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Non-cooperative game theory provides a low-level approach as it models all the procedural details of the game, whereas cooperative game theory only describes the structure, strategies and payoffs of coalitions. Therefore, cooperative game theory is referred to as coalitional, and non-cooperative game theory is procedural. [7]
In game theory, a game is said to be a potential game if the incentive of all players to change their strategy can be expressed using a single global function called the potential function. The concept originated in a 1996 paper by Dov Monderer and Lloyd Shapley. [1] The properties of several types of potential games have since been studied.
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.
Matching pennies is a non-cooperative game studied in game theory. It is played between two players, Even and Odd. Each player has a penny and must secretly turn the penny to heads or tails. The players then reveal their choices simultaneously. If the pennies match (both heads or both tails), then Even wins and keeps both pennies.
Tacit collusion is best understood in the context of a duopoly and the concept of game theory (namely, Nash equilibrium). Let's take an example of two firms A and B, who both play an advertising game over an indefinite number of periods (effectively saying 'infinitely many'). Both of the firms' payoffs are contingent upon their own action, but ...
Quantum game theory is an extension of classical game theory to the quantum domain. It differs from classical game theory in three primary ways: Superposed initial states, Quantum entanglement of initial states, Superposition of strategies to be used on the initial states. This theory is based on the physics of information much like quantum ...
In game theory, a win–win game or win–win [1] scenario is a situation that produces a mutually beneficial outcome for two or more parties. [2] It is also called a positive-sum game as it is the opposite of a zero-sum game.
When the players have private information (e.g. their type or their value to some item), and the strategy space of each player consists of the possible information values (e.g. possible types or values), a truthful mechanism is a game in which revealing the true information is a weakly-dominant strategy for each player.