Question

International Political Economics - Question

1. Explain what for Game Theory is used in IPE. What are the main assumptions in Game Theory? Explain in detail the Chicken Game and give at least one example from IPE, which can be applied to the Chicken Game, and how it can be applied.

Answer 1

Mathemataticion john Nash is a founder of game theory

A game is a any interaction Between multiple people in which each person play of is Affected by descion Makes by others.

we can probably analyze the decision we made using game theory.

There are two main branches are there fo game theory

those arw

1.Cooperative theory

2Non cooperative theory

Assumptions of game theory

1. Rationality

2.Choice and common knowledge

Chicken game theory

This is Made of Conflict for two players in game theory

the principle of game is that while outcome is ideal for one player to yield , But individual try to avoid it out of pride for not wanting to like a chicken.so each player taunts the other to increase the Risk of shame in yielding

However when one player yields . the conflict is avoide. and the game is for the most part is over

Chicken game theory in IPE

Wager 2007 Demonstrates that realism and other common theoritical Approaches are unable to exlain international ploitics . and that game theory is useful to better exkain it