@LOOKNG778 If you go to the web site in the description of the video or on the graphic at the beginning and end of the video, you will see a link in the left-hand column that says "Vinyl Bumper Stickers." :)
why isn't the 20-20 nash equilibrium? it's the best choice both for individual and the group. and they have nothing to lose like in prisoner's dilemma, both would be better off going to dinner. or am i missing some point :)
Consider the husband going to dinner. Wife would choose dinner since movie would result in 0. If husband goes to movie, she will also go movie otherwise it would be 0. Same logic with the wife.
Therefore there is two nash, (dinner,dinner), (movie, movie).
But the person who explained this game is also wrong. Instead of just 2 nash there is a 3rd nash. Whenever you have more than 1 nash, then you have mix strategies since the payoffs are just probability distributions of some outcome.
Meaning that there are some probabilities that the husband and wife could pick movie or dinner. If say p=0.5 for dinner and movie, it means the third nash will be: half of the time the husband or wife picks dinner or movie.
Its not easy trying to understand game theory through these videos because most of them don't teach the basics and reasoning logic behind these decisions. You have to take an intermediate level economics course to get the full scope of game theory that gets increasingly complicated when you're dealing with infinite games, repeated games, grim trigger, and sequential games.
Why would they want to go to the same place? Wherever the wife goes, my guess is that the husband wants to go to another place in order to avoid the wife... :-)
They should both buy m&m's, two cokes and rent a dvd...or talk themselves over to friend's house...suppliments and compliments drive outcomes when dealing with preference....there, however, is no suppliment for you, Econ Girl~ Cheerio~
Hey Jodi, are you planning on continuing these online lectures, or have you discontinued them? My Econ teachers have all sucked, but I'm really into the subject, and these videos have helped refresh my forgetful mind. Hope to see more of your work!
thx for the vid. I have a question: Isn't it self evident that both of them want to go to dinner since the utility point for both is 20 for going to dinner. why should any one of them chose to go to a movie if the utility is just 10 for both. Thx.
I really didn't have to watch this 2nd video to expand my understanding of the Game theory but your so cute I just had to watch lol. P.S no I'm not a stalker...
Where can I get some of those stickers, "Economist do it with models..."?
LOOKNG778 1 month ago
@LOOKNG778 If you go to the web site in the description of the video or on the graphic at the beginning and end of the video, you will see a link in the left-hand column that says "Vinyl Bumper Stickers." :)
jodiecongirl 1 month ago
This scenario is ridiculous!
Psycatalyst 2 months ago
why isn't the 20-20 nash equilibrium? it's the best choice both for individual and the group. and they have nothing to lose like in prisoner's dilemma, both would be better off going to dinner. or am i missing some point :)
TheDreamerBJ 4 months ago
@TheDreamerBJ
you are missing some point.
Consider the husband going to dinner. Wife would choose dinner since movie would result in 0. If husband goes to movie, she will also go movie otherwise it would be 0. Same logic with the wife.
Therefore there is two nash, (dinner,dinner), (movie, movie).
441meatloaf 4 months ago
@TheDreamerBJ
But the person who explained this game is also wrong. Instead of just 2 nash there is a 3rd nash. Whenever you have more than 1 nash, then you have mix strategies since the payoffs are just probability distributions of some outcome.
Meaning that there are some probabilities that the husband and wife could pick movie or dinner. If say p=0.5 for dinner and movie, it means the third nash will be: half of the time the husband or wife picks dinner or movie.
441meatloaf 4 months ago
@TheDreamerBJ
Its not easy trying to understand game theory through these videos because most of them don't teach the basics and reasoning logic behind these decisions. You have to take an intermediate level economics course to get the full scope of game theory that gets increasingly complicated when you're dealing with infinite games, repeated games, grim trigger, and sequential games.
441meatloaf 4 months ago
@441meatloaf yeah i think i agree, i feel like i don't have the basic knowledge, but what you told makes sense somehow. thanks for the explanation :)
TheDreamerBJ 4 months ago
Win-win-situation, I guess
verificationcodex 6 months ago
I hope the husband and the wife will be "In the mood", at dinner or at the movie !
4807avh 6 months ago
Why would they want to go to the same place? Wherever the wife goes, my guess is that the husband wants to go to another place in order to avoid the wife... :-)
tih1776 1 year ago 5
Thanks again!
Just a thought, maybe next time, rather use a different colour combination. The difference between blue and green is a little hard to see on youtube.
Romeowasbleeding1 1 year ago
They should both buy m&m's, two cokes and rent a dvd...or talk themselves over to friend's house...suppliments and compliments drive outcomes when dealing with preference....there, however, is no suppliment for you, Econ Girl~ Cheerio~
shygui 1 year ago
Hey Jodi, are you planning on continuing these online lectures, or have you discontinued them? My Econ teachers have all sucked, but I'm really into the subject, and these videos have helped refresh my forgetful mind. Hope to see more of your work!
Fadeddreams5 1 year ago 5
@Fadeddreams5 I think khan academy is better
yoyuepz 5 months ago
thx for the vid. I have a question: Isn't it self evident that both of them want to go to dinner since the utility point for both is 20 for going to dinner. why should any one of them chose to go to a movie if the utility is just 10 for both. Thx.
abuabu41 1 year ago
thanx a lot for both video......
nice example to understand the topics;)
shinen3001 2 years ago
I really didn't have to watch this 2nd video to expand my understanding of the Game theory but your so cute I just had to watch lol. P.S no I'm not a stalker...
ecollado90 2 years ago