Tools | Bookmark & Share | Make MrWhy My Homepage
MrWhy.com
Go
MrWhy.com » Videos » Lecture 5 - Nash equilibrium: bad fashion and bank runs
Lecture 5 - Nash equilibrium: bad fashion and bank runs
Lecture 5 -  Nash equilibrium: bad fashion and bank runs
Report
Lecture 5 - Nash equilibrium: bad fashion and bank runs
We first define formally the new concept from last time: Nash equilibrium. Then we discuss why we might be interested in Nash equilibrium and how we might find Nash equilibrium in various games. As an example, we play a class investment game to illustrate that there can be many equilibria in social settings, and that societies can fail to coordinate at all or may coordinate on a bad equilibrium. We argue that coordination problems are common in the real world. Finally, we discuss why in such coordination problems--unlike in prisoners' dilemmas--simply communicating may be a remedy.
Channel: VideoLectures
Category: Educational
Video Length: 0
Date Found: November 19, 2010
Date Produced: November 15, 2010
View Count: 0
 
MrWhy.com Special Offers
1
2
3
4
5
 
About Us: About MrWhy.com | Advertise on MrWhy.com | Contact MrWhy.com | Privacy Policy | MrWhy.com Partners
Answers: Questions and Answers | Browse by Category
Comparison Shopping: Comparison Shopping | Browse by Category | Top Searches
Shop eBay: Shop eBay | Browse by Category
Shop Amazon: Shop Amazon | Browse by Category
Videos: Video Search | Browse by Category
Web Search: Web Search | Browse by Searches
Copyright © 2011 MrWhy.com. All rights reserved.