Z00_REND1011_11_SE_MOD4 PP3.QXD 2/21/11 12:49 PM Page M4-1 MODULE 4 Game Theory LEARNING OBJECTIVES After completing this supplement‚ students will be able to: 1. Understand the principles of zero-sum‚ two-person games. 2. Analyze pure strategy games and use dominance to reduce the size of a game. 3. Solve mixed strategy games when there is no saddle point. SUPPLEMENT OUTLINE M4.1 M4.2 M4.3 M4.4 M4.5 M4.6 Introduction Language of Games The Minimax Criterion
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What are Push Theory and Pull Theory? Pull theory: In economics‚ the demand-pull theory is the theory that inflation occurs when demand for goods and services exceed existing supplies. According to the demand pull theory‚ there is a range of effects on innovative activity driven by changes in expected demand‚ the competitive structure of markets‚ and factors which affect the valuation of new products or the ability of firms to realize economic benefits. In a marketing "pull" system‚ the consumer
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Handbooks in Central Banking No. 23 CONSUMPTION THEORY Emilio Fernandez-Corugedo Series editors: Andrew Blake & Gill Hammond Issued by the Centre for Central Banking Studies‚ Bank of England‚ London EC2R 8AH E-mail: ccbsinfo@bankofengland.co.uk July 2004 © Bank of England 2004 ISBN 1 85730 143 9 Consumption Theory Emilio Fernandez-Corugedo1 Centre for Central Banking Studies‚ Bank of England 1 This Handbook represents the views and analysis of the author and should not be thought to represent
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LABELING THEORY Labeling theory‚ which is also known as social reaction theory‚ explains how criminal careers are based on destructive social interactions and encounters. EVOLUTION OF THE LABELING THEORY- Howard Becker developed his theory of labeling in the 1963 book Outsiders: Studies in the Sociology of Deviance. Becker’s theory evolved during a period of social and political power struggle that was amplified within the world of the college campus. Liberal political movements were embraced by
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During 1950 and 1960‚ some small group decision making developed the idea of contingency theory. At the end of 1950s‚ academic schools began to utilize the contingency idea into organization theory. The term “contingency theory was created‚ it challenged the traditional management notion: finding the one best way to organize. Together with special and united notion of subsystems‚ the contingency theory drew theorists’ attention and obtain acceptance. Then more and more researchers took part in studying
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people should live their lives in accordance of distinguishing the right actions from wrong actions (Boatright‚ 2007‚ p. 7). In ethics normative theory propose different principles on how society can deal with this dilemma and that is through the introduction of deontological and theological ethical system. Deontological ethics or non-consequentialist theory requires people to do the right thing simply because it is the right thing to do regardless of its consequences (Barry‚ Sansburry‚ & Shaw
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Chaos Theory Chaos theory as a name comes from the fact that the systems the theory describes (non-linear systems) would seem to be disordered or random or at least unpredictable. Chaos theory tries to find some underlying order in what appears to be random events or data. Edward Lorenz was an early pioneer of the theory. He was working on weather predictions in 1961 and was using a computer to help with the calculations. Lorenz had initiated a sequence of data based on twelve variables in his
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Attribution Theory (Wiener’s Belief Systems) * Attribution theory assumes that people try to determine why people do what they do‚ that is‚ interpret causes to an event or behavior. (Att. Theory basically looks at how people make sense of their world; what cause and effect inferences they make about the behaviors of others and of themselves.) * Attribution theory is concerned with how and why ordinary people explain events as they do. (Theories of attribution claim we aim to attribute behavior
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LEARNING THEORIES - COGNITIVE LEARNING THEORIES CHAPTER l CHAPTER 5 Learning Theories - Cognitive Learning Theories 5 LE ARNI NG OUTCOMES After studying this chapter‚ you should be able to: 1. Explain what is cognitive revolution and the cognitive perspective on learning and how it differs from other theoretical perspective; 2. Discuss the origins of the contemporary cognitive perspective including the Gestalt psychology and the role of perception; 3. Describe
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Erikson’s Theory"Erik Erikson believed that we develop in psychosocial stages versus psychosexual stages that Freud developed" (Santrock‚ 2008‚ p.23). "The word ’psychosocial’ was Erikson’s term that he derived from the words psychological meaning mind and social meaning relationship" (Chapman‚ 2007). Erikson was concerned with how personality and behavior is influenced after birth. Erikson stood strong on his belief concerning nurture and experience. The key element within Erikson’s theory was ego
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