Test 1 Review
Be prepared to explain these concepts, and to apply them in decision theoretic and game theoretic situations:
Decision Theory:
Decisions Under Uncertainty
Expected Value Theorem
Maximin Principle
Lexical Maximin Principle
Maximax Principle
Optimism Pessimism Rule
Principle of Insufficient Reason
Weak Dominance Principle-Peterson
Strong Dominance Principle- Peterson
Game Theory:
Strong and Weak Dominance- Spaniel
Zero sum games
Cooperative vs non-cooperative
Simultaneous move games
Sequential move games:
Perfect vs. imperfect information:
Symmetric vs non-symmetric games:
Non-iterated vs iterated games