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Sequential game: A game is sequential if one player performs their actions after another player; otherwise, the game is a simultaneous move game. Perfect information: A game has perfect information if it is a sequential game and every player knows the strategies chosen by the players who preceded them. Constant sum: A game is a constant sum ...
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] Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly balanced by ...
Such a game can be represented as a higher-order game as follows. For each player i, the selection function returns the set of actions from X i that maximize the utility of agent i, given the context. Open games. The main object of study in CGT is the open game. An open game has the following elements: A set X of observations; A set Y of outcomes;
Combinatorial game theory is a branch of mathematics and theoretical computer science that typically studies sequential games with perfect information. Study has been largely confined to two-player games that have a position that the players take turns changing in defined ways or moves to achieve a defined winning condition.
In game theory, folk theorems are a class of theorems describing an abundance of Nash equilibrium payoff profiles in repeated games ( Friedman 1971 ). [1] The original Folk Theorem concerned the payoffs of all the Nash equilibria of an infinitely repeated game. This result was called the Folk Theorem because it was widely known among game ...
In cooperative game theory, the nucleolus of a cooperative game is the solution (i.e., allocation of payments to players) that maximizes the smallest excess of a coalition (where the excess is the difference between the payment given to the coalition and the value the coalition could get by deviating). Subject to that, the nucleolus satisfies ...
In the mathematical areas of order and lattice theory, the Knaster–Tarski theorem, named after Bronisław Knaster and Alfred Tarski, states the following: Let ( L, ≤) be a complete lattice and let f : L → L be an order-preserving (monotonic) function w.r.t. ≤ . Then the set of fixed points of f in L forms a complete lattice under ≤ .
In applied game theory, the definition of the strategy sets is an important part of the art of making a game simultaneously solvable and meaningful. The game theorist can use knowledge of the overall problem, that is the friction between two or more players, to limit the strategy spaces, and ease the solution. For instance, strictly speaking in ...