This post contains a video that covers the basic concepts behind game theory. Game theory is concerned with the analysis of strategies for dealing with competitive situations where the outcome of a participant's choice of action depends critically on the actions of other participants.
This video covers the following concepts:
• Simultaneous and sequential games
• Three type of games
• Prisoners’ Dilemma
• Chicken Game
• Battle of the Sexes
• Mixed Equilibrium
• Zero Sum Games
• First and Second Mover Advantages
• Bayesian Equilibrium
• Dominant Strategies
• Nash Equilibrium
• Tit for Tat
There will be several videos in this game theory series. The other videos will focus on particular areas in game theory such as adopting winning strategies and controlling the opposition.
The video can be watched at the link below:
The official Spectrum Economics website can be accessed at: https://www.spectrumecons.com
For more exciting videos go to my YouTube channel at https://www.youtube.com/channel/UCILwyLtjl7ZTlYOqFkAwLzw
You can find me on LinkedIn at: https://www.linkedin.com/in/waynedavies-spectrumecons/
You can also find me on Facebook at: https://www.facebook.com/SpectrumEconomics
