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Eighteenth century British mathematician who recognized a method for probabilistic mathematical inference. His Bayes Theorem, published posthumously, treats probability as a logic. His "professional" life was as an intended minister outside of London.
The title of a "player" who selects from among her methods randomly, primarily based on some predetermined chance distribution, instead of strategically, primarily based on payoffs
The best reply dynamic is usally termed the Cournot adjustment model or Cournot learning after Augustin Cournot who first proposed it in the context of a duopoly model. Each of two
Rollback (often referred to as backward induction) is an iterative method for solving finite in depth kind or sequential games. First, one determines the optimal strategy of the pl
Cardinal payoffs are numbers representing the outcomes of a game where the numbers represent some continuum of values, such as money, market share or quantity. Cardinal payoffs per
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
In any game, utility represents the motivations of players. A utility perform for a given player assigns variety for each potential outcome of the sport with the property that a be
The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,
1. The town of Sunnydale, CA is inhabited by two vampires, Spike and Anya. Each night Spike and Anya independently hunt for food, which each one finds with probability 1/2 . Becaus
A type of sequential second worth auction during which an auctioneer directs participants to beat the present, standing bid. New bids should increase the present bid by a predefine
A type of initial worth auction during which a "clock" initially indicates a worth for the item for sale substantially beyond any bidder is probably going to pay. Then, the clock g
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