Game Theory A definition of Game Theory or something that appears to be a definition may be applied as such: An analytical or mathematical approach of examining strategic interaction when dealing with competitive situations in business decisions. As Keat, Young & Stephen () did not give a clear definition of Game Theory Mar 04, · Free Term Paper on Game Theory: Game theory is the system of methods which help to make the right decisions in different situations. Generally, game theory was created for mathematics as the method to predict certain results in different tasks related with mathematics. Later game theory became used in sports to predict the results of various sport competitions Optimal Decision Making Measures Using Game Theory Research Paper Game Theory The earliest conceptualization of game theory is by Cournot in where the analysis sought to clarify choices and actions taken in a duopolistic market[footnoteRef:1]
Game Theory Research Paper - iResearchNet
View sample political science research paper on game theory. Term paper game theory other research paper examples for more inspiration. If you need a thorough research paper written according to all the academic standards, you can always turn to our experienced writers for help. This is term paper game theory your paper can get an A! Feel free to contact our writing service for professional assistance.
We offer high-quality assignments for reasonable rates. Game theory is a branch of applied mathematics that is used to model multiactor interdependent decision making. Game theory is widely used in many social science disciplines, term paper game theory, including political science, economics, sociology, and anthropology, where researchers are interested in outcomes when at least two actors interact with certain purposes.
Game theory is a method of modeling. A usual game theoretic model specifies some essential aspects of a situation of interest and tries to make logical inferences about ensuing outcomes given the initial setup. There can be a simple election model, term paper game theory, for instance, where there are two candidates who want to win the election and n voters who want to elect the candidate who is going to make policies that are beneficial for the voters.
Two candidates announce their respective policy platforms, term paper game theory, and voters vote. Whoever gets the majority of votes wins and makes policies.
Given the initial setting, the solution to the game provides logically deduced inferences about outcomes of interest, such as who can win under which conditions and which policies should follow. In modeling a situation, a game theoretic model captures only essentials and inevitably leaves out unnecessary details. Thus, a game theoretic model does not and cannot perfectly reflect the reality. Thus, a game theoretic model may seem too abstract. Indeed, one of the common criticisms of game theory is that game theoretic models are too unrealistic.
Yet abstraction is common for any kind of modeling. For instance, a model of an airplane or a model of an automobile usually does not feature every nut and bolt of an actual airplane or automobile, term paper game theory. Instead, the models would probably have a cockpits and wings for airplanes and doors, tires, and wheels for cars, yet they would probably not have emergency oxygen masks, all cockpit buttons, and term paper game theory detectors in the restrooms of airplane models and cup holders and detailed electrical lines connecting batteries to different parts of car models.
Yet these models may still be useful for certain purposes. Similarly, a game theoretic model capturing the relationship between Congress and bureaucrats may feature only two actors even though Congress and bureaucrats are not unitary actors but rather composed of groups of individuals in reality. Congress and bureaucrats in the model would also be assumed to have a few primary goals, such as reelection and budget maximization even though there are many other potential motivations for each actor.
Yet as is the case for the automobile and airplane models, the model can still be proven to be useful to study the relationship between Congress and bureaucrats. There is no golden rule as to how abstract or realistic a model should be. In addition, term paper game theory, there term paper game theory a number of ways to model a situation by emphasizing certain aspects of the situation at the expense of other aspects being bracketed. Thus, it is hardly possible to tell if a model in itself is either right or wrong.
Instead, a model can be judged term paper game theory how useful and applicable it is to a modeled situation. Generally speaking, a researcher can make a model resemble the reality more faithfully with many details, but in doing so, term paper game theory, the researcher has to face the usual trade-off between details and generalizability.
That is, a detailed model may capture a particular situation more accurately but not be generalizable beyond the particular situation. A more abstract model, in contrast, may be more general and applicable to a broader set of situations but may seem too unrealistic to approximate a particular case.
In addition, each addition of details would make the model more complicated and make the math difficult or even analytically intractable. Game theory is often called a method.
But it is important to acknowledge the difference between methods of modeling like game theory and methods of empirical testing, which usually refers to research methods. Essentially, game theory is a method of term paper game theory or modeling, term paper game theory, as opposed to a method of empirical testing such as regression analysis, factor analysis, term paper game theory, longitudinal analysis, and other qualitative and quantitative research methods introduced in other research papers.
The critical difference is that a method of theorizing is used to generate hypotheses or expected relations between important and interesting factors under research investigation while a method of empirical testing examines if and how well the generated hypotheses match real data, term paper game theory. Thus, the two methods are complementary, term paper game theory. Often, scholars use a method of theorizing such as game theory in the theoretical section of a research study to generate hypotheses and then use an appropriate research method to test the hypotheses in an empirical section in a single study.
For instance, a game theoretic model in a study may generate the hypothesis that states the following: As trade between Country A and Country B increases, the probability of an interstate conflict between A and B increases.
Then an appropriate empirical method such as binomial logit or probit analysis in the study can be installed to see if the stated hypothesis holds in reality with actual trade and conflict data sets. Game theory is used to capture multiactor interdependent decision making processes. Naturally, then, there should be more than one actor making decisions in the models.
This differentiates game theory from decision theory, which models a single-actor decision-making process. Also, the ensuing outcome term paper game theory thus the ensuing payoff of the multiactor decision making should be interdependent in a game theoretic model.
In other words, the final outcome needs to be jointly determined by actors involved in the model. The rock-paper-scissors game is a good example. More than one player is needed to play this game, and the outcome is jointly determined by the decisions of both actors. Player A can take one of three actions: rock, paper, or scissors.
Likewise, Player B can take one of the same three actions. And the outcomes, A wins and B loses, the game is tied, or A loses and B wins, are jointly determined by the actions that Term paper game theory A and Player B take. Since many social scientific research questions term paper game theory about outcomes that result when multiple actors interact, game theory can be very useful in making inferences about potential outcomes in multiactor decision-making situations.
Indeed, game theory has become increasingly popular in many social science disciplines for the past half century or so. In economics, where the use of game theory had been accepted earlier than in political science, term paper game theory theory has been applied to model interactions between different sets of economic actors. For instance, economists have used game theory to model behaviors of competing firms, wage bargaining between a labor union and management, behaviors of producers and consumers, and competition among bidders at an auction.
In political science, scholars have applied game theory to model term paper game theory of competing candidates in an election; the interaction between candidates and voters; the interactions between a bureaucratic agency and Congress; the interactions between the executive and the legislative branches in American politics; behaviors of states involved in interstate militarized disputes; behaviors of states in trade disputes; alliance behaviors; the role of mediators in conflicts; negotiations among states over design of international organizations in international politics; negotiations between parties to form, continue, and dissolve a coalition government; intrastate conflicts between factions in a country; and interactions between a government and an opposition in comparative politics.
This research paper introduces the basics of game theory and reviews the use of game theory in political science. In term paper game theory next section, a few basic components of game theory and important terminology are introduced. Then a few representative examples of the use of game theory in various political science contexts are discussed.
The discussion focuses particularly on three representative examples drawn from each of three subfields of political science: American, comparative, and international politics. These examples are among the most well known and widely cited and have made major contributions to the understanding of political phenomena.
In the concluding section, term paper game theory, a recap of the research paper is provided, and the ongoing effort of moving game theoretic models forward and the future of game theory are briefly discussed. A game refers to a strategic situation that involves at least two rational individuals called players. A rational player is one who engages in goal-directed behavior—one who has well-defined goals, such as vote maximization or term paper game theory maximization, can order her or his preferences over alternative outcomes given a set of alternatives, and chooses the best alternative s for the realization of the given goals, term paper game theory.
Then each would have a set of alternatives that he or she needs to make a choice over, such as where to spend time and energy during the campaign, given district A, B, C, and D. A rational player then would choose the best alternative that would allow him or her to increase the vote share the most. This does not necessarily mean that a rational player is greedy or pursues only materialistic benefits. Contrary to a popular misunderstanding, game theory is agnostic about the origin of goals; hence, goals for players in a game may well be altruistic or emotional.
Players are assumed to have clear goals when they are involved in a strategic situation, term paper game theory. Given the goal, they are able to arrange their preference ordering over every possible outcome. For instance, players involved in a rock-paper-scissors game are assumed to have a goal of winning.
Then their preference ordering would be presumably to win over to tie and to tie over to lose hence, win over lose.
Usually, preferences are translated by some utility functions that assign payoffs real numbers to each outcome when outcomes are determined by the combination of actions by all players. Following the rock-paper-scissors example, the utility function may assign a real number for each outcome so that each player gets a payoff of 5 for winning, 0 for tying, and —5 for losing.
Since 5 is greater than 0 and 0 is greater than —5, the preference relationship still holds. We play many games in our everyday lives; games are often being played when people interact, term paper game theory. For instance, term paper game theory, if an individual drives a car in a busy street, that individual plays a game with the drivers of the other cars. Similarly, when an individual makes a bid for a pair of concert tickets on eBay, he or she is playing a game with other bidders.
Many political situations in real life can be thought of as term paper game theory. The decisions of the Soviet Union and the United States about developing, stockpiling, and locating nuclear weapons during the cold war era can be modeled as a game between the two superpowers. Similarly, the decision making by Nikita Khrushchev and the Soviet government during the Cuban missile crisis to build and remove a missile base on Cuban soil and the decision-making process by John F.
Kennedy and the United States government to respond to the attempted construction of the missile base can be modeled as a game between two players pursuing their own security interests and interacting with various policy alternatives. Formally speaking, a game consists of a a set of players, b a set of actions or combinations of actions called strategies for each player, and c preferences over the set of action or strategy profiles for each player. And a game is usually represented in one of two ways: normal form or extensive form.
The normal-form representation term paper game theory a game specifies the players, the actions or strategies—the combinations of actions—for each player, and the payoff received by each player in a matrix.
Term paper game theory prisoners have been caught and are being interrogated by the police. The crime that they have committed and been caught for is relatively minor, but they have also committed a more serious crime in the past, and the police interrogate the prisoners to prosecute them for the serious crime as well.
The prisoners are interrogated separately, without a way to communicate or collude with each other. The deal that the police propose to each prisoner is that if both prisoners remain quiet for the serious crime, both prisoners will serve only 1 year each in prison for the light crime without being convicted for the serious crime; if one prisoner remains quiet for the serious crime but the other one confesses the serious crime, the one who confesses is set free while the one who remains silent serves a 9-year prison term; and if both prisoners confess, both are prosecuted for the serious crime and serve 6 years each in prison.
Here, two players, Prisoner 1 and Prisoner 2, are playing the game. In the normal-form representation, players are usually listed on the top and the left side of the payoff matrix. Available actions are defined in columns and rows, and respective payoffs are listed in each cell where actions by players intersect. Given the setup, term paper game theory, then, what is the best strategy available for each player?
There are possibly many solution criteria, but one intuitive strategy would be a simple procedure of elimination of dominated strategies. Suppose that Prisoner 1 believes that Prisoner 2 will confess. Similarly, suppose that Prisoner 1 believes that Prisoner 2 will remain silent. Thus, remaining silent is always dominated by confessing.
Since the game is symmetric and both players reason the same way, Prisoner 2 can also eliminate the option of remaining quiet. As a result, the only combination that remains possible is confession for both players.
Game Theory: Until Dawn's TRAGIC Hero
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Optimal Decision Making Measures Using Game Theory Research Paper Game Theory The earliest conceptualization of game theory is by Cournot in where the analysis sought to clarify choices and actions taken in a duopolistic market[footnoteRef:1] Game Theory A definition of Game Theory or something that appears to be a definition may be applied as such: An analytical or mathematical approach of examining strategic interaction when dealing with competitive situations in business decisions. As Keat, Young & Stephen () did not give a clear definition of Game Theory Mar 04, · Free Term Paper on Game Theory: Game theory is the system of methods which help to make the right decisions in different situations. Generally, game theory was created for mathematics as the method to predict certain results in different tasks related with mathematics. Later game theory became used in sports to predict the results of various sport competitions
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