game theory

Examples of game theory in the following topics:

• Game Theory Applications to Oligopoly

  • Game theory provides a framework for understanding how firms behave in an oligopoly.
  • Game theory offers a useful framework for thinking about how firms may act in the context of this interdependence.
  • For example, game theory can explain why oligopolies have trouble maintaining collusive arrangements to generate monopoly profits.
  • The prisoner's dilemma is a specific type of game in game theory that illustrates why cooperation may be difficult to maintain for oligopolists even when it is mutually beneficial.
  • The Nash equilibrium is an important concept in game theory.

• Research Examples

  • Berk (1974) uses game theory (http://en.wikipedia.org/wiki/game_Theory) to suggest that even a panic in a burning theater can reflect rational calculation: If members of the audience decide that it is more rational to run to the exits than to walk, the result may look like an animal-like stampede without in fact being irrational.

• The Prisoner's Dilemma and Oligopoly

  • The prisoner's dilemma is a canonical example of a game analyzed in game theory that shows why two individuals might not cooperate, even if it appears that it is in their best interest to do so.
  • In the game, two members of a criminal gang are arrested and imprisoned.
  • This set of strategies is thus a Nash equilibrium in the game--no player would be better off by changing his or her strategy.
  • One traditional example of game theory and the prisoner's dilemma in practice involves soft drinks.

• Temporal Motivation Theory

  • Temporal motivation theory emphasizes the impact of time and deadlines on our motivation to complete tasks.
  • Temporal motivation theory (TMT) is an integrative motivational theory developed by Piers Steel and Cornelius J.
  • With the exam still a month away (long delay), the student's motivation to study is likely to be low, and he will play the video game instead.
  • As the exam date approaches (shorter delay), his motivation to study may increase, leading him to put the video game away.
  • Temporal motivation theory argues that motivation is heavily influenced by time.

• Application of Knowledge

  • A business game (also called business simulation game) refers to a simulation game that is used as an educational tool for teaching business.
  • Business games (also called business simulation game) refer to simulation games that are used as an educational tool for teaching business.
  • Theoretical instruction: The teacher goes through certain relevant aspects of a theory and participants can intervene with questions and comments.
  • Introduction to the game: The participants are told how to operate the computer and how to play the game.
  • Business game (also called business simulation game) refers to simulation games that are used as an educational tool for teaching business.

• Conclusion

  • There are a multitude of theories applicable to adult learning.
  • For each theory, there are many independent factors brought to the environment by the learner.
  • However, all theories should be taken under consideration by facilitators and learners.
  • Test your Adult Learning knowledge by playing this Jeopardy game (http://www.coe.uga.edu/epltt/images/adultlearningreview.ppt)!
  • This Jeopardy game was created by Cliff Garrett and Kristen Garner (2006).

• Lab 2: Discrete Distribution (Lucky Dice Experiment)

  • The student will compare empirical data and a theoretical distribution to determine if a Tet gambling game fits a discrete distribution.
  • Based upon the experiment: What was the average profit per game?
  • Did this represent an average win or loss per game?
  • Based upon theory: What was the expected profit per game?
  • Did the expected profit represent an average win or loss per game?

• Steps to Integrating Experiential Learning in the Classroom

  • Simulations and gaming within instruction also involve direct experience and thus are valid examples of experiential learning.
  • Within game interactions, there are often several cycles presented to the participant.
  • In addition, it has been found that simulations which shorten the debriefing period at the end of the game session can diminish their own effectiveness.
  • This means that games which do not allow for appropriate reflection are not as effective as if proper reflection occurs.
  • Thus, it is apparent that the reflective observation and abstract conceptualization portions of simulations and games are vital to learning, which has also been established by the Experiential Learning Theory (Ulrich, 1997).

• Intrinsic Motivation

  • Csikszentmihalyi (1985) used flow theory to explain cases in which subjects describe their experiences as intrinsically rewarding.
  • Assume an individual begins to play an instructional game.
  • Try the game "Color Linez" designed by Olga Demina.
  • This game was a present to Olga's brother on his birthday.
  • Why did you play this game?

• References

  • Review of experiential learning theory research in the nursing profession.
  • Links between experiential learning and simulation & gaming.
  • The concept of experiential learning and John Dewey's theory of reflective thought and action.
  • Toward a theory and practice for whole-person learning: Reconceptualizing experience and the role of affect.