Search results
Results from the WOW.Com Content Network
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.
In game theory, the electronic mail game is an example of an "almost common knowledge" incomplete information game. It illustrates the apparently paradoxical [ 1 ] situation where arbitrarily close approximations to common knowledge lead to very different strategical implications from that of perfect common knowledge.
[1] An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory. [2] Game theory is mainly used in economics, political science, and psychology, as well as logic and biology. The subject first addressed zero-sum games, such that one person's gains exactly equal net losses of the other participant(s).
Game theory is the study of mathematical models of strategic interactions. [1] It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. [2]
In game theory, a focal point (or Schelling point) is a solution that people tend to choose by default in the absence of communication in order to avoid coordination failure. [1] The concept was introduced by the American economist Thomas Schelling in his book The Strategy of Conflict (1960). [ 2 ]
The game was introduced in 1957 by R. Duncan Luce and Howard Raiffa in their classic book, Games and Decisions. [1] Some authors prefer to avoid assigning sexes to the players and instead use Players 1 and 2, and some refer to the game as Bach or Stravinsky, using two concerts as the two events. [2]
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.
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.