We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Game Theory - Essay Example

Comments (0)
Summary
These elements are players, actions, information, and payoffs (Tadelis, 2013). In this scene, outlaw Vizzini, talks to the masked man, who challenged him to the game of…
Download full paper
GRAB THE BEST PAPER
Game Theory
Read TextPreview

Extract of sample
Game Theory

Download file to see previous pages... Vizzini was regarding himself as clever, and the masked man as a fool (Reiner, 1987). This speech also denotes the action. The action under consideration is putting poison into the goblets. This speech also contains acting on the basis of information.
For instance, Vizzini talks about a clever man, having knowledge that a fool will take what has been given to him. It is by acting on this knowledge that Vizzini denotes that he cannot take the wine that is in front of him. Information is also depicted when Vizzini further goes on to denote that the masked man had knowledge that he was not a great fool (Reiner, 1987). It is important to understand that in any game, players must always act from a point of knowledge. That is, they must have information regarding their competitors and opponents. Finally, there is a payoff in this speech. The payoff under consideration is choosing wine that is not poisoned. That is the reason as to why Vizzini tells that he cannot choose the wine in front of him, because it is likely that the wine has some poison. To win, Vizzini had to choose wine which did not contain poison, which was the payoff in this game (Reiner, 1987).
It is correct to denote that the consequence of our choices normally depends on the results of an action that emanates from us choosing to do something else. This concept is correct, and prove comes from my personal experiences. For instance, there was a period in time, when I was to engage in a game of wits with my friends. The game under consideration was to test our intelligence level by answering aptitude question. We were three, and we gave each other some two days for preparation. However, because of my belief in myself, I failed to prepare and revise for possible questions that make up an aptitude test. The result was that I was unable to beat off my friends, who were able to garner more than 70% of the scores. I only managed a mere 50% of the scores. ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Game Theory
Here, we are going to analyze what is known as game theory. Different types of theory are going to be explained at length in this paper, which include: game theory itself (the normal version); decision theory (one-person games); zero-sum games; two-person games; and n-person games.
12 Pages(3000 words)Research Paper
Outline and Evaluation of the Game Theory Explanation of the Difficulties Faced In Solving Collective Action Problems
Outline and Evaluation of the Game Theory Explanation of the Difficulties Faced In Solving Collective Action Problems Introduction In the attempt to settle scores and differences between different parties or countries, a majority of countries have considered forming coalitions so as to help them negotiate themselves through surviving competitive investment environment.
9 Pages(2250 words)Essay
Economics game theory paper
We start off by noting the micro-economic aspects of the consumer’s problem. We consider a rational and intelligent consumer seeking to purchase insurance. An individual consumer’s action of purchasing insurance is motivated by the need to protect against probable unwanted future outcomes.
5 Pages(1250 words)Essay
Game Theory
It takes into account of two cases namely; normal form and extensive form as shone bellow (McCain 25). The normal form will always reveal that both (R, 1) and (W, q) which are Nash equilibrium. However, But the previous relies on the unbelievable threat by the player 2 i.e.
3 Pages(750 words)Essay
Industrial Economics, Industrial Organization How can game theory help us to understand firm's interactions Discuss the differe
This game theory is of vitality in oligopolistic markets. In industrial economics, the profits of an industry or firm are highly dependent on not only how much it produces but also how much the other industry produces. This means that the payoffs of an industry for its production depend not only on their decisions but also on their rival’s decisions (Durlauf, 2010).
4 Pages(1000 words)Essay
The Game Theory
It is the study of Participants behaviour in strategic situations. A strategic situation has two or more interacting players whose decisions tries to anticipate actions and reactions by others. In a game the players act strategically to maximize personal utility.
4 Pages(1000 words)Essay
Game theory Essay
The purpose of the essay is to look at how the game theory cannot be applied in understanding these two scenarios with specific case studies. The two companies that will form the basis of this paper are Shell (declared the most profitable company in the United Kingdom in 2008) and Tesco; also one of the most profitable retail chain stores in the United Kingdom.
10 Pages(2500 words)Essay
Manager's journal: Making game theory work in practice
The application of Game Theory and an explanation of how it can be used in the real world have been presented in The Wall Street Journal by
3 Pages(750 words)Essay
Neural basis of game theory
In the cases of animals, it requires a highly adaptive decision making strategies for one to forecast various outcomes. Secondly decision makers can have favorites, in relation to consequences. This may result to bias
2 Pages(500 words)Essay
Game Theory
The author presents the mathematical and logical applications of the techniques of game theory in other diverse fields and provides useful merits on which different people can make logical and rational decisions. He also shows that game theories can also be applied to resolve relationship problems, or provide the rational moves for couples in relationships.
12 Pages(3000 words)Essay
Let us find you another Essay on topic Game Theory for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us