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Different Divisions of Social Psychology and Game Theory in the Field of Economics

The concept of social psychology and game theory plays a significant role in economics. This approach is also useful in biology, political science, computer science, etc. The social psychology deals with the study of thought, behaviour, and feeling of a person which makes him act in a certain way in the presence of individuals. The game theory relates to the behavioural relations where the profit of one person leads to the loss of others.

Different Types of Social Psychology

In social psychology and game theory homework help, you can find various ideas which depend according to the social and cognitive situation. Let’s check the explanation for some of the theories.

  1. Drive Theory

This theory states that the human behaviour can result in a typical or dominant response because of an arousal under the influence of the people present near the person.

  1. Social Learning Theory

This theory aims at explaining the concept when people acquire the behaviour by imitating or observing another person.

  1. Attribution Theory

It suggests the impact of the individual’s attribute that leads to the events. It is of two types. The internal characteristics which can also be known as the dispositional attribute. It refers to the factors that come from within a person. The second one is an external or situational attribute. It relates to the outside factors.

  1. Cognitive Dissonance Theory

This concept relates to the action of the people which is contradictory to their own beliefs and views. As a result, it brings about a change in their attitude and behaviour.

  1. Motivation Crowding Theory

It states that the extrinsic motivators can lessen or strengthen the effectiveness of the intrinsic motivation under different situations.

The Divisions of Game Theory

The game theory does the analysis of the problems with the use of different games. The social psychology and game theory assignment help suggests that the development of these games depend on the number of players and their cooperation. They are:

  • Normal and Extensive Form

The normal form explains the game in a tabular or matrix model whereas, in extensive form, the game displays the model of a tree.

  • Simultaneous and Sequential Move

In a simultaneous move, the players are not aware of the moves of other players while in the sequential movie, it’s the opposite.

  • Cooperative and No cooperative Game

In cooperative games, the players follow a particular strategy with the consultation of other stakeholders. In non-cooperation, players try their strategy to gain benefits.

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