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Strategy. 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 ...
Information set (game theory) The information set is the basis for decision making in a game, which includes the actions available to both sides and the benefits of each action. The information set is an important concept in non-perfect games. In game theory, an information set is the set of all possible actions in the game for a given player ...
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 ...
Evolutionary game theory analyses Darwinian mechanisms with a system model with three main components – population, game, and replicator dynamics. The system process has four phases: 1) The model (as evolution itself) deals with a population (Pn). The population will exhibit variation among competing individuals.
Proposed by. John Forbes Nash Jr. Used for. All non-cooperative games. 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). [1]
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.
Theory of Games and Economic Behavior, published in 1944 by Princeton University Press, is a book by mathematician John von Neumann and economist Oskar Morgenstern which is considered the groundbreaking text that created the interdisciplinary research field of game theory.
Behavioral game theory seeks to examine how people's strategic decision-making behavior is shaped by social preferences, social utility and other psychological factors. [1] Behavioral game theory analyzes interactive strategic decisions and behavior using the methods of game theory, [2] experimental economics, and experimental psychology.