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If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero. Thus, cutting a cake , where taking a more significant piece reduces the amount of cake available for others as much as it increases the amount available for that taker, is a zero-sum game if all participants value each unit of cake ...
Zero-sum bias is a cognitive bias towards zero-sum thinking; it is people's tendency to intuitively judge that a situation is zero-sum, even when this is not the case. [4] This bias promotes zero-sum fallacies, false beliefs that situations are zero-sum. Such fallacies can cause other false judgements and poor decisions.
In zero-sum games, the total benefit goes to all players in a game, for every combination of strategies, and always adds to zero (more informally, a player benefits only at the equal expense of others). [20] Poker exemplifies a zero-sum game (ignoring the possibility of the house's cut), because one wins exactly the amount one's opponents lose.
In a zero-sum situation, one side wins only because the other loses. Therefore, if you have zero-sum bias, you see most (all?) situations as a competition. And in case that definition isn’t ...
In the mathematical theory of games, in particular the study of zero-sum continuous games, not every game has a minimax value. This is the expected value to one of the players when both play a perfect strategy (which is to choose from a particular PDF). This article gives an example of a zero-sum game that has no value. It is due to Sion and ...
The concept of a mixed-strategy equilibrium was introduced by John von Neumann and Oskar Morgenstern in their 1944 book The Theory of Games and Economic Behavior, but their analysis was restricted to the special case of zero-sum games. They showed that a mixed-strategy Nash equilibrium will exist for any zero-sum game with a finite set of ...
The lump of labor fallacy is also known as the lump of jobs fallacy, fallacy of labour scarcity, fixed pie fallacy, and the zero-sum fallacy—due to its ties to zero-sum games. The term "fixed pie fallacy" is also used more generally to refer to the idea that there is a fixed amount of wealth in the world. [4]
Image credits: Sad_Goose3191 #6. A habit I learned from my mom as I grew up that I still do today: we usually had protein, a carb and two side dish vegetables for dinner most nights, and she used ...