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What is Game Theory?
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Elements of a Game
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Normal Form Game
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Nash Equilibrium Definition
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Nash Equilibrium Example
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Dominant Strategy
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Coordination Game
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Introduction and Definition
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Example
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Discussion
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Brief Historical Interlude
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Cournot Competition
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Bayesian Games Overview
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Example
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Mixed Strategy Equilibrium in Cyber Security
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Overfishing and Regulation
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What We've Learned and What's to Come
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10.1 Overfishing and Regulation » Quiz Solution
Question: The Nash equilibrium of the tragedy of the commons game presented without the fine in the
video gives the highest total utility (i.e. player 1's payoff plus player 2's payoff).
Answer: (b) False
Explanation: The highest total utility is if both players play F, which gives total utility of 6. However, in equilibrium both play OF giving a total utility of 4.