Equilibrium, Game Theory

 

An equilibrium, (or Nash equilibrium, named when John Nash) may be a set of methods, one for every player, such that no player has incentive to unilaterally amendment her action. Players are in equilibrium if a amendment in methods by anyone of them would lead that player to earn but if she remained along with her current strategy. For games during which players randomize (mixed strategies), the expected or average payoff should be a minimum of as massive as that obtainable by the other strategy.

 

Posted Date: 7/21/2012 3:54:12 AM | Location : United States







Related Discussions:- Equilibrium, Assignment Help, Ask Question on Equilibrium, Get Answer, Expert's Help, Equilibrium Discussions

Write discussion on Equilibrium
Your posts are moderated
Related Questions
When players interact by enjoying an identical stage game (such because the prisoner's dilemma) varied times, the sport is termed an iterated (or repeated) game. not like a game pl

Ronaldo (Brazil) kicks a penalty against Casillas (Spain) in the 2006 World Cup nal. Sup- pose that Ronaldo can kick the ball to Casillas' upper left (UL), lower left (LL), upper r

what are the theories of financial crisis

Experimental economics is bothered with utilizing laboratory experiments to realize understanding of how cognition, memory, and heuristics have an effect on behavior of individuals

A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a st

saaaaaaasfffffffffffffffffffaaaczzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Paired Prisoners' Dilemma Students can be paired off and instructed to play several ver-sions of a particular game with a prisoners' dilemma structure.Provide each pair with a

An auction during which the bidder who submitted the very best bid is awarded the item being sold and pays a worth equal to the number bid. Alternately, in a very procurement aucti

The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is the Nash Equilibri

Combining Simultaneous and  Sequential Moves The material in this chapter covers a variety of issues that require some knowledge of the analysis of both sequential- move