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Constant sum: A game is a constant sum game if the sum of the payoffs to every player are the same for every single set of strategies. In these games, one player gains if and only if another player loses. A constant sum game can be converted into a zero sum game by subtracting a fixed value from all payoffs, leaving their relative order unchanged.
Game theory is the study of mathematical models of strategic interactions. [1] It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. [2]
Determined game (or Strictly determined game) In game theory, a strictly determined game is a two-player zero-sum game that has at least one Nash equilibrium with both players using pure strategies. [2] [3] Dictator A player is a strong dictator if he can guarantee any outcome regardless of the other players.
Zero-sum game is a mathematical representation in game theory and economic theory of a situation that involves two competing entities, where the result is an advantage for one side and an equivalent loss for the other. [1]
John Harsanyi – equilibrium theory (Nobel Memorial Prize in Economic Sciences in 1994) Monika Henzinger – algorithmic game theory and information retrieval; John Hicks – general equilibrium theory (including Kaldor–Hicks efficiency) Naira Hovakimyan – differential games and adaptive control; Peter L. Hurd – evolution of aggressive ...
The first theorem in this sense is von Neumann's minimax theorem about two-player zero-sum games published in 1928, [2] which is considered the starting point of game theory. Von Neumann is quoted as saying "As far as I can see, there could be no theory of games
Jean-François Mertens and Abraham Neyman (1981) proved that every two-person zero-sum stochastic game with finitely many states and actions has a uniform value. [3] If there is a finite number of players and the action sets and the set of states are finite, then a stochastic game with a finite number of stages always has a Nash equilibrium ...
In game theory, the electronic mail game is an example of an "almost common knowledge" incomplete information game. It illustrates the apparently paradoxical [ 1 ] situation where arbitrarily close approximations to common knowledge lead to very different strategical implications from that of perfect common knowledge.