Nash Equilibrium
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We first play and then analyze wars of attrition; the games that afflict trench warfare, strikes, and businesses in some competitive settings. We find long and damaging fights can occur in class in these games even when the prizes are small in relation to the accumulated costs. These could be caused by irrationality or by players' having other goals like pride or reputation. But we argue that long, costly fights should be expected in...more
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After discussing the classic determination of the heat of atomization of graphite by Chupka and Inghram, the values of bond dissociation energies, and the utility of average bond energies, the lecture focuses on understanding equilibrium and rate processes through statistical mechanics. The Boltzmann factor favors minimal energy in order to provide the largest number of different arrangements of "bits" of energy. The slippery concept of...more
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After mentioning some legal implications of chirality, the discussion of configuration concludes using esomeprazole as an example of three general methods for producing single enantiomers. Conformational isomerism is more subtle because isomers differ only by rotation about single bonds, which requires careful physico-chemical consideration of energies and their relation to equilibrium and rate constants. Conformations have their own...more
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Breeding strategies differ both among males and females of the same species as well as among different species. The difference in breeding strategies among members of the same species can usually be linked to frequency dependence. If the species is at evolutionary equilibrium, the relative fitnesses of these different strategies will be identical. Differing strategies have been found at the level of the gamete as well as at the level of...more
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This lecture explains what an economic model is, and why it allows for counterfactual reasoning and often yields paradoxical conclusions. Typically, equilibrium is defined as the solution to a system of simultaneous equations. The most important economic model is that of supply and demand in one market, which was understood to some extent by the ancient Greeks and even by Shakespeare. That model accurately fits the experiment from the...more
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Professor Sylvia Ceyer continues her discussion on chemical equilibrium and external effects such as a change in volume, adding inert gas, and a change in temperature. Parameters are set for maximizing the yield of a reaction, and the Principle of Le Chatelier's is returned to. Hemoglobin is used as an example involved in a series of equilibrium reactions in response to oxygen pressure.
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We consider games that have both simultaneous and sequential components, combining ideas from before and after the midterm. We represent what a player does not know within a game using an information set: a collection of nodes among which the player cannot distinguish. This lets us define games of imperfect information; and also lets us formally define subgames. We then extend our definition of a strategy to imperfect information games,...more
