Saturday, January 01, 2011

Game Theory

http://en.wikipedia.org/wiki/Benjamin_Polak   

http://en.wikipedia.org/wiki/Open_Yale_Courses -- Open Yale Courses

http://oyc.yale.edu/economics/game-theory/contents/syllabus.html -- This lesson I started to watch and learn.

Keynotes of Lesson 1

You should never play a strictly dominated strategy - Pareto Efficiency - http://en.wikipedia.org/wiki/Pareto_efficiency

Rational play by rational players can lead to bad outcomes - Price wars

To figure out what actions you should choose in a game, a good first step is to figure out what are your payoffs (what do you care about) and what are other players' payoffs.

If you do not have a dominated strategy, put yourself in your opponents' shoes to try to predict what they will do. For example, in their shoes, you would not choose a dominated strategy.

Yale students -Let's say people- are evil.

 

I like very much Open Yale Courses and Ben Polack :)

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