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t. e. Game theory is the study of mathematical models of strategic interactions among rational agents. [1] It has applications in many fields of social science, used extensively in economics as well as in logic, systems science and computer science. [2] Initially game theory addressed two-person zero-sum games, in which a participant's gains or ...
In game theory, a player 's strategy is any of the options which they choose in a setting where the optimal outcome depends not only on their own actions but on the actions of others. [1] The discipline mainly concerns the action of a player in a game affecting the behavior or actions of other players. Some examples of "games" include chess ...
The social choice function maps a type profile to an outcome. In games of mechanism design, agents send messages in a game environment . The equilibrium in the game can be designed to implement some social choice function . Mechanism design is a branch of economics, social choice theory, and game theory that deals with designing games (or ...
Stochastic game. In game theory, a stochastic game (or Markov game ), introduced by Lloyd Shapley in the early 1950s, [1] is a repeated game with probabilistic transitions played by one or more players. The game is played in a sequence of stages. At the beginning of each stage the game is in some state.
In game theory, the Nash equilibrium is the most commonly-used solution concept for non-cooperative games.A Nash equilibrium is a situation where no player could gain by changing their own strategy (holding all other players' strategies fixed).
A third example of Parrondo's paradox is drawn from the field of gambling. Consider playing two games, Game A and Game B with the following rules. For convenience, define to be our capital at time t, immediately before we play a game. Winning a game earns us $1 and losing requires us to surrender $1.
Chicken. In game theory, a correlated equilibrium is a solution concept that is more general than the well known Nash equilibrium. It was first discussed by mathematician Robert Aumann in 1974. [1] [2] The idea is that each player chooses their action according to their private observation of the value of the same public signal.
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 ...