Dominant Strategy, Nash Equilibrium & Dominant Strategy Equilibrium in Simultaneous Move Games
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- เผยแพร่เมื่อ 7 ก.ค. 2024
- Hi Everyone, this video is intended as an introductory video to Simultaneous Move Games in Game Theory. I review the set-up of a game, Nash Equilibrium, Dominant Strategies and Dominant Strategy Equilibrium.
See here for a video showing three other examples of simultaneous move games, including some without dominant strategies: • Game Theory: Three Exa...
Here is one example without a Nash equilibrium: • A Simultaneous Move ga...
Introduction 0:00
Set-up of Simultaneous Move Games 0:27
Nash Equilibrium - Finding Best Responses 1:47
Mary's Dominant Strategy 3:25
Harley's Dominant Strategy 4:34
Finding Nash equilibrium from Best Responses 5:00
Dominant Strategy Equilibrium 6:28
Review 6:47
Thanks to all my subscribers xoxo
I am a sophomore at UW-Madison and i have my Econ 101 final today. Thank you for this thorough description, you just saved my grade!!!
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Thank you soooo much
Been suffering to understand but you made it easy
this vid helped me a lot, thank you very much.
this video is so clear to understand the Nash equilibrium (rather than my lectures) !!!!!!!! love it !!!!
I know the books are so confusing! It took me about a year to figure out but it's actually pretty straightforward lol. Thanks for the comment good luck with your studies! :)
I think this is a great intro to matrix or normal form games, as well as how to find dominant strategies and Pure Strategy Nash Equilibrium. The explanation is clear, easy to follow, and very helpful! Great video! I think one thing to note is that once you realize Mary has a dominant strategy to play Up you can cross out Down because Mary will never play it so you can make the game smaller using Iterative Elimination of Dominated Strategies.
Thanks you so much that’s really nice of you! Good point re eliminating dominant Ed strategies!
Your explanation was great ❤
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WOW, thank you so much! This was so helpful in understanding game theory!
You're very welcome! Glad to hear it helped!
This video saved me 3 hour of lecture lol. The best, thank u so much!
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Thank you for this video!
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Thank you so much for the clean and clear explanation...👍👍👍
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THANK YOU!! Great explanation👏
You're very welcome! Thanks for the comment and good luck with your studies!!
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Thanks .. it was easy to understand
I'm so glad! Thanks for the comment and the sub and good luck with your study!
this video helped me sooo much, thank you!
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You are GENIUS ❤
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Merci pour cette vidéo explicative, I got everything.
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Here 4 hours before my Midterm thank you!
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thanks for the explanation ur a lifesaver! 😁
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I finally understood game theory, thank you so much
You're welcome! Well done, thanks for the comment!!
Hey I liked your video super useful Nash equilibrium
Glad you liked it! Good luck with your studies!
Great presentation
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Always welcome!!! Good Luck with your study thanks for watching!
Helpful
I'm so glad! Thanks so much for the comment, I hope that your studies went well :)
Amazing explanation
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Best Explanation
Glad you think so! Good luck with your study!
Sydney you angel thank you!
:) So glad to help!! Thanks for the comment and good luck with your study!
So helpful
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thanks for the help...
Happy to help! good luck with your studies! 😁
@@econhelp_official My exam is around the corner as this video helped me a lot compared to those professors that made things complicated for my understanding...truly appreciated.
Nice
👍 Ta!
Very well explained. Thanks
You are welcome Mary! Thanks for the comment and good luck with your studies :) :)
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It's my pleasure! Thanks for the comment!
best friend
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saving my ass for econ 201 at oregon lol thankyou
What a video
thank you!! good luck with your course!
got a econ assignemt due in 5 hours with all this game theory nonsense in it, this video is sensational all love 🙏
Aw good luck!! Hope you do well, thanks for the comment 👍❤️
So this is invisible hand game right? And if it wasn’t sociable optimal outcome it’s prisoners dilemma.
Hi! I didn't intent this outcome at all, but I'll tentatively say that this is correct. Tentatively because I haven't thought about it much and I might be missing something.
Where's the link where there is no nash equlibrium. Plz provide the link
Hi! I forgot to make one so I just did a quick example: th-cam.com/video/EsYvW-irGsE/w-d-xo.html hope it helps!
is it a pure strategy nash equilibrium?
why? why not?
wouldnt the nash equilibrium be 10,10 and 5,5?
Hi! {Down, Down} is not a Nash Equilibrium because if this outcome obtained both players would have an incentive to deviate (note that you only need one player to have an incentive to deviate to disqualify as a NE but in this case both players will want to deviate). If Harley played 'Down', Mary (Player 1, Mary's payoffs are the first number) would not want to play 'Down', since if she plays 'Up' she gets 8, and that is bigger than 5 which is what she would get if she played 'Down'. If Mary Played 'Down' Harley would do better playing 'Up' (they would get 8) rather than 'Down' (they would get 5). So if they both played Down they would both have an incentive to deviate. {Down, Down} is a very unstable outcome. Does that help?
4:51 / 7:37
No sound in the video
Really? I can hear it, I wonder what happened, I’m sorry about that! I’ll ask TH-cam.
Who can help me in Games theory?
2:20
This game won't sell. It's too predictable. Everyone will always choose up.
i love you
Shucks thanks! ❤️❤️
Incentive for behaviour change based on profit seems a defeated purpose. People are still left with no care, no concern, no concideration. Are always going to be the animal acting in the animal social hierarchy as profit being the urine we claim territory with? How are we ever going to make it. This equilibrium is based on profit from products comparable to each other. So the quality is reduced instead of price. Now buying something means a piece of crap has been sold to you. It Probably will hurt you in some way "accidentally" sold anyway with no regard for human health nor environmental health. Damb such a crying shame.
In game theory you assume each player will act rationally.
Nice video though was helpful.
Happy to help
Please I really need your email
Econmathhelp at gmail dot com - it’s also on my profile! 👍