Dominant Strategy, Nash Equilibrium & Dominant Strategy Equilibrium in Simultaneous Move Games

Hi Everyone, this video is intended as an introductory video to Simultaneous Move Games in Game Theory. I review the set-up of a game, Nash Equilibrium, Dominant Strategies and Dominant Strategy Equilibrium.
See here for a video showing three other examples of simultaneous move games, including some without dominant strategies: • Game Theory: Three Exa...
Here is one example without a Nash equilibrium: • A Simultaneous Move ga...
Introduction 0:00
Set-up of Simultaneous Move Games 0:27
Nash Equilibrium - Finding Best Responses 1:47
Mary's Dominant Strategy 3:25
Harley's Dominant Strategy 4:34
Finding Nash equilibrium from Best Responses 5:00
Dominant Strategy Equilibrium 6:28
Review 6:47
Thanks to all my subscribers xoxo

[@jakemarshall1571]

this vid helped me a lot, thank you very much.

[@keziapappoe6821]

Thank you soooo much Been suffering to understand but you made it easy

[@janesele]

Your explanation was great ❤ I just subscribed, there is a lot to Learn here. Kudos

[@user-mq2sf3mv9n]

WOW, thank you so much! This was so helpful in understanding game theory!

[@econhelp44]

You're very welcome! Glad to hear it helped!

[@ellieg5636]

I am a sophomore at UW-Madison and i have my Econ 101 final today. Thank you for this thorough description, you just saved my grade!!!

[@econhelp44]

Ooooo goodluck! @Ellie_G!!! Big deep breaths, I hope you do really well!!

[@chuanmingjiang8292]

this video is so clear to understand the Nash equilibrium (rather than my lectures) !!!!!!!! love it !!!!

[@econhelp44]

I know the books are so confusing! It took me about a year to figure out but it's actually pretty straightforward lol. Thanks for the comment good luck with your studies! :)

[@InCaseofEconStruggles]

I think this is a great intro to matrix or normal form games, as well as how to find dominant strategies and Pure Strategy Nash Equilibrium. The explanation is clear, easy to follow, and very helpful! Great video! I think one thing to note is that once you realize Mary has a dominant strategy to play Up you can cross out Down because Mary will never play it so you can make the game smaller using Iterative Elimination of Dominated Strategies.

[@econhelp44]

Thanks you so much that’s really nice of you! Good point re eliminating dominant Ed strategies!

[@patrickkamei5]

Thank you so much for the clean and clear explanation...👍👍👍

[@econhelp44]

You're welcome, thankyou so much for the comment, hope the studies went well!

[@ethanvirtudazo1657]

Thank you for this video!

[@econhelp44]

You are welcome! Thanks for the comment!

[@furumibbyong957]

This video saved me 3 hour of lecture lol. The best, thank u so much!

[@econhelp44]

Glad it helped and thanks so much for the comment! 😊😊😊

[@choco_krispies2]

THANK YOU!! Great explanation👏

[@econhelp44]

You're very welcome! Thanks for the comment and good luck with your studies!!

[@suryansh8069]

Thanks .. it was easy to understand

[@econhelp44]

I'm so glad! Thanks for the comment and the sub and good luck with your study!

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[@econhelp44]

Aw thank you! love from Australia right back at you! Ps love your picture (koala!)

[@ethanprinter]

Hey I liked your video super useful Nash equilibrium

[@econhelp44]

Glad you liked it! Good luck with your studies!

[@user-dw5qc4ln7y]

thanks for the explanation ur a lifesaver! 😁

[@econhelp44]

You're welcome! Thanks for the nice comment! ❤️

[@jeje-16283]

Merci pour cette vidéo explicative, I got everything.

[@econhelp44]

I’m so glad! Thanks for the comment ❤️🙏

[@ericcastelli1196]

I finally understood game theory, thank you so much

[@econhelp44]

You're welcome! Well done, thanks for the comment!!

[@fayyozaqilichova1749]

Thank you so much. 😊

[@econhelp44]

You’re welcome!

[@matthewjessup5521]

Thank you so much

[@econhelp44]

You're welcome! Thanks for the comment :)

[@dheerajhazarika1836]

Great presentation

[@econhelp44]

Thank you! Glad you liked it!

[@famcha84]

Thank you so much ❤❤❤❤

[@econhelp44]

Always welcome!!! Good Luck with your study thanks for watching!

[@Dopvv]

You are GENIUS ❤

[@econhelp44]

Haha I wish 😀 glad you found it useful!

[@maryagyakoma1128]

Very well explained. Thanks

[@econhelp44]

You are welcome Mary! Thanks for the comment and good luck with your studies :) :)

[@Marco-Mandy]

Amazing explanation

[@econhelp44]

That's so nice of you to say! Thanks so much for watching! ❤️❤️

[@shamirabintihamzah3902]

thanks for the help...

[@econhelp44]

Happy to help! good luck with your studies! 😁

[@shamirabintihamzah3902]

@@econhelp44 My exam is around the corner as this video helped me a lot compared to those professors that made things complicated for my understanding...truly appreciated.

[@brighttchoka8109]

Best Explanation

[@econhelp44]

Glad you think so! Good luck with your study!

[@anglonrx2754]

So helpful

[@econhelp44]

Glad you think so! Good luck with your study!

[@aurielove9177]

Sydney you angel thank you!

[@econhelp44]

:) So glad to help!! Thanks for the comment and good luck with your study!

[@eltonloverboy]

Helpful

[@econhelp44]

I'm so glad! Thanks so much for the comment, I hope that your studies went well :)

[@ombreoffduty2209]

Here 4 hours before my Midterm thank you!

[@econhelp44]

Wow goodluck!!! Hope you do well :)

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Madam . I really appreciate 💪💪💪

[@econhelp44]

It's my pleasure! Thanks for the comment!

[@user-zn4yq7fu7i]

Nice

[@econhelp44]

👍 Ta!

[@saittarius]

is it a pure strategy nash equilibrium? why? why not?

[@user-dx1pr4ge8l]

best friend

[@econhelp44]

🥰 *hugs* you're so nice !! 🥰

[@budward9022]

saving my ass for econ 201 at oregon lol thankyou

[@limanath569]

Where's the link where there is no nash equlibrium. Plz provide the link

[@econhelp44]

Hi! I forgot to make one so I just did a quick example: kzbin.info/www/bejne/e6S8p4pjntd6qac hope it helps!

[@jackthompson2367]

So this is invisible hand game right? And if it wasn’t sociable optimal outcome it’s prisoners dilemma.

[@econhelp44]

Hi! I didn't intent this outcome at all, but I'll tentatively say that this is correct. Tentatively because I haven't thought about it much and I might be missing something.

[@ollie6110]

got a econ assignemt due in 5 hours with all this game theory nonsense in it, this video is sensational all love 🙏

[@econhelp44]

Aw good luck!! Hope you do well, thanks for the comment 👍❤️

[@zone.9106]

wouldnt the nash equilibrium be 10,10 and 5,5?

[@econhelp44]

Hi! {Down, Down} is not a Nash Equilibrium because if this outcome obtained both players would have an incentive to deviate (note that you only need one player to have an incentive to deviate to disqualify as a NE but in this case both players will want to deviate). If Harley played 'Down', Mary (Player 1, Mary's payoffs are the first number) would not want to play 'Down', since if she plays 'Up' she gets 8, and that is bigger than 5 which is what she would get if she played 'Down'. If Mary Played 'Down' Harley would do better playing 'Up' (they would get 8) rather than 'Down' (they would get 5). So if they both played Down they would both have an incentive to deviate. {Down, Down} is a very unstable outcome. Does that help?

[@user-in6qc4gx8g]

4:51 / 7:37

[@lukamahenge5117]

What a video

[@econhelp44]

thank you!! good luck with your course!

[@user-ts7xd2zd8i]

Who can help me in Games theory?

[@yashdeepchhillar7683]

No sound in the video

[@econhelp44]

Really? I can hear it, I wonder what happened, I’m sorry about that! I’ll ask KZbin.

[@tomekpartyka8632]

i love you

[@econhelp44]

Shucks thanks! ❤️❤️

[@Ggdivhjkjl]

This game won't sell. It's too predictable. Everyone will always choose up.

[@BruceStoufflet-yv3od]

Incentive for behaviour change based on profit seems a defeated purpose. People are still left with no care, no concern, no concideration. Are always going to be the animal acting in the animal social hierarchy as profit being the urine we claim territory with? How are we ever going to make it. This equilibrium is based on profit from products comparable to each other. So the quality is reduced instead of price. Now buying something means a piece of crap has been sold to you. It Probably will hurt you in some way "accidentally" sold anyway with no regard for human health nor environmental health. Damb such a crying shame.

[@efggaming28]

In game theory you assume each player will act rationally.

[@SamEbby]

Nice video though was helpful.

[@econhelp44]

Happy to help

[@makitoyeboah4575]

Please I really need your email

[@econhelp44]

Econmathhelp at gmail dot com - it’s also on my profile! 👍