Sci Show. (2016, September 29). Game Theory: The Science of Decision-Making [Video]. YouTube. https://www.youtube.com/watch?v=MHS-htjGgSY
The video provides a good overview of the field of game theory, breaking down the definition of a game as an interaction between multiple people where the payoff is affected by the decision of others. It then looks at the different branches of games, cooperative, where people are working together and non-cooperative, where the individuals are working against each other. After looking at the prisoner’s dilemma and showing the formula for the Nash Equilibrium, the video looked at Shapley value which is focused on dividing up the payout of the system to be as fair as possible. There were four axioms of the Shapley value; players get payout based on how much they contribute to the group; players who do the same amount of work, they get the same payout; players who do nothing get no payout; and the payout is broken down based on the different rounds of the game. Ultimately the difference between the games is that competitive games teach you how to be smart, co-operative games teach you how to be fair.
- The video does a great job summarizing the basic definitions of game theory in an easy to understand way. The other sources I have found at this point were all very technical, or assumed that I already knew how to define the games. Having the simple keywords of “interaction”, “multiple participants” and “payout affected by other’s decisions” really helped me to understand the set ups of the other games.
- Most of the articles that I have found at this point were primarily focused on the mathematical representation of competitive games. I had never heard of the Shapley value before, and since I am looking to apply game theory to make teaching more fair to the students this would be a good thing for me to look at, especially since I am planning to use more group work rather than just traditional quizzes.
Spencer Hight 