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Poli 205 > Class 10: Game Theory > Flashcards

Class 10: Game Theory Flashcards

1
Q

What are the ordered preferences for Chicken

A

Example: Brinkmanship crisis of the Cuban Missile Crisis.
hero>wimp>chicken>dead

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2
Q

What are the ordered preferences for stag hunt

A

stag>rabbit>nothing

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3
Q

What is Nash equilibrium

A

stability achieved when both players no longer have an incentive to change their choice

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4
Q

What are the assumptions of Rational Choice?

A

(1) Interdependence
(2) Preferences
(3) Exhaustiveness
(4) Maximization

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5
Q

Prisoner’s Dilemma (PD)

A

A situation in game theory where individuals, acting selfishly, create an unfavorable outcome for both when cooperation would lead to a better result

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Poli 205 (12 decks)

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