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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Expected utility evaluates uncertain outcomes using probabilities and a utility function.
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Players' private types and beliefs extend strategic analysis to incomplete information.
Rules are chosen to induce desired outcomes from strategic participants.
A mixed strategy is a probability distribution over pure strategies.
A probability measure assigns nonnegative weights to events, with total weight one and countable additivity on disjoint events.
Reasoning backward from terminal choices solves finite perfect-information games under appropriate preferences.
Explore strategic models; randomization and sequential games; uncertainty and collective decisions. Concepts and connections are available independently of video coverage.