The Mathematics of Trust // How Game Theory Explains Cooperation

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Cooperation is crucial to so much of society, but it comes with something of a dilemma. If we cooperate, we can potentially get a higher payoff. But if the other player doesn't cooperate, we could be left with nothing and would have been better off just acting alone and getting something. This is the truth dilemma, and we can use Game Theory to study it. Specifically we will study the Stag Hunt game that considers hunters deciding to go for a Stag or a Hare. This is a Normal Form Game and we begin by noting that its payoff matrix doesn't have any dominating strategies, the main method we have seen previously in the game theory playlist. Instead we will define Nash Equilibriums and see how the Stag Hunt game actually has two equilibriums, one that maximizes payoff and one that minimizes risk.

0:00 The Trust Dilemma
0:45 The Stag Hunt Game
5:12 Nash Equilibria
7:56 The Cooperation Problem
10:57 Check out Brilliant.org/treforbazett

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Видео The Mathematics of Trust // How Game Theory Explains Cooperation канала Dr. Trefor Bazett