Search results
Results from the WOW.Com Content Network
This page was last edited on 7 December 2021, at 06:46 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
This is a documentation subpage for Template:Payoff matrix. It may contain usage information, categories and other content that is not part of the original template page.
I think the colour-coded matrix would be useful pedagogically to illustrate which payoffs are whose when the matrix is being explained (i.e. in an article about payoff matrices), but in all other cases (when a payoff matrix is being used not for its own sake), I'd prefer to see the standard ordered pair.
A payoff function for a player is a mapping from the cross-product of players' strategy spaces to that player's set of payoffs (normally the set of real numbers, where the number represents a cardinal or ordinal utility—often cardinal in the normal-form representation) of a player, i.e. the payoff function of a player takes as its input a ...
A matrix is used to present the payoff of both players in the game. For example, the best response of player one is the highest payoff for player one’s move, and vice versa. For player one, they will pick the payoffs from the column strategies.
The pay-off for any single round of the game is defined by the pay-off matrix for a single round game (shown in bar chart 1 below). In multi-round games the different choices – co-operate or defect – can be made in any particular round, resulting in a certain round payoff.
For example, if you transfer $6,000 in credit card debt to a card offering 0% intro APR for 18 months, you could pay off the full amount by making $333 monthly payments with no added interest charges.
In game theory, a bimatrix game is a simultaneous game for two players in which each player has a finite number of possible actions. The name comes from the fact that the normal form of such a game can be described by two matrices - matrix describing the payoffs of player 1 and matrix describing the payoffs of player 2.