Public Goods Games


Public Goods Games Voting is an example of a public good within democratic societies, as it is necessary to hold public representatives accountable. However, it requires that citizens make informed decisions that may cost them both time and effort that they personally will not receive an immediate reward for. Public goods games are [...]

Public Goods Games 2017-07-19T09:35:01+00:00

Social Dilemma


Social Dilemma The idea of the social dilemma captures something very profound about the nature of social groups as it can be found in virtually all situations of interdependence between agents. The social dilemma captures the core dynamic within groups requiring collective action, where there is a conflict between an individual’s immediate personal [...]

Social Dilemma 2017-07-19T09:35:44+00:00

Cooperative Games


Cooperative Games Cooperative games involve a very different set of dynamics from those of competitive games and likewise require a different set of capabilities from the agents involved In game theory, a cooperative game is any situation of interdependence between agents wherein there is the possibility for cooperative structures to be formed, either through [...]

Cooperative Games 2017-07-19T09:36:20+00:00

Pareto Optimal Games


Pareto Optimality The stag hunt game illustrates the concept of Pareto optimality within game theory. The option of both players hunting a stag is considered Pareto optimal because players can not switch to any other outcome and make at least one party better off without making anyone worse off In economics Pareto optimality, [...]

Pareto Optimal Games 2017-07-19T09:37:10+00:00

Solution Concept


Solution Concept A solution concept is a formal rule that defines how agents should play the game. As such it may be understood as akin to an algorithm that specifies what actions the agents should take In game theory, a solution concept is a model or rule for predicting how a game will [...]

Solution Concept 2017-07-19T09:38:03+00:00

Non-Cooperative Games


In game theory, a primary distinction is made between those game structures that are cooperative and those that are non-cooperative. As we will see the fundamental dynamics surrounding the whole game are altered as we go from games whose structure is innately com

Non-Cooperative Games 2017-07-19T09:38:45+00:00

Elements of Games


Elements of Games Games involve adaptive agents(players) that act under a certain set of rules(strategies) in order to effect a certain outcome(payoffs) A game in game theory is any situation involving the interdependence between adaptive agents as they make choices that affect each other and the overall outcome of the situation. Games can be [...]

Elements of Games 2017-07-19T09:39:34+00:00

Games Models


Games Models Game theory tries to model situations of interdependence between adaptive agents, as can be found in virtually all human interaction. This article covers the basic features to the model of games within game theory. We talk about the two basic forms of representation, that of the normal form in a matrix [...]

Games Models 2017-07-19T09:40:19+00:00

Game Theory Overview


Game theory is the domain of applied mathematics that studies situations of interdependence between adaptive agents. A game is a system wherein adaptive agents are interdependent in effecting each other and the overall outcome.

Game Theory Overview 2017-07-19T09:48:10+00:00
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