The elimination of the payoffs, comparing and cancelling the last player's least payoffs, and continuing until reaching the first player's payoffs were eye opening! Thank you so much. This was so helpful in creating an easy way to cancel out the least beneficial payoffs while easily showing the best payoffs/Nash EQ. My prof didn't teach us this and this video has been a game changer for my upcoming final exam. THANK YOU!!!
Great explanation. Game theory was one of my favorite subjects as an econ undergrad at UCLA. I wish more people had this basic understanding and saw how it drives decision-making in business, international conflicts and other areas.
Ashley. You got an extraordinary talent to explain topics from a student perspective. Last year you explained me the classical Game Theory, in a new module this semester we tackled backwards induction and I saw you again. And again great work! Thanks a lot! You are great! Best Regards from Germany. Jasmin (I'm male).
I watched this and the other video explaining the nash equilibrium... it was so clear and easy to understand this complicated games thing after me reading my textbooks over and over. Thank you so much!!! You are a legend
Excellent teacher, you are!!! You took a complex model, for those not used to these ideas, and explained it efficiently, simply, and expertly! Thank you.!
Hi Ashley, I have really appreciated your videos this weekend. I am sitting here reading all the articles out there, but you just totally nail it in eight and half minutes. Thank you so much!
Thank you so much Ashely. I watch too many videos in this subject, but I did not learned. After watching this video, I learned it in 5 minutes. You are awesome!
Finally found a video to understand Subgame perfect Nash Equilibrium. Must see for anyone who is having trouble understanding SPNE. Thanks a lot, Ashley :)
Hi Ashley! Thank you so much for uploading these for all of us! Im in a managerial economics course for my MBA and I have sent fellow students in the class to watch your videos (the best ones on TH-cam imo). I was wondering if you happened to have or could upload a simpler one for them with two players. Some are having difficulty understanding the two player game trees and this may be a bit overwhelming even though you've color coded and explain it perfectly!! Again, tysm!!!!
Yes. Backwards induction is the way to approach Stackleberg (Quantity Leadership) Oligopolies, no matter how many firms. th-cam.com/video/BqAvQWIilqk/w-d-xo.html&ab_channel=AshleyHodgson
@Ashley Hodgson thank you. Have you an example in extensive form game with 3 players? I mean a tree like the exemple of Ginny, and Voldemet and Harry where we want to find stackelberg equilibrium. If you have an exemple I will be grateful if you share it with me.
this was JUST PERFECT! thank you I needed to know this for my final in game theory this week I was struggling but THIS video finally made sense to me the internet is wonderful thank you for making this
So essentially game theory has nothing to do with right conduct since it’s used as progressive discipline at work and therefore it lacks any truth and justification as it’s not based on material facts and direct evidence, correct? This also is used in law.
Game theory is a theoretical framework, but tons of evidence points to the fact that it works well to explain many biological and economic phenomena. That is not to say that it "always" applies. But in cases where empirical evidence points to game theory, it performs well at predicting a variety of things.
3 hour lecture in 8 min..wonderful!!! Especially stating you can cross off the choices/nodes that will not be reached.
The elimination of the payoffs, comparing and cancelling the last player's least payoffs, and continuing until reaching the first player's payoffs were eye opening! Thank you so much. This was so helpful in creating an easy way to cancel out the least beneficial payoffs while easily showing the best payoffs/Nash EQ. My prof didn't teach us this and this video has been a game changer for my upcoming final exam.
THANK YOU!!!
Amazing! You just explained in less than 10 minutes what my professor could not in 1 month! Thank you!
Great explanation. Game theory was one of my favorite subjects as an econ undergrad at UCLA. I wish more people had this basic understanding and saw how it drives decision-making in business, international conflicts and other areas.
Ashley. You got an extraordinary talent to explain topics from a student perspective. Last year you explained me the classical Game Theory, in a new module this semester we tackled backwards induction and I saw you again. And again great work! Thanks a lot! You are great!
Best Regards from Germany.
Jasmin (I'm male).
why ur name is jasmin it's a girl name dude
@@Data_Devil_ In Bosnia, Croatia and Serbia. Jasmin is a male name and the female version is Jasmina. Like Andrea in Italy.
@@jasminhamzic5617LMAO. It’s ironic that the comments that were made about your name was based on the use of game theory and presumption.
I watched this and the other video explaining the nash equilibrium... it was so clear and easy to understand this complicated games thing after me reading my textbooks over and over. Thank you so much!!! You are a legend
Excellent teacher, you are!!! You took a complex model, for those not used to these ideas, and explained it efficiently, simply, and expertly! Thank you.!
Amazing, clean explanation. Hodgson has one of the best channels about Game Theory & Econ. in this patform.
Hi Ashley, I have really appreciated your videos this weekend. I am sitting here reading all the articles out there, but you just totally nail it in eight and half minutes. Thank you so much!
Thank you so much Ashely. I watch too many videos in this subject, but I did not learned. After watching this video, I learned it in 5 minutes. You are awesome!
Who else hits the like button even before watching? Your the best tutor ever
Finally found a video to understand Subgame perfect Nash Equilibrium. Must see for anyone who is having trouble understanding SPNE. Thanks a lot, Ashley :)
It hard to express my word of thanks in writing to you. You make game theory understandable.
Hi Ashley! Thank you so much for uploading these for all of us! Im in a managerial economics course for my MBA and I have sent fellow students in the class to watch your videos (the best ones on TH-cam imo). I was wondering if you happened to have or could upload a simpler one for them with two players. Some are having difficulty understanding the two player game trees and this may be a bit overwhelming even though you've color coded and explain it perfectly!! Again, tysm!!!!
Thanks, this really helped as its a quick and immediate dive into backward induction
Love the harry potter analogy! made it way easier to relate!
Dead simple and practical explanations as always. Thank you!
i am preparing my exam rn and this video help a lot!! thank you, Ashley
You're a wizard Ashley!
Great video, short to the point and explained really well!
best presentation love it saved my day
Excellent explanation. Thank you so much!
Thanks by far the best video for the topic
i just want to thank you so much for saving my grades, truly
This video truly saved me
thank you again Dr. Hodgson
May God bless you abundantly
Thank you for this clear explanation. Can we use backward induction to resolve Stackelberg in 3 players extensive form game?
Yes. Backwards induction is the way to approach Stackleberg (Quantity Leadership) Oligopolies, no matter how many firms. th-cam.com/video/BqAvQWIilqk/w-d-xo.html&ab_channel=AshleyHodgson
@Ashley Hodgson thank you. Have you an example in extensive form game with 3 players? I mean a tree like the exemple of Ginny, and Voldemet and Harry where we want to find stackelberg equilibrium. If you have an exemple I will be grateful if you share it with me.
Thank you for your video I will make my examen tomorrow I hope it's going to help me !!
this was JUST PERFECT! thank you I needed to know this for my final in game theory this week I was struggling but THIS video finally made sense to me the internet is wonderful thank you for making this
I would love to understand the algorithm behind the values
Amazing video! Thank you so much. Your explanations are very clear.
The second example shouldve containted a tie to express the fact that sometimes there are multiple backward induction solutions.
great video, my only question is how it the values of the payoff being determined? Unless it's totally random for this learning video.
Very helpful ! Thanks for the very clear lecture
You are awesome thank you for helping me understand this before my final I love the harry potter example by the way
Brilliant explanation!
Good explanation!
wow, you made this so easy
Great explanation, thank you!
thank you , finally understand tree game
Thank you so much for this good explanation!
i am so happy thank you so much...this was so easy to understand
This is amazing, thank you!
This video is really helpful. Thanks Ashley
is this nash equilibrium we are getting?
Is final outcome of backward induction in Nash equilibrium . If yes , is it sub game perfect nash equilibrium too ?
Ur writing is beautiful btw :))
This was very helpful. Thank you!
Very well explained. Can spmeone recommend video where you have this decision tree transformed into matrix? Like big table...
very useful, thanks a lot!
Great video thank you so much
This was so so amazing. Really helped me. Thanku!
how we make point for every move. thanks.
This is so great!!!
What happens when there is indifference between one of the two terminal histories .?
Thanks a lot, this is really great :)
Great video! Thank u
Very very helpful. Thank you.
thank you! So helpful!
Thank you!😭🫶🏾
This is amazing!!!!. Thank you!
What if ? The end node player is indifferent between two strategies..
Thank you soooo much for saving my brain😂😂😂😂
Amazing, thankyou for your help !
Very helpful. thank you
How to draw this tree from theory ??
Clear, thank you
Thanks
I get u madam
Love youuu
Thank you
I m wondering if the results would be the same if the game order between the players is changed...
No, it would not necessarily be the same.
What if at the last fork player 2 has two equal outcomes ? Let's say (... , 0) (... , 5) and (... , 5) you would crosso out one with 0 but then what ?
Awesome!
Señora la amo
Please I need books about sequential game please
Thank you!
Thank youuuu
thank you sm
life saver
I love you
how are the numbers calculated?
So essentially game theory has nothing to do with right conduct since it’s used as progressive discipline at work and therefore it lacks any truth and justification as it’s not based on material facts and direct evidence, correct? This also is used in law.
Game theory is a theoretical framework, but tons of evidence points to the fact that it works well to explain many biological and economic phenomena. That is not to say that it "always" applies. But in cases where empirical evidence points to game theory, it performs well at predicting a variety of things.
marry me ?
One more note from this video guys -- > she loves Harry Potter.😝😝
thank you