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Apr
05

Next Cafe: The Games People Play

An extensive form representation of a prisoner...

An extensive form representation of a prisoner's dilemma with an outside option for player 1 (Photo credit: Wikipedia)

Game theory is the process of modelling the strategic interaction, behaviour and decision making between two or more agents in a situation containing set rules and outcomes. It can therefore provide a framework for understanding the behaviour of individuals, but also firms and countries in specific situations, in the context of the pursuit of their individual reward.

However, what game theory also shows us is that the pursuit of individual reward can often result in the worst possible outcome for everyone.

This café, with regular attendee Richard Jones introducing the topic, explores some examples of Game Theory (such as the Prisoner’s Dilemma) and its applications in economics, politics and psychology.

Ultimately, in the context of people’s competitive and ‘game playing’ nature, how can we achieve a cooperative solution that will help everybody and the environment?

Join us on Tuesday 17 April at The Gate from 8.00 pm.

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