Write an essay about an observation of real life that can be explained by game theory.

Write an essay about an observation of real life that can be explained by game theory

Document and discuss a phenomenon in real life that can be explained by a model from this unit. The example you give must be original and cannot be borrowed from the lectures/textbook. You must provide some evidence (e.g., photos, videos, news reports, data) to show that this phenomenon is not fictional, and then discuss how it fits the knowledge from this unit.

In your essay, you need to:

(a) Document and describe a real-life phenomenon/behaviour with evidence.

(b) Use a game-theory model from this unit to explain this real-life example.

(c) Compare the model’s prediction with your real-life observation. What does the model’s prediction share in common with the real-life observation?

(d) No model is perfect. What is the shortcoming of the model? Discuss at least one difference between the model’s prediction and the real-life observation. Propose and discuss at least one way to improve the model (e.g., should we change/add an assumption?) to address the issue.

Marking rubrics for option B:

For each of the following statements, “yes” = 2 points, “somewhat” = 1 point, “no” = 0 point

The student(s) discussed an example in real life that is related to a model of game theory. The example is original and has not been used in this unit.

The student(s) provided evidence (photos, videos, news reports, data, etc.) to show that the example they discussed is real and not fictional.

The student(s) used a fitting game-theory model to analyse the real-life example.

The student(s) correctly solved the model and discussed what the model’s prediction shares in common with the real-life example.

The student(s) found at least one reasonably significant difference between the model’s prediction and the real-life example.

The student(s) proposed a reasonable way to modify the model so that it can fit the real-life example better.

Overall, I think the student(s) wrote a great essay.
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File named 【01，02，03 】are some basic knowledge in this course, but i need you to use the model in the files which names include dynamic complete infogames to write the essay, thank you!!!!