Nash Equilibrium

Nash Equilibrium: The Nash Equilibrium consists of two sides that can both make some kind of a profit. They both make a profit without changing the strategies of one another  

Game Theory – The theory of games is all around us in any game we play. All it is, is we change our decisions based on how others make their decisions. 

Prisoner Dilemma – similar to game theory but is more along the lines of someone being forced to make the choice rather than making a decision on their own 

The Serendip online interactive dilemma game was very interesting. This game was life like. If I kept cooperating with it, it would agree with me. It made our profits grow together. The only thing I didn’t like was from the time I disagreed they disagreed until the end. 

In History: The cold war, the U.S and Soviet Union did something much like the nash equilibrium 

In Government: both parties must agree on things that will benefit the nation 

In Economics: companies will lower and raise their prices to compete around the world 

Sociology: Sociology studies the structure of this entire thing 

Psychology: Studies how the mind reacts in situations like this

Everyday life: like I said before every day you make choices just like these and any choice can affect you in many ways  

In the game we played in class I enjoyed seeing what kind of classmates I truly have. To be completely honest I expected the other group to stab us in the back but in my group we wanted to at least try to put ourselves out there and achieve greatness even though we ended up losing by a lot the one thing I got out of it was that Wendy will not be invited to any of our class reunions.