Game and Decision Theory
Explore strategic models; randomization and sequential games; uncertainty and collective decisions. Concepts and connections are available independently of video coverage.
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Best responses
A best response maximizes a player's payoff given opponents' strategies.
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Dominant strategies
A dominant strategy is at least as good against every opponent choice, with strength depending on the definition.
Nash equilibrium
At equilibrium no player gains by unilateral deviation while others keep their strategies.
Backward induction
Reasoning backward from terminal choices solves finite perfect-information games under appropriate preferences.
Bayesian games
Players' private types and beliefs extend strategic analysis to incomplete information.
Expected utility
Expected utility evaluates uncertain outcomes using probabilities and a utility function.
Knowledge connections
- Dominant strategies · Related · Map context
- Nash equilibrium · Related · Map context