Economics in Many Lessons. (2020, January 10). Game Theory: Sequential Move Games [Video]. YouTube. https://www.youtube.com/watch?v=Whw9NVauK7E
This video is looking at how sequential games work, and how strategies are developed in sequential games. Because the choices are made one after the other rather than at the same time, the first player has to examine all of the outcomes of the game and choose which one is the best for them, and then take into account what choices their opponent will make. The video then goes on to explain what can happen if your opponent makes threats to you. If they cannot follow through with the threat, or the threat is non-credible, this is considered empty talk.
- The video does a very good job of breaking down how to plan for the most optimal choice in sequential games. I didn’t find many good sources that also explained how sequential games work. It was good to see a good explanation of why the game has the strategic solution that it does.
- In addition, the video showing how even when considering strategies, players can do more than just take a move. In a lot of games, a big part of the game is bluffing about what you have or don’t have. By examining how we can use logic to determine if a rational opponent would be bluffing. In order for the bluff to be credible, the person bluffing has to be willing to carry out the bluff.
Most of the sources I found were looking at simultaneous games, this was one of the few that specifically focused on sequential games and how to develop strategies in sequential games. Most of the situations that we encounter in the world can be expressed as sequential games, so it is important to know how to approach them, and develop strategies for them.
Spencer Hight 