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Pages:
3 pages/≈825 words
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Style:
APA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
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Topic:

How can game theory help in deciding the reopen dates of each state?

Essay Instructions:

State University of New York at Buffalo
Department of Economics
ECO 467/567 Economics and Game Theory (credit units: 3)Spring 2020 - Online
Additional Instructions
The revised timeline is attached in UBlearns, including the due dates of
o Quiz 3, Quiz 4, 
o Exam 1, Exam 2, 
o Assignments of Chapters 8, 9, 10, 
o Final essay
The two quizzes will use the similar format you saw in Quiz 2.
Exams are open book. I will give you 2-3 problems for each and you only need to solve one of them. You will have enough minutes to finish and submit the problem you choose. Handwriting is ok but please make sure the writing is legible. 
Assignments will be done the same way we used with Chapters 5-7.
The final essay will be about one of the questions you posted on Packback. You will provide details about why you care, why it is related to the course, and what you learn. Of course, you are not going to write a thesis, a possible way of doing it is:
o Step 1: Introduce the question, and explain the relevance.
o Step 2: State your initial answer/opinion/understanding.
o Step 3: If the question received answers from others, summarize them in a logical manner. And then provide your response to them.
o Step 4: You should have gained additional ideas by further learning the topic, for example by reading the textbook or other people’s questions and responses, so you can discuss them. But do not go off-topic.
The final essay should not have more than 1,000 word count, excluding tables and bibliography. The font-size should be 11-12 point. I expect the writing to be clear and have the grammar checked (you can use free services such as grammarly.com). 
All of the above will be done via UBlearns.

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Final Essay
How can game theory help in deciding the reopen dates of each state?
The game theory is a subdivision of mathematics majoring with the analysis of the strategies that deal with competitive situations, where the result of the member’s choice of action depends censoriously on the act of the other members (McAdams, 2). Currently, the whole world is experiencing severe nightmares dealing with the new highly infectious disease known as the Covid 19 pandemic. Different groups of people, such as the government officials and healthcare workers, are trying to make strategic decisions that will lead to the success of combating the disease. In this essay, my question focuses on how the involved parties can use the game theory in deciding the reopening dates of their states (David and Rothfeld, 3). The relevance of this question is to help people understand the importance of game theory in decision making. Additionally, the question aims at enabling people to understand the proper ways that the parties should use to reopen the states and the correct methods of determining the reopening dates.
Based on my opinion, I believe that game theory is an essential tool that can enable people across the world to make strategic decisions. Hence, during the current pandemic, people from all levels should use it to make the right decisions, which can prevent adverse effects on people’s health and economy. I understand that the pandemic forced the closing down of various states and businesses globally, and this is causing the economic slowdown. Hence, using the game theory technique effectively can play significant roles in helping the countries to wake their economies and healthcare systems (Holden, 2). Many countries across the world, have embraced the use of the theory in various ways. For instance, the healthcare sector is using the approach to make calculations that can mitigate the risks of contracting the Covid 19 infections in the reopening states. Based on my understanding, the healthcare departments dealing with the prevention and control of the disease can use the theory in determining the dates of reopening areas through setting up various protocols. For instance, in an area that had high rates of infection can open at a later date as compared to a state that had a smaller caseload of the infections.
When I introduced my question to the class members, I received some responses relating to the reopening dates of the locked states. According to Kevin Ospina, the use of game theory during the Covid 19 pandemic is one of the best decisions that a state can take. He also states that through the use of the theory, he has witnessed one of the best decisions made by Mr. Cuomo of t...
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