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Pooling Equilibrium
A pooling equilibrium in game theory is an equilibria result of a signaling game. In a signaling game, players send actions called "signals" to other players in the game. Signaling actions are chosen based on privately held information (not known by other players in the game). These actions do not reveal a player's "type" to other players in the game, and other players will choose strategies Strategy (from Greek στρατηγία ''stratēgia'', "art of troop leader; office of general, command, generalship") is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the " ar ... accordingly. Under this equilibria, all types of a given sender will send the same signal, some representing their true type, some correctly mimicking the type of others, as they have no incentive to differentiate themselves. The receiver therefore acts like having received no information/message maximizing his/her utility according to his ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Theory
Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by those of other participants. In the 21st century, game theory applies to a wide range of behavioral relations; it is now an umbrella term for the science of logical decision making in humans, animals, as well as computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum game and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathema ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Signaling Game
In game theory, a signaling game is a simple type of a dynamic Bayesian game.Subsection 8.2.2 in Fudenberg Trole 1991, pp. 326–331 The essence of a signalling game is that one player takes an action, the signal, to convey information to another player, where sending the signal is more costly if they are conveying false information. A manufacturer, for example, might provide a warranty for its product in order to signal to consumers that its product is unlikely to break down. The classic example is of a worker who acquires a college degree not because it increases their skill, but because it conveys their ability to employers. A simple signalling game would have two players, the sender and the receiver. The sender has one of two types that we might call "desirable" and "undesirable" with different payoff functions, where the receiver knows the probability of each type but not which one this particular sender has. The receiver has just one possible type. The sender moves first, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategy
Strategy (from Greek στρατηγία ''stratēgia'', "art of troop leader; office of general, command, generalship") is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including military tactics, siegecraft, logistics etc., the term came into use in the 6th century C.E. in Eastern Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills" in a military conflict, in which both adversaries interact. Strategy is important because the resources available to achieve goals are usually limited. Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to execu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Separating Equilibrium
In signaling games, a separating equilibrium is a type of perfect Bayesian equilibrium where agents with different characteristics choose different actions. See also *Signaling games *Pooling equilibrium *Cheap talk In game theory, cheap talk is communication between players that does not directly affect the payoffs of the game. Providing and receiving information is free. This is in contrast to signaling in which sending certain messages may be costly for th ... References {{Game theory Game theory game classes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Theory Equilibrium Concepts
A game is a structured form of play, usually undertaken for entertainment or fun, and sometimes used as an educational tool. Many games are also considered to be work (such as professional players of spectator sports or games) or art (such as jigsaw puzzles or games involving an artistic layout such as Mahjong, solitaire, or some video games). Games are sometimes played purely for enjoyment, sometimes for achievement or reward as well. They can be played alone, in teams, or online; by amateurs or by professionals. The players may have an audience of non-players, such as when people are entertained by watching a chess championship. On the other hand, players in a game may constitute their own audience as they take their turn to play. Often, part of the entertainment for children playing a game is deciding who is part of their audience and who is a player. A toy and a game are not the same. Toys generally allow for unrestricted play whereas games come with present rules. K ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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