Abstract

Nash’s Existence theorem proves that every game with a finite number of players has a Nash equilibrium, if we allow for mixed strategies. In this talk we shall explore different types of games and their Nash equilibria, and how they relate to the optimal strategies for rational players in a game against others. Humans, however, are not always rational.

Because of this, in some games, the optimal strategy can no longer be based upon the assumptions of rational players. We shall then look at some real world scenarios where this has occurred and what this tells us about the ‘average’ player in a game. We shall finally see how human biases can interfere with our decision making and how Chimpanzees might actually be better at making decisions than us.