Assurance Games - Jonathan Anomaly

Prof. Jonathan Anomaly explains a common model in game theory known as an assurance game: a situation in which moving from one equilibrium to a much better one requires trust. Prof. Anomaly explains how an assurance game can be modeled using a payoff matrix, and explains the difference between games involving simultaneous choice and games involving sequential choice. This video is part of a series about the basics of game theory, and also part of a larger series on foundational topics in Philosophy, Politics, and Economics (PPE). Videos in the series feature six different professors who teach in university PPE programs. Watch the rest of the videos in the Game Theory playlist here:    • Game Theory - Philosophy, Politics, and Ec...   Watch all 23 videos in the PPE series here:    • Philosophy, Politics, and Economics (PPE) ...   For additional PPE curriculum resources, including suggestions for further readings on each topic, visit our website: https://theihs.org/ppe/ Subscribe to our channel to see upcoming videos from IHS: https://www.youtube.com/c/TheIHSorg?s... The Institute for Humane Studies supports and partners with professors to promote the teaching and research of classical liberal ideas and to advance higher education’s core purpose of intellectual discovery and human progress. About Us: https://theihs.org/who-we-are/ Twitter: https://twitter.com/theihs?lang=en Facebook:   / instituteforhumanestudies   LinkedIn:   / instituteforhumanestudies   Instagram:   / theihs