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The Bank Bailout Game

April 10th, 2009 No comments

I have posted the Bank Bailout Game I used successfully in my regulation class, G406, at http://rasmusen.org/g406/readings-refg406/07.adverse-selection.doc and
http://rasmusen.org/g406/readings-refg406/07.adverse-selection.pdf.

Categories: accounting, banking crisis, g406, games, teaching Tags:

Two Game Theory Terms

June 11th, 2008 No comments

From Wikipedia (my boldfacing):

A game in game theory is considered a potential game if the incentive of all players to change their strategy can be expressed in one global function, the potential function. The concept was proposed by Dov Monderer and Lloyd Shapley. Games can be either ordinal or cardinal potential games. In cardinal games, the difference in individual payoffs for each player from individually changing one’s strategy ceteris paribus has to have the same value as the difference in values for the potential function. In ordinal games, only the signs of the differences have to be the same.

A game is a common interest game if it has a unique payoff-dominant outcome. Thus, a pure coordination game is not a common interest game, but ranked coordination is.

Categories: game theory, games Tags:

January 8th, 2008 No comments

Best Betting Cardgame. I made up a cardgame to play with the kids. Each person antes one toy soldier (or coin or chip) onto a piece of paper (to keep things tidy) and is dealt three cards. You then bet in turn, as in poker. You can match previous bets, drop out, or match the previous bets and then raise up to 5 soldiers. If you drop out, you show your cards. When nobody wants to raise anymore, those remaining in the game show their cards and the high card wins. My 5-year-old and 7-year-old both like it, and even the 4-year-old played for a while. I like it because there is some strategy involved regardless of the level of the other players, and this is far easier for kids than poker would be.

I’ve thought of a solitaire version too. The player is dealt three cards, and so is the bank. Each antes two soldiers. The live player then can bet one, two, or three more soldiers or drop out. After his decision, the bank’s cards are revealed and either the bank or the player wins.

Categories: children, games Tags: