOR: SHELLEY WHITTLE Introduction This paper will firstly address game theory, Prisoners Dilemma which is a very prominent game and Bargaining. Asymmetric Information is also discussed along with a few examples of how asymmetric information relates to the business environment. The writer gives the reader a basic understanding of game theory and asymmetric information uses in a

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  • Game Theory in Economics

    Game theory is a concept of decision making that considers more elements beyond just benefits minus costs. Specifically, it includes the interaction between participants. In economics, the theory attempts to predict the participants’ optimal decisions. It has found a core place in economic decision-making and policy-making for its inherent ability to predict reactions in resource allocation, business negotiation, and other economic aspects. Game theory is mostly associated with decision-theory and

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  • Game Theory

    and Playing a Game” Objectives: * Learn how individuals contribute to teamwork. * Experience some of the features of group work and teamwork. * Understand what managers and organizational developers do to transform groups into teams. * Articulate the tangible benefits (both quantitative and qualitative) of high-performing teams. * Finish with an interest in learning more about these concepts and techniques to apply what you learn. Background: In game theory, there are non-cooperative

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  • Bus 640 Week 6 Dq 1 Game Theory and Strategic Behavior

    In this file of BUS 640 Week 6 Discussion Question 1 Game Theory and Strategic Behavior you will find the next information: Based on this information, can GE successfully prevent Maytag from entering this market by increasing its advertising levels? What is the equilibrium outcome in this game? Suppose that an analyst at GE is convinced that just a little bit more advertising by GE, say another $2m, would be sufficient to deter enough customers from buying Maytag, thus, yield less than

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  • Game Theory

    Evaluate psychological research (that is, theories and/or studies) relevant to the study of abnormal behaviour . Before diagnosing, it is key that the terms ‘abnormality’ and ‘normality’ are defined. Onedefinition/some definitions are... Abnormality can be defined as atypical behaviour out of social and cultural norms that are disturbing to oneself and others and that is maladaptive and unjustifiable to themselves or others. The concept however is difficult to grasp as there may become exceptions

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  • Game Theory

    shows how the analogies between monopoly theory and auction theory can help derive new results in auction theory. (JEL D44, G34) There are close analogies between standard price theory and the theory of auctions. In an absolute English auction, in which the price rises continuously until only one bidder remains and the seller is required to accept the final bid, the sale price equals the lowest competitive price at which supply equals demand. In the theory of optimal auctions the seller is treated

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  • Application of Game Theory in Biman Bangladesh Airlines

    Application of Game Theory In Biman Bangladesh Airlines Application of Game Theory In Biman Bangladesh Airlines Submitted to, XXX Lecturer Department of YYY University of ZZZ Submitted by, Group “Oracles” 17th Batch B section Date of Submission: 19th March, 2012 Dated: 19th April, 201 XXX Lecturer Department of YYY University of ZZZ Subject: Solicitation for acceptance of the Report on “Application of Game theory in Biman Bangladesh Airlines”

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  • Game Theory Introduction

    Game Theory Background An Illustrative Example Course Structure Introduction to Game Theory Econ 414 Jeff Borowitz Summer I 2010 Jeff Borowitz Introduction to Game Theory 1 / 18 Game Theory Background An Illustrative Example Course Structure Rational Choice What is Game Theory? Game Theory is really “Multi-Party Decision Theory” Outside of game theory, we think of just one actor (firms maximizing profits, workers deciding how much to work, etc.) Decisions involving many

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  • Game Theory

    there has been an increasing interest in the economics of religion. This literature is growing substantially, specially since the work of Iannaccone ( e.g. [1984], [1990], [1992]). The main idea of this field is to use the tools provided by economic theory to analyze questions about the allocation of time and resources to religious activities, the choice of religious denomination, competition among religious groups, etc. Even though the main object of study of sociology (and economics in particular)

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  • Game Theory

    Assignment 3 ------------------------------------------------- 1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt. Driver 2 Left Right Driver 1 Left 0, 0 -1000 -1000

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  • Game Theory

    is understood as a plan that chooses an individual’s future possible position. Speaking with respect to Game Theory within the Healthcare field, there are many ways to move forward with creating this ideal insightful approach. Learning through class discussions, it’s clear the topic of the discussion with Game Theory is very evolved, diverse, and dynamic with all different observations. All games share an interdependence meaning the result for each individual is dependent on the option they primarily

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  • Game Theory

    A game is any situation of conflict with at least two players (it may be a person, company). Each side chooses some kind of behavior (strategy) to get the best payoff. Game theory is a way to study conflicts and strategies used to get best results. The decision process is made without full knowledge and that’s what drives people engage into game to strategize to get as good output as possible- perfectly to win everything or at least to lose as little as possible. Game theory as a mix of psychology

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  • Game

    For hundreds of years game animals have been hunted throughout the world. Deer, elk, rabbit, squirrel, ducks, geese and wild turkeys are hunted in the United States. Unregulated hunting has seriously threatened some species of wildlife. Here are a few examples. Herds of buffalo that once numbered in the millions were nearly wiped out by hunters in the 19th century. They were killed for enjoyment and profit. By 1895 only 400 remained in the United States. In the west pronghorn and deer populations

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  • Introduction of Game Theory

    CS905N Lect 1 notes Game Theory Game Theory can be regarded as a multi-agent decision problem. Which means there are many people contending for limited rewards/payoffs. They have to make certain moves on which their payoff depends. These people have to follow certain rules while making these moves. Each player is suposed to behave rationally. Rationality: In the language of Game Theory rationality implies that each player tries to maximize his/her payoff irrespective to what other players are doing

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  • Game Theory and the Prisoner's Dilemma

    Game Theory and the Prisoner’s Dilemma Business Strategy Antoinette Monteiro Grand Canyon University DBA 815 January 13, 2016 The Definition of Game Theory The game is the object of game theory, which is an interactive situation. There are several players involved in the situation; a game with only one person is a decision problem. According to game theory, the players, their preferences, their information, the strategic actions available to them, affects the outcome. Game theory is conflict

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  • Assumptions and Keywords in Game Theory

    A BRIEF INTRODUCTION OF ESSENTIAL ASSUMPTIONS AND DEFINITION OF SOME KEYWORDS IN GAME THEORY There are a number of assumptions in game theory; some of the assumptions identified by Varian (1992) can be explained as follows: we assume that the descriptions of the game (such as the payoffs and the strategies available to the players) are common knowledge. That is, each player knows his own payoffs and strategies, and the other player's payoffs and strategies. Furthermore, each player knows that

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  • Game Theory

    concepts of demand theory to models with or without prices. The first concept to be extended is the notion of substitutes. * Our definition ap-plies essentially the Roth-Sotomayor substitut-able preferences condition to a more general class of contracts: contracts are substitutes if, whenever the set of feasible bilateral contracts expands, the set of contracts that the firm rejects also expands. * We show that (a) our definition coincides with the usual demand theory condi-tion when both

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  • Game Theory

    Managerial Economics 2010 1. A. Design a simple two-company game that illustrates why it might have been in economic interests of the cigarette companies to support the ban. In designing the game, assume that there is no regulation and that the two firms simultaneously choose between advertising and not advertising. Display your hypothetical payoffs in strategic form (see Figure 9.1) and highlight the Nash equilibrium. Explain the intuition for why the firms in your example would favor regulation

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  • Game Theory

    econômicas, em organização industrial, política antitruste e regulação, em teoria de leilões, em estrutura penal ótima e em Se você estiver pensando em algum jogo no qual não há outros jogadores em “carne e osso” como você, como é o caso de diversos vídeo-games, lembre-se que você está jogando contra a máquina. Da mesma forma, alguém que está jogando “paciência” está jogando contra o baralho. 2 Os outros dois foram John Harsany e Reinhard Selten. 1 4 muitos outros casos -, mas não se restringe a ela:

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  • An Interpretation of Function of Leadership Using Game Theory.

    An interpretation of function of leadership using game theory. This paper seek to provide a generalisation of the function of leadership using game theory. Assuming there are 2 ends of spectrum of people- extreme rational and extreme irrational people. Most people will lies within the spectrum with only a handful of them representing extreme rational or extreme irrational. Dixit (2004) define rationality as having 'two essential ingredient: complete knowledge of one's own interests, and flawless

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  • Game Theory

    competition and strong willingness of corporation, the price may be bid up beyond their real value, but to a small extent because of winner’s curse concern. Yet, for the case of sealed bid auction, bidders are more rational since it is a simultaneous game and one could not observe the actions of rivals. To avoid winner’s curse, bidders will bid on the fair value or even on the value lower the estimated fair value. Thus, in terms of estimated auction revenue, Alpen should adopt open auction. Appendix

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  • The Game Theory

    What are the advantages and disadvantages of different Trade Barriers • what the trade barriers are Trade barriers are government regulations that put restrictions on types of international trade. Most countries have trade barriers that are set up to best fit the needs of their respective government, These restrictions may increase costs to goods and services, producers, businesses, and customers, and may include taxes and tariffs, as well as other non-tariff barriers, such as regulatory legislation

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  • Game Theory and Strategy

    Game Theory and Strategy Spring 2012, Assignment 2 The assignment must be done by 6-00 p.m. May 1st. You should submit your assignment assignments before the class begins. Good luck! Part 1 (30%) For multiple choice questions choose a letter corresponding to your answer. For true- false questions the answer is “TRUE” if you agree with the sentence and “FALSE” otherwise. 1. Mixed strategy is A) When a player plays different actions in response to different actions taken by other players

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  • Game Theory

    Game theory is the method utilized to understand the behavior of oligopolies or market situations in which each of a few producers affects but does not control the market. Unlike monopolies in which a company has complete control of the entire supply of goods and/or services in a certain market, oligopolies do have competitors with in the market. However, unlike monopolistically competitive firms and perfectly competitive firms, firms within a oligopolistic frame work have so few competitors that

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  • Game Theory

    Game Theory Game A game is a formal description of a strategic situation. Game Theory Game theory is the formal study of decision-making where several players must make choices that potentially affect the interests of the other players. Mixed Strategy A mixed strategy is an active randomization, with given probabilities, that determines the player’s decision. As a special case, a mixed strategy can be the deterministic choice of one of the given pure strategies. Nash Equilibrium A Nash

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  • Video Games and Sociological Theory

    Video Games and Sociological Theory July 22, 2012 Video games have become as pervasive an aspect of our society as television, with many people spending more time playing video games than watching television. There are many perspectives with which to gauge videos games’ effect on society, from a functionalist, conflict or interactionist perspective. (Schaefer, 2011) Each of these sociological theories can provide a different view of video games, how they affect society and the subcultures

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