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