Search results
Results from the WOW.Com Content Network
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 ...
Only one rationalizable strategy is left {A,X} which results in a payoff of (10,4). This is the single Nash Equilibrium for this game. Another version involves eliminating both strictly and weakly dominated strategies. If, at the end of the process, there is a single strategy for each player, this strategy set is also a Nash equilibrium ...
In game theory, a dominant strategy is a strategy that is better than any other strategy for a player, no matter how that player's opponent or opponents play. Strategies that are dominated by another strategy can be eliminated from consideration, as they can be strictly improved upon. Some very simple games can be solved using dominance.
Risk dominance and payoff dominance are two related refinements of the Nash equilibrium (NE) solution concept in game theory, defined by John Harsanyi and Reinhard Selten.A Nash equilibrium is considered payoff dominant if it is Pareto superior to all other Nash equilibria in the game. 1 When faced with a choice among equilibria, all players would agree on the payoff dominant equilibrium since ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Learn how to download and install or uninstall the Desktop Gold software and if your computer meets the system requirements.
The rule goes as follows: if the first payoff number, in the payoff pair of the cell, is the maximum of the column of the cell and if the second number is the maximum of the row of the cell - then the cell represents a Nash equilibrium.
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.