Public Goods Games


Public Goods Games Public goods games are social dynamics that involve three main components: they involve resources that are jointly provided; the resource is non-excludable in nature; it is also non-rivalrous.1 Economic theory describes the problem of public-good provision through individual contributions as a game in which agents have to decide how much of some resource to [...]

Public Goods Games 2018-06-19T18:05:38+00:00

Social Dilemma


Social Dilemma The social dilemma captures the core dynamic within groups requiring collective action, where there is a conflict between an individual’s immediate personal or selfish interests and the actions that maximize the interests of the group.1 At the heart of social dilemmas lies a disjunction between the costs to the individual and the cost [...]

Social Dilemma 2018-06-19T18:05:32+00:00

Cooperative Games


Cooperative Games 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 peer communications, a third party or some other social or cultural institution. Cooperative game theory is interested in such questions as; when does a group form a coalition or what members [...]

Cooperative Games 2018-06-19T18:05:23+00:00

Pareto Optimal Games


Pareto Optimality In economics Pareto optimality, also called "Pareto efficiency" is a state where the resources in a system are distributed in the most efficient manner, and it is realized when there is some allocation process where one party's situation cannot be improved without making another party's situation worse.1 Named after Vilfredo Pareto, Pareto optimality is a [...]

Pareto Optimal Games 2018-06-19T18:05:17+00:00

Solution Concept


Solution Concept In game theory, a solution concept is a model or rule for predicting how a game will be played.1 These predictions are called "solutions", and describe which strategies will be adopted by players and, hence, the result of the game. The most commonly used solution concepts are equilibrium concepts. Where we look for [...]

Solution Concept 2018-06-19T18:05:10+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 2018-06-19T18:05:03+00:00

Elements of Games


Elements of Games 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 identified as having a number of central elements, which can be identified as players, strategies, and payoffs.View Source  In order to [...]

Elements of Games 2018-06-19T18:04:52+00:00

Games Models


Games Models 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 model and that of the extensive form as a tree graph which unfolds over time. We look at the important role of information, [...]

Games Models 2018-06-19T18:04:43+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 2018-06-19T18:07:37+00:00