Economics Assignment | Buy assignments online
Post a Pin that relates to the topics covered this week and write why you chose this item. A Pin can be a link to a video or article that you found on the web.
My topic:Strategic Games (A Nash equilibrium is a pair of strategies, one for each player, in which each strategy is a best response against the other).
When players act rationally, optimally, and in their own self-interest, it’s possible to compute the likely outcomes (equilibria) of games. By studying games, we learn not only where our strategies are likely to take us, but also how to modify the rules of the game to our own advantage.
Equilibria of sequential games, where players take turns moving, are influenced by who moves first (a potential ﬁrst-mover advantage, or disadvantage), and who can commit to a future course of action. Credible commitments are difﬁcult to make because they require that players threaten to act in an unproﬁtable way—against their self-interest.
Remarks: The response must be detailed and answer the primary question and subpart of the primary question. Write clearly, concisely, use proper grammar and writing mechanics. You must use APA format and cite (2) references.