Hi Everyone, in this video I go through solving three different simultaneous move games. 00:00 Introduction 00:51 1st Example 03:21 Co-ordination Game 06:05 Prisoner's Dilemma • Video
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@parsariroagness5533 жыл бұрын
Thanks so much. This was very helpful
@econhelp443 жыл бұрын
You're very welcome!n Thanks for the comment!
@jonathanchen9587 Жыл бұрын
Such a life saver. You helped me understand this right before my quiz on game theory
@econhelp44 Жыл бұрын
Oh wow! Good luck, I'm so glad I don't have to do quizzes anymore haha. Hope you did well :)
@MridulMalani-ql6qb3 ай бұрын
+
@adrianamoran11593 жыл бұрын
this is a great video!! Thank you so much, you have saved me from failing my exam :)
@econhelp443 жыл бұрын
I'm so glad! Failing is the worst! I've failed before and I can tell you if you ever do fail, what matters is that you get back up :)
@adrianamoran11593 жыл бұрын
@@econhelp44 thank you for responding!! I have recommended your channel to everyone ☺️
@jonathanchen9587 Жыл бұрын
Thanks for helping me to understand game theory
@econhelp44 Жыл бұрын
No problem! Glad you liked it!
@user-fk7xv2kj7s7 ай бұрын
the best video about this topic, thanks
@econhelp447 ай бұрын
Glad it was helpful! Thankyou so much for the comment!
@shouryagupta132 жыл бұрын
Thank you so muchhh!! All the books have let me down.
@econhelp442 жыл бұрын
You're so welcome! Good luck with your study :) :)
@goodyyy61716 ай бұрын
❤ Thank you very much!
@econhelp444 ай бұрын
You're welcome! Thanks so much for the comment! Hope your studies went well!
@tomvoss3373 Жыл бұрын
it was nice to get some practice! thank you god bless :)
@econhelp44 Жыл бұрын
You're so welcome! Good luck with your study!
@liamr9807 ай бұрын
thanks gang this is fire you legend
@econhelp445 ай бұрын
No you are! (thanks for the comment)
@Sechaba009 ай бұрын
Thank you so much you made this so easy to understand. its beter than how i was taught. this is 25% of my exam
@econhelp449 ай бұрын
Yay! Good luck with your exam!!!! Thanks for the comment 😀
@shamirabintihamzah3902 Жыл бұрын
Btw, do you have any notes or recommendations on macro economics books that are easy to understand because I will be taking it for the next semester ? thank you very much. You have saved my future. hahaha
@econhelp44 Жыл бұрын
Hi Shamira, Macro is hard because I think the curriculum differs depending on where you are, so for example, Australian curriculum is a little different to the US. Given this, I strongly suggest that you concentrate on the text given by your lecturers (a good piece of advice in any case). Apart from this, I think Karlan and Morduch are pretty good. Hope that helps! :) Good Luck!!
@shamirabintihamzah3902 Жыл бұрын
@@econhelp44 thanks for replying and I think I should opt for your advice by concentrating on the notes given by my lecturers cause economics is a minor subject for my course. That's why I been having a hard time understanding it. I am more into finance and banking. 😆😃
@squeim65225 ай бұрын
I am French and I had to find a video in English to finally understand, thank you
@econhelp445 ай бұрын
Aww that's so nice thankyou. I'm really glad the video helped :)
@lensonsoul6532 Жыл бұрын
It is interesting, I wonder when I apply this strategy into real life, how I know the number in different quaters?
@econhelp44 Жыл бұрын
It depends! If you were considering firms as players you could use profit and assume that’s all they care about (a common assumption). For individuals you could ask how much a person would pay for an outcome, and this would give you a valuation- basically pretend everything is for purchase and nothing is for free. For instance, I would pay $50 for the rights to go for a walk, and $100 for access to the beach. Importantly, this shows that I value the beach more than the walk. With game theory the only thing that matters is how players rank different outcomes, rather than the value of the number per se, so understanding that order of preference is what we need. Does that help?
@lensonsoul6532 Жыл бұрын
@@econhelp44 thank you so much, it really help, I will try it out
@chijiokekenechukwu933410 ай бұрын
Thanks for this video, i learnt a lot from it. But please can you solve a game theory without Nash Equilibrum.
@econhelp449 ай бұрын
Here you go! A Simultaneous Move game with no Nash equilibrium kzbin.info/www/bejne/e6S8p4pjntd6qac
@mishaavalkova74624 ай бұрын
life saver
@econhelp443 ай бұрын
Good luck with your study!
@danielsaunders4058Ай бұрын
thank you
@econhelp4426 күн бұрын
You're welcome! good luck with your studies!
@user-hn7ov1mk7f6 ай бұрын
Please mma, can you pardon the introductory part of the game theory for because your voice is very clear.
@econhelp446 ай бұрын
Hello! I’m so sorry but I can’t quite understand the request. Do you want me to do a video on introductory game theory? I did do this one that covers introductory topics: kzbin.info/www/bejne/aXaynYV8bKqdgbcsi=7YyJVfNMglVS1wu8. Let me know if this is what you were after!
@sarahn393510 ай бұрын
Why the (price high , price high ) not a NE ? Thank you for ur amazing video
@econhelp4410 ай бұрын
hello, very sorry about the late reply, I had thought I answered this one. At {price high; price high} both players have an incentive to change their behaviour. At that point, either could price low and they would end up getting 40 instead of 20. Does that help?
@afyaa_alnidawinidawi1344 Жыл бұрын
best explintation ever...
@econhelp44 Жыл бұрын
Thanks, I'm glad you found it helpful!! Good luck with your course!
@curtismoxam53822 жыл бұрын
I don't agree with the first example, why would Mike settle for 7 when he can have 8?
@econhelp442 жыл бұрын
Mike’s choice is conditional on what Don does. So the best response to don playing ‘down’ is for mike to play ‘down’, and get 7 rather than 6. Down is also a best response to Don playing ‘up’ since 8 is larger than 5. There is never an option of Mike choosing between an outcome where they get 7 and one where they get 8 since this depends on whether Don chooses up or down- this is not Mike’s choice to make. Does that help?
@d.pereira20765 ай бұрын
@@econhelp44 Hi I love your videos. Thank you very much. Could you please do a video on prisoners dilemma of game theory?
@econhelp445 ай бұрын
@@d.pereira2076 Yes! Here's one video that addresses some things, hopefully I will get to the other tipics soon: kzbin.info/www/bejne/gXbJYYKdmp2NsK8
@econhelp444 ай бұрын
EDIT: I had a question about this that I'll reply to in this comment. Above, when I say Mike's choice is "conditional" on what Dan's does I don't mean to say that this is a sequential game. My wording wasn't great here. A better wording would be if I said "Mike's outcome (payoff) is conditional on what Don does". I think that's at the heart of the original issue. Additionally, when we consider best responses, we do think about conditional scenarios (if P1 does X then P2 will .... ) when we think about what a player will do, but this should not be thought of in terms of a sequential structure in the game, it's just representing the logic of the decision makers in the game.
@redwanalirafi3006 Жыл бұрын
thanks
@econhelp44 Жыл бұрын
Welcome! Thanks for the comment!
@ayoubbouaziz652 Жыл бұрын
I want a definite exercise I need it for my term paper and still have only 2 days, I also still cant grasp the whole material ,
@econhelp44 Жыл бұрын
Hi, did you check out the other video, it outlines the concepts in detail? kzbin.info/www/bejne/aXaynYV8bKqdgbc , perhaps it would be good if you google for some practice questions, I'll try to put up a couple of shorts tonight that go through some examples, if I can put my baby to sleep in time! :) Good luck