Micro: Unit 4.9 -- Game Theory

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Explain how game theory works
- Discuss a game theory matrix, including players, strategies, and payoffs
- Go over the "Prisoner's Dilemma" game, including the preferred strategies for
each player and the outcome of the game
- Investigate strategies and outcomes, including the dominant strategy,
the dominated strategy, the Pareto Optimal outcome, and the Nash Equilibrium
- Provide several game theory scenarios to demonstrate how firms use strategic
decisions to maximize profits in oligopolistic markets, including games with
and without dominant strategies
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[@Antowan]

I just finished my semester of intermediate micro game theory was one of the best parts

[@niharxavier3791]

whats even the point mr willis we have failed the micro exam