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    Different Types of Strategy

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    Try to Understand the Different Types of Strategy
    4 - 5 Questions will be on mid-term. Use the below information for a study guide!! If you understand this type of game of strategy, you will do fine!!

    Also study the Prisoner's Dilemma (Already Understand)

    Note to Self: Continue to work on additional study guide material and check off once the
    Concepts are understood. You have 3 weeks!!

    Example of Question that may/may not be on the Exam.

    Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.

    Driver 1
    Driver 2
    Left Right
    Left 0, 0 -1000, -1000
    Right -1000, -1000 0, 0

    1. Would either player have a dominant strategy? If so, explain?

    2. Is Nash equilibrium in this particular game? Explain

    3. Would this game be considered a cooperative game? If so, explain?

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    Solution Preview

    1. Would either player have a dominant strategy? If so, explain?

    No. A strategy is dominant if, regardless of what the other player does, the strategy provides a higher payoff. In this case If D2 chooses left, D1 would be better off choosing left. If D2 chooses right, D1 should choose ...

    Solution Summary

    The different types of strategy are included.