Search results
Results from the WOW.Com Content Network
A payoff function for a player is a mapping from the cross-product of players' strategy spaces to that player's set of payoffs (normally the set of real numbers, where the number represents a cardinal or ordinal utility—often cardinal in the normal-form representation) of a player, i.e. the payoff function of a player takes as its input a ...
Risk dominance and payoff dominance are two related refinements of the Nash equilibrium (NE) solution concept in game theory, defined by John Harsanyi and Reinhard Selten.A Nash equilibrium is considered payoff dominant if it is Pareto superior to all other Nash equilibria in the game. 1 When faced with a choice among equilibria, all players would agree on the payoff dominant equilibrium since ...
"A best response to a coplayer’s strategy is a strategy that yields the highest payoff against that particular strategy". [9] A matrix is used to present the payoff of both players in the game. For example, the best response of player one is the highest payoff for player one’s move, and vice versa.
Payoff matrix: Template documentation. Usage. This template allows simple construction of 2-player, 2-strategy payoff matrices in game theory and other articles. ...
Payoff functions, u: Assign a payoff to a player given their type and the action profile. A payoff function, u= (u 1 , . . . , u N ) denotes the utilities of player i Prior, p : A probability distribution over all possible type profiles, where p(t) = p(t 1 , . . . ,t N ) is the probability that Player 1 has type t 1 and Player N has type t N .
I think the colour-coded matrix would be useful pedagogically to illustrate which payoffs are whose when the matrix is being explained (i.e. in an article about payoff matrices), but in all other cases (when a payoff matrix is being used not for its own sake), I'd prefer to see the standard ordered pair.
The expected payoff for playing strategy 1 / 2 Y + 1 / 2 Z must be greater than the expected payoff for playing pure strategy X, assigning 1 / 2 and 1 / 2 as tester values. The argument for mixed strategy dominance can be made if there is at least one mixed strategy that allows for dominance.
In game theory, an extensive-form game is a specification of a game allowing (as the name suggests) for the explicit representation of a number of key aspects, like the sequencing of players' possible moves, their choices at every decision point, the (possibly imperfect) information each player has about the other player's moves when they make a decision, and their payoffs for all possible ...