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The ludic fallacy, proposed by Nassim Nicholas Taleb in his book The Black Swan , is "the misuse of games to model real-life situations". [1] Taleb explains the fallacy as "basing studies of chance on the narrow world of games and dice". [2] The adjective ludic originates from the Latin noun ludus, meaning "play, game, sport, pastime". [3]
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.
The El Farol bar problem is a problem in game theory.Every Thursday night, a fixed population want to go have fun at the El Farol Bar, unless it's too crowded. If less than 60% of the population go to the bar, they'll all have more fun than if they stayed home.
Separately, game theory has played a role in online algorithms; in particular, the k-server problem, which has in the past been referred to as games with moving costs and request-answer games. [124] Yao's principle is a game-theoretic technique for proving lower bounds on the computational complexity of randomized algorithms , especially online ...
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.
In game theory, fictitious play is a learning rule first introduced by George W. Brown. In it, each player presumes that the opponents are playing stationary (possibly mixed) strategies. In it, each player presumes that the opponents are playing stationary (possibly mixed) strategies.
Warning: This post contains some spoilers for Fight Night: The Million Dollar Heist.. On Oct. 26, 1970, Muhammad Ali made a historic return to the boxing ring after being sidelined for three and a ...
Conditions on G (the stage game) – whether there are any technical conditions that should hold in the one-shot game in order for the theorem to work. Conditions on x (the target payoff vector of the repeated game) – whether the theorem works for any individually rational and feasible payoff vector, or only on a subset of these vectors.