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A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably higher to play another strategy, no matter what opponents might do. If a player contains a dominant strategy than all others are dominated, however the converse isn't invariably true. A strictly dominant strategy is usually played in equilibrium, and therefore strictly dominated methods never are. for instance, within the prisoner's dilemma, every player contains a dominated strategy. Equilibria exist with weakly dominated methods, however.
Something in a very game is Mutual information if all players realize it. A seemingly straightforward concept, mutual information is insufficient to research most games, since it's
Matches or different objects are organized in 2 or a lot of piles. Players alternate removing some or all of the matches from anyone pile. The player to get rid of the last match w
Suppose that the incumbent monopolist, in the previous question, can decide (before anything else happens) to make an irreversible investment in extra Capacity (C), or Not (N). If
Games with Sequential Moves Most students find the idea of rollback very simple and natural, even without drawing or understanding trees. Of course, they start by being able to
Two individuals (i ∈ {1, 2}) work independently on a joint project. They each independently decide how much e ort ei they put. E ort choice has to be any real number between 0 and
1. Two firms, producing an identical good, engage in price competition. The cost functions are c 1 (y 1 ) = 1:17y 1 and c 2 (y 2 ) = 1:19y 2 , correspondingly. The demand functi
A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably
The ideas underlying game theory have appeared throughout history, apparent within the bible, the Talmud, the works of Descartes and Sun Tzu, and also the writings of Chales Darwin
Rollback equilibrium (b) In the rollback equilibrium, A and B vote For while C and D vote Against; this leads to payoffs of (3, 4, 3, 4). The complete equil
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