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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.
A Markov perfect equilibrium is an equilibrium concept in game theory.It has been used in analyses of industrial organization, macroeconomics, and political economy.It is a refinement of the concept of subgame perfect equilibrium to extensive form games for which a pay-off relevant state space can be identified.
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 ...
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]
The 'unitary executive theory' Driving Trump's strategy is a legal framework championed by conservatives, perhaps most notably by Trump's newly-confirmed director of White House Office of ...
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 trigger strategy is any of a class of strategies employed in a repeated non-cooperative game. A player using a trigger strategy initially cooperates but punishes the opponent if a certain level of defection (i.e., the trigger) is observed.