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Treating probability as a logic, Thomas Bayes defined the following:
Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y)
For example, probability that the weather was bad given that our friends played cricket can be calculated as:
Pr(play cricket in the rain)Pr(rain)/Pr(play cricket).
Paired Prisoners' Dilemma Students can be paired off and instructed to play several ver-sions of a particular game with a prisoners' dilemma structure.Provide each pair with a
In Bontemps, Louisiana there are only two places to spend time: Merlotte's bar and Fangtasia. Sookie and Eric have made plans to spend Friday night together, but they never decided
How much time you want to spend on this material willdepend on the focus of your course. For many social sciencecourses, a general exposure to the ideas, based on a quick runthroug
A type of auction in which the highest bidder is rewarded the object, but all bidders pay the auctioneer their bids. This differs from traditional first price auctions in which onl
This chapter introduces mixed strategies and the methods used to solve for mixed strategy equilibria. Students are likely to accept the idea of randomization more readily if they t
Scenario Two hooligans with one thing to prove drive at one another on a slender road. the primary to swerve loses faces among his peers. If neither swerves, however, a terminal
Twentieth century mathematician who expanded on earlier fastened purpose theorems. a hard and fast purpose theorem defines the conditions on a perform, f(x), beneath that there exi
a) Define the term Nash equilibrium b) You are given the following pay-off matrix: Strategies for player 1 Strategies for player 2
A game tree (also referred to as the in depth form) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the
A trigger strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating within the initial amount, and continues to cooperate till one defe
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