Discuss the concept of stag hunt games in game theory.

Discuss the concept of stag hunt games in game theory.

Stag hunt games in game theory refer to situations where players have to choose between cooperating for a potentially higher payoff or acting individually for a guaranteed but lower payoff. The concept is derived from a hunting scenario where two hunters can either choose to hunt a stag (which requires cooperation and yields a higher payoff) or hunt a hare (which can be done individually but yields a lower payoff). The key aspect of stag hunt games is the coordination problem, where players need to trust each other and coordinate their actions to achieve the higher payoff. This concept highlights the importance of cooperation and the potential risks and benefits associated with it in strategic decision-making.