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Stag Hunt Game Models - Coursework Example

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This coursework talks about the game models in terms of both the evolutionary game theory and the standard game theory that can be applied to the stag hunt game which is a game that defines the conflict as well as the dilemma between social cooperation and safety…
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Stag Hunt Game Models
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Download file to see previous pages The coursework "Stag Hunt Game Models" presents the comparison of the evolutionary game theory and the standard game theory and how they can be applied to a stag hunt game.
In this kind of game, two players may choose to hunt a hare and a stag individually. Each player is however usually required to make their choices without letting it known to the other party. The two individuals must, however, seek the cooperation of each other in order to succeed in their game. For example, an individual can successfully hunt down and get a hare by hunting alone but a hare is considered to be worth significantly less than a stag. Consequently derived from stag hunt game is often used as one of the important analogies for social cooperation. There are also a number of other games that can also be effectively used to depict social cooperation. Some of these games include the prisoner’s dilemma and analysts believe it better than stage hunt with regard to its explanation of Social Corporation.
The primary difference between stag hunt game and the Prisoners dilemma is that the game usually involves two Nash equilibria in the event that both the two players cooperate or defect at the same time. Prisoners dilemma as a game generally involves a Pareto efficient cooperation between two players but as opposed to stag hunt, Nash equilibrium is only present in the event that both the two players decide to defect. In a stag hunt game, there is usually one side considered to be risk dominant while the other side is regarded as payoff dominant. ...Download file to see next pagesRead More
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