Static Games Flashcards
(12 cards)
1
Q
Weakly dominated strategy
A
- Iterative deletioon of weakly dominated strategies can depend on the order of deletion of the strategies
2
Q
Best response
A
3
Q
NE Def
A
- Each player’s response is a best response to the other player’s strategies
- Here, NE imposes correct conjectures about the other players play
4
Q
NE and mixed strategies
A
- To test whether a mixed strategy profile is a NE it suffices to consider only pure strategy deviations
5
Q
Mixed NE and pure strategies NE
A
6
Q
Existence of NE
A
7
Q
Existence of NE (contituous strategies)
A
8
Q
Normal form, bayesian game
A
- Normal form is specified with:
- Actions
- Payoffs
- Type spaces
- Joint probability distribution of the types
9
Q
Definition of BNE
A
10
Q
Implication of BNE
A
11
Q
Imperfect info and incomplete info definitions
A
- Imperfect info: there is uncertainty about some of the previously taken actions => there is at least one information set that is not a singleton.
- Incomplete information: there is uncertainty about some of the came payoffs (uncertainty about who they are playing against)
12
Q
Strategies in a bayesian game
A
- Pure strategy is a function from the space of types of the player on the space of actions.
- The space of strategies is the set of functions of the form described in the last bullet
