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Test 5 will be in class on Thursday, May 3. It will cover: Peterson, Chapter 7: Philosophy of Probability
Possible questions include:
What are the different philosophical interpretations of probability?
What is the difference between an objective theory and a subjective theory?
What is frequentist objectivism? What is its main hypothesis? It's conceptual basis? The approach for discovering probabilities? Can it address single or unique cases? What are the problems typically associated with it?
What is classical objectivism? What is its main hypothesis? It's conceptual basis? The approach for discovering probabilities? Can it address single or unique cases? What are the problems typically associated with it?
What is subjectivist probability? What is its main hypothesis? It's conceptual basis? The approach for discovering probabilities? Can it address single or unique cases? What are the problems typically associated with it?
What is propensity objectivism? What is its main hypothesis? It's conceptual basis? The approach for discovering probabilities? Can it address single or unique cases? What are the problems typically associated with it?
What is Bayesian subjectivism? What is its main hypothesis? It's conceptual basis? The approach for discovering probabilities? Can it address single or unique cases? What are the problems typically associated with it?
and Spaniel Lessons 2.4, 2.5, 2.7, in particular the concepts and tools from Spaniel's video lessons:
Multiple Subgame Perfect Equilibria
Problems with Backward Induction
Tying Hands and Burning Bridges
What is the solution to Ultimatum style games? Why? Why does player 2 have to accept such a poor split?
What's a trembling hand equilibrium?
What does game theory predict should be the solution to Centipede games? What do people actually do? Why are they different?
How can punishments and sub-optimal choices in games with stages actually produce better outcomes?
How can tying your own hands or burning a bridge (limiting your own choices) sometimes force better outcomes for you and your opponent?
How can a player have a commitment problem and make a false promise or a threat that isn't credible?
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