Search results
Prisoner's dilemma. The prisoner's dilemma is a game theory thought experiment that involves two rational agents, each of whom can cooperate for mutual benefit or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher in 1950 while they worked at the RAND Corporation. [1]
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.
The Journal of Conflict Resolution 24: 379-403 (1980). Game theory is the mathematical analysis of decision making. In game theory, the interaction between two or more players is often framed in terms of a game with a particular set of rules. Of interest may be the strategies that give optimal outcomes for each of the players or, conversely ...
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.
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.
A game in game theory is a mathematical model, which is used to describe a process, as follows: This definition excludes all "games" where there is only one actor. Game theory developed from describing very specific games into a model that is used for strategic decision-making. John von Neumann and Oskar Morgenstern first described game theory.
Outcome (game theory) In game theory, the outcome of a game is the ultimate result of a strategic interaction with one or more people, dependant on the choices made by all participants in a certain exchange. It represents the final payoff resulting from a set of actions that individuals can take within the context of the game.
