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t. e. 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 ] Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly ...
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 ] In other words, player one's gain is equivalent to player two's loss, with the result that the net improvement in benefit ...
Sequential game: A game is sequential if one player performs their actions after another player; otherwise, the game is a simultaneous move game. Perfect information: A game has perfect information if it is a sequential game and every player knows the strategies chosen by the players who preceded them. Constant sum: A game is a constant sum ...
Mathematicians playing Kōnane at a combinatorial game theory workshop. Combinatorial game theory is a branch of mathematics and theoretical computer science that typically studies sequential games with perfect information. Study has been largely confined to two-player games that have a position that the players take turns changing in defined ...
In game theory terms, an expectiminimax tree is the game tree of an extensive-form game of perfect, but incomplete information. In the traditional minimax method, the levels of the tree alternate from max to min until the depth limit of the tree has been reached. In an expectiminimax tree, the "chance" nodes are interleaved with the max and min ...
Stackelberg competition. The Stackelberg leadership model is a strategic game in economics in which the leader firm moves first and then the follower firms move sequentially (hence, it is sometimes described as the "leader-follower game"). It is named after the German economist Heinrich Freiherr von Stackelberg who published Marktform und ...
Folk theorem (game theory) For other uses, see Folk theorem (disambiguation). In game theory, folk theorems are a class of theorems describing an abundance of Nash equilibrium payoff profiles in repeated games (Friedman 1971). [ 1 ] The original Folk Theorem concerned the payoffs of all the Nash equilibria of an infinitely repeated game.
In game theory, a cooperative game (or coalitional game) is a game with groups of players who form binding “coalitions” with external enforcement of cooperative behavior (e.g. through contract law). This is different from non-cooperative games in which there is either no possibility to forge alliances or all agreements need to be self ...