Today we will continue to study the 2x2 matrix. We will discuss the difference between simultaneous and sequential play games, solutions to games without dominant strategies, evaluating the efficiency of a game's outcome, and constructing a matrix to evaluate a situation.
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#1: Discussion: Which best characterizes the Cuban Missile Crisis, the prisoner's dilemma or chicken?
#2: Watch and discuss the following videos on Nash Equilibrium:
#3: Click here to access the document we will use to learn the following concepts today:
Distinguishing between simultaneous play and sequential play games
Determining the outcome of a game where:
Both players have a dominant strategy (review)
Only one player has a dominant strategy
Neither player has a dominant strategy
Evaluating the outcome of a game by determining its efficiency
Constructing a matrix to evaluate a situation