Game Theory for Social Gatherings


While most people are familiar with board games and video games, there are some less familiar types of games that can be played at social gatherings. Generally speaking, these types of games can be divided into two categories: conversation games and win-lose games. Conversation games are verbal games that are played to kill time and compete with each other for rewards. They may also involve an external referee. Regardless of the type of game played, there is likely an appropriate game for any social gathering.

There are countless further applications of classical and evolutionary game theory. As with any analytical tool, game theory is an extremely broad subject, so a reader should have ample time to read and work through a comprehensive literature. Listed below are some highlights from the game theory literature. The notes below list the books and articles that have had a large impact on game theory. There is a wealth of additional reading available to expand the knowledge you have. And if you have an appetite for more, you should take advantage of the numerous resources available.

Some people see game theory as a formal model of human strategic reasoning. In this model, agents sometimes act rationally in non-parametric settings. This account also incorporates a normative element, since rationality denotes what an agent should want. Moreover, this approach is compatible with a tautological interpretation of utility maximization. However, game theory has some limitations. Theorists generally focus on general rationality as their main motivation.

In the field of neuroeconomics, game theory has been used extensively to understand the reward system in monkeys. In this research, scientists have been able to predict computations of the reward system in monkeys. During these experiments, monkeys face the choice between working for a reward or shirking. The former option earns them a reward if the other monkey is not monitoring them. They have a strong incentive to avoid the monitoring, but only if they are aware that the other player is watching them.

As an evolutionary tool, game theory can predict and explain the distribution of strategic dispositions in populations of agents. It can be applied to non-eusocial social animals, such as humans. It is important to note, however, that applying evolutionary game theory requires auxiliary assumptions and justifications. So let’s review some of the most prominent critics of game theory. This article is not intended to be an exhaustive list, and is not meant to be taken as an attempt to debunk the theory of human behavior.

The name of the game comes from a scenario in which two robbers are caught in a situation where the police have insufficient evidence to convince a jury. However, they do have enough evidence to sentence each prisoner to two years for stealing a getaway car. The chief inspector, however, offers the surviving prisoner a free release if they implicate the other. If the other prisoner confesses alone, the former gets five years in prison. Ultimately, the prisoners who have a joint confession are sentenced to two years in prison.

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