imperfect information Correct Answer-uncertainty about others' actions
we don't know what action that another person has made or is making
simultaneous games like chicken
incomplete information Correct Answer-don't know about the other's preferences or payoffs - result of private information
...
POLI/PWAD 287 Questions with correct answers
imperfect information Correct Answer-uncertainty about others' actions
we don't know what action that another person has made or is making
simultaneous games like chicken
incomplete information Correct Answer-don't know about the other's
preferences or payoffs - result of private information
move by nature Correct Answer-"nature" assigning preferences to actors
player types: strong , weak(lower payoff for war, lower probability of
victory, unwilling to fight)
belief Correct Answer-player knows their own type, but the other
player's has beliefs about the other player's type
signal Correct Answer-the process of taking action that reveals
information
recipient revives that information
then updates its beliefs in light of the new information
screening Correct Answer-the process of an uninformed actor obtaining
information from an informed actor
the challenger takes an action to learn the defenders type- so that it can
know whether it's better to attack or not attack
, avoid unwanted costly wars
bargaining theory Correct Answer-use of game theory to model
bargaining situations
reservation value Correct Answer-The lowest offer a negotiator is
willing to accept. It is the point at which a negotiator is indifferent
between accepting a proposed offer and rejecting it in favor of pursuing
his or her BATNA
you would prefer no agreement to anything lower than your reservation
value
bargaining range Correct Answer-outcomes between the players'
reservation values ( would expect that any bargaining outcome will be in
this range)
outside option (BATNA) Correct Answer-Best alternative to negotiated
agreement- get it from leaving the table and going outside of the
bargaining process
inside option Correct Answer-staying at the table and continuing the
bargaining process
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