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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.
In game theory terms, the players of this game are a leader and a follower and they compete on quantity. The Stackelberg leader is sometimes referred to as the Market Leader. There are some further constraints upon the sustaining of a Stackelberg equilibrium. The leader must know ex ante that the follower observes its action. The follower must ...
In 2011 the website added seven games and 16 lesson plans, and had over 700,000 unique visitors. [12] By 2013 it was the most widely adopted civics curriculum in America. [8] Currently, the governing board of iCivics includes O’Connor as well as current Justice Sonia Sotomayor and the Honorable Robert Henry, president of Oklahoma City University.
Tacit collusion is best understood in the context of a duopoly and the concept of game theory (namely, Nash equilibrium). Let's take an example of two firms A and B, who both play an advertising game over an indefinite number of periods (effectively saying 'infinitely many'). Both of the firms' payoffs are contingent upon their own action, but ...
Congestion games (CG) are a class of games in game theory. They represent situations which commonly occur in roads, communication networks, oligopoly markets and natural habitats. There is a set of resources (e.g. roads or communication links); there are several players who need resources (e.g. drivers or network users); each player chooses a ...
Cooperative game theory is a branch of game theory that deals with the study of games where players can form coalitions, cooperate with one another, and make binding agreements. The theory offers mathematical methods for analysing scenarios in which two or more players are required to make choices that will affect other players wellbeing. [5]
Two-level game theory is a political model, derived from game theory, that illustrates the domestic-international interactions between states. It was originally introduced in 1988 by Robert D. Putnam in his publication "Diplomacy and Domestic Politics: The Logic of Two-Level Games".
In game theory, a Bayesian game is a strategic decision-making model which assumes players have incomplete information. Players may hold private information relevant to the game, meaning that the payoffs are not common knowledge. [1] Bayesian games model the outcome of player interactions using aspects of Bayesian probability.