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Game theorists commonly study how the outcome of a game is determined and what factors affect it. In game theory, a strategy is a set of actions that a player can take in response to the actions of others. Each player’s strategy is based on their expectation of what the other players are likely to do, often explained in terms of probability. [2]
The blue equilibrium is not subgame perfect because player two makes a non-credible threat at 2(2) to be unkind (U). A non-credible threat is a term used in game theory and economics to describe a threat in a sequential game that a rational player would not actually carry out, because it would not be in his best interest to do so.
An important problem in the theory of cooperative dynamic games is the time-consistency of a given imputation function (in Russian literature it is termed dynamic stability of optimality principle). Let say that a number of players has made a cooperative agreement at the start of the game.
As a result of its importance, the axiom has been independently rediscovered in various forms across a wide variety of fields, including economics, [1] cognitive science, social choice, [1] fair division, rational choice, artificial intelligence, probability, [2] and game theory.
Game theory has come to play an increasingly important role in logic and in computer science. Several logical theories have a basis in game semantics. In addition, computer scientists have used games to model interactive computations. Also, game theory provides a theoretical basis to the field of multi-agent systems. [124]
The first game is simply sequential―when player 2 makes a choice, both parties are already aware of whether player 1 has chosen O(pera) or F(ootball). The second game is also sequential, but the dotted line shows player 2's information set. This is the common way to show that when player 2 moves, he or she is not aware of what player 1 did.
The revelation principle is a fundamental result in mechanism design, social choice theory, and game theory which shows it is always possible to design a strategy-resistant implementation of a social decision-making mechanism (such as an electoral system or market). [1] It can be seen as a kind of mirror image to Gibbard's theorem.
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.