Social Interactions
,Lecture 1
Introduction
* Individuals choose the best possible outcome
given constraints (unit 3)
⑦
Sometimes the outcome depends on the actions of others as well as your own
↳ How does this affect decision
making ?
Social
↑ interactions can help explain the
of Commons
Tradegy the
and social dilemmas like climate
change
Social and Interactions
Strategic
·
In this unit we will use a
model of social interaction to explain
D Situations where there are 2 or more
people
& and the actions taken by each person affect their own outcome
↑ and other people's outcomes
* Social interactions situations in which the actions taken
by
=
each person
affect other people's outcomes as well as their own
, Game Theory
What is
game theory ?
of of interactions
A set models
strategic
* social interaction of
Strategic interaction in which participants
= a are aware
the ways in which their actions affect others
*
Strategy = an action / an action plan that a person may choose while aware
of the mutual dependance of the outcomes on their own and
other's actions
What is ?
game
a
A is description of social interaction which specifies
game a
·
a :
The
D Players · Who is
interacting with whom
feasible Which actions
a The
strategies : are
open to the players
D The order of play : When the players choose their actions
The information What each knows their decision
& : player when
making
a The payoffs : What the outcomes will be for each of the possible
combinations of actions
Example
,Lecture 1
Introduction
* Individuals choose the best possible outcome
given constraints (unit 3)
⑦
Sometimes the outcome depends on the actions of others as well as your own
↳ How does this affect decision
making ?
Social
↑ interactions can help explain the
of Commons
Tradegy the
and social dilemmas like climate
change
Social and Interactions
Strategic
·
In this unit we will use a
model of social interaction to explain
D Situations where there are 2 or more
people
& and the actions taken by each person affect their own outcome
↑ and other people's outcomes
* Social interactions situations in which the actions taken
by
=
each person
affect other people's outcomes as well as their own
, Game Theory
What is
game theory ?
of of interactions
A set models
strategic
* social interaction of
Strategic interaction in which participants
= a are aware
the ways in which their actions affect others
*
Strategy = an action / an action plan that a person may choose while aware
of the mutual dependance of the outcomes on their own and
other's actions
What is ?
game
a
A is description of social interaction which specifies
game a
·
a :
The
D Players · Who is
interacting with whom
feasible Which actions
a The
strategies : are
open to the players
D The order of play : When the players choose their actions
The information What each knows their decision
& : player when
making
a The payoffs : What the outcomes will be for each of the possible
combinations of actions
Example
