Economic and Game Theory
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I am an Indian student currently studying towards my PhD degree in the field of Information Systems at the University of Cologne in Germany. I am also working as a Scientific Research Assistant in our dept of Media Management. Lately I am working on giving some lectures in the area of Game Theory and I would like to ask some basic questions regarding the topic so that it will be easier for me to teach the students. I hope Sir, you will not mind.
My question is:
1) Does Nash Equilibrium condition is same as Pareto Optimality ? 2) Does Nash equlibrium or solution holds for all forms of games whether its cooperative or non cooperative. Or whether its zero sum game or non zero sum game or whether its n person game. 3) If we take for example the classic prisoners dillema here the solution has been proved and executed in a Nash Equilibrium. Therefore if we take the assumption that the payoffs changes then will Nash equilibrium still holds in this case. 4) If Nash equlibrium (NE) is same as Pareto Optimality (PO) condition then will the reverse be the same i.e., PO = NE 5) Will Pareto Optimality condition holds when there are different or mixed strategies and when the payoffs changes when changing strategies or adopting mixed strategies?
I hope Sir I can get the answers to these basic question since it will provide me with an insight towards Game theory.
Regards and best wishes
PhD Candidate Department for Media Management University of Cologne Pohligstr. 1, 50969 Koeln
Tel.: +49-221-470-5359 Fax: +49-221-470-5300