Hot answers tagged game-theory
If you're looking for a simple game, for example to teach the holdout problem to students just beginning game theory, you could do worse than start with a general prisoner's dilemma (PD) game. The 30-second explanation is that it only makes (rational) sense for one player to act if the other person is acting as well. The holdout problem is a motivation for ...
Bystander Effect The Bystander Effect could be your answer. The more people, the less personal responsibility. Person gets assaulted and mugged on a crowded street in broad daylight, nobody calls the cops. Software bugs slow company productivity almost to a halt, many employees, nobody reports the problem. Tragedy of the Commons The tragedy of the ...
Many key algorithms are summarized on the ACE Research Area: Learning and the Embodied Mind website. ACE = Agent-based Computational Economics
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