Game Theory 101: Stag Hunt and Pure Strategy Nash Equilibrium

William Spaniel shows how to solve the Stag Hunt using pure strategy Nash equilibrium.

[allr]

Great video! Went over it in lecture, but didn't fully grasp it until watching this. Thanks!

[aldojoel]

This has been much more helpful than attending to my game theory classes.

[TeMrN]

Simple and concise video! Perfect thanks!

[hks]

Thank you so much. Your videos have been immensely helpful

[Gametheory]

@AK1MB0SL1C3 Nash equilibrium only looks at deviations from a single player. It is true that if both players simultaneously deviate to stag then both players make a profitable deviation, but that is a coalition of deviations, not an individual deviation. I wouldn't use "cartel" to describe the situation, as the word has a negative connotation. Moving from (hare, hare) to (stag, stag) is not predatory. In fact, it benefits everyone.

Hope that helps.

[WhyYouStealMyName]

Shouldn't stag/stag be a strictly dominant strategy?

[JIdeasProductions]

I used your videos to study for a test. I really didn't understand Nash equilibrium until I watched your videos. Thanks!

[joanbolets]

Very useful, it will help me out with my class today!

[tdavismph]

Thanks, I was using this today to look at a complex Board of Directors issue. In a membership organization, board members can either choose to have the membership organization not compete for a grant where several members may benefit a lot and all will benefit a little (through support for the network org) or not compete (where the network suffers, but some members may profit more by not competing against a consortium that has the networks help).

[Gametheory]

@11cookeaw1 It has a mixed strategy Nash equilibrium. The game is called "matching pennies."

[hks]

Hi William, am I right to say that for (0, 2) and (2, 0), we can also say that BOTH player would like to deviate to Stag Stag so that they both can get more meat?

[Gametheory]

@thecapone45 No, but unfortunately I can't think of any videos that have a counter example off the top of my head.

[siigerlol]

Hi William, maybe a definition of what a finite game is would be usefull. For example there is no Nash Equilibrium in Rock, Paper, Scissors but if you build a 3x3 matrix its still a finite game right?

[AKMBSLC]

@JimBobJenkins Thanks for the prompt answer makes a lot more sense now

[Gametheory]

@ForestGumpsFury You could think of the stag as worth six units of meat, and the hunters will split it equally, perhaps because 3 units is the most a single hunter can carry.

[SamWeed]

soo in stag hunt do hunters know what the other hunters gonna do?
is there is any communication in the first round of the game??
or they both dont know each other??

[Gametheory]

Yes, any outcome which is each individual's most preferred outcome is always coalition proof.

[AKMBSLC]

@JimBobJenkins I've never taken Game Theory Class before and so I'm confused. Would player 1 and player 2 deviating from a rabbit-rabbit hunt (to a stag-stag hunt) not be nash equilibrium as they would be akin to forming a cartel

[Gametheory]

No, game theory is the study of games. The prisoner's dilemma is one such game.

[Pirtti]

The University of YouTube, thank you.