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Strategic Dominance
In game theory, strategic dominance (commonly called simply dominance) occurs when one strategy is better than another strategy for one player, no matter how that player's opponents may play. Many simple games can be solved using dominance. The opposite, intransitivity, occurs in games where one strategy may be better or worse than another strategy for one player, depending on how the player's opponents may play. Terminology When a player tries to choose the "best" strategy among a multitude of options, that player may compare two strategies A and B to see which one is better. The result of the comparison is one of: * B is equivalent to A: choosing B always gives the same outcome as choosing A, no matter what the other players do. * B strictly dominates A: choosing B always gives a better outcome than choosing A, no matter what the other players do. * B weakly dominates A: choosing B always gives at least as good an outcome as choosing A, no matter what the other players do, and ... [...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] |
Figure 3 IDSDS V2
Figure may refer to: General *A shape, drawing, depiction, or geometric configuration *Figure (wood), wood appearance *Figure (music), distinguished from musical motif *Noise figure, in telecommunication *Dance figure, an elementary dance pattern *A person's figure, human physical appearance Arts *Figurine, a miniature statuette representation of a creature *Action figure, a posable jointed solid plastic character figurine *Figure painting, realistic representation, especially of the human form *Figure drawing *Model figure, a scale model of a creature Writing *figure, in writing, a type of floating block (text, table, or graphic separate from the main text) *Figure of speech, also called a rhetorical figure *Christ figure, a type of character * in typesetting, text figures and lining figures Accounting *Figure, a synonym for number *Significant figures in a decimal number Science *Figure of the Earth, the size and shape of the Earth in geodesy Sports *Figure (horse), a st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Winning Strategy
Determinacy is a subfield of set theory, a branch of mathematics, that examines the conditions under which one or the other player of a game has a winning strategy, and the consequences of the existence of such strategies. Alternatively and similarly, "determinacy" is the property of a game whereby such a strategy exists. Determinacy was introduced by Gale and Stewart in 1950, under the name "determinateness". The games studied in set theory are usually Gale–Stewart games—two-player games of perfect information in which the players make an infinite sequence of moves and there are no draws. The field of game theory studies more general kinds of games, including games with draws such as tic-tac-toe, chess, or infinite chess, or games with imperfect information such as poker. Basic notions Games The first sort of game we shall consider is the two-player game of perfect information of length ω, in which the players play natural numbers. These games are often called Ga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Dominance
Risk dominance and payoff dominance are two related refinements of the Nash equilibrium (NE) solution concept in game theory, defined by John Harsanyi and Reinhard Selten. A Nash equilibrium is considered payoff dominant if it is Pareto superior to all other Nash equilibria in the game. When faced with a choice among equilibria, all players would agree on the payoff dominant equilibrium since it offers to each player at least as much payoff as the other Nash equilibria. Conversely, a Nash equilibrium is considered risk dominant if it has the largest basin of attraction (i.e. is less risky). This implies that the more uncertainty players have about the actions of the other player(s), the more likely they will choose the strategy corresponding to it. The payoff matrix in Figure 1 provides a simple two-player, two-strategy example of a game with two pure Nash equilibria. The strategy pair (Hunt, Hunt) is payoff dominant since payoffs are higher for both players compared to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newcomb's Paradox
In philosophy and mathematics, Newcomb's paradox, also known as Newcomb's problem, is a thought experiment involving a game between two players, one of whom is able to predict the future. Newcomb's paradox was created by William Newcomb of the University of California's Lawrence Livermore Laboratory. However, it was first analyzed in a philosophy paper by Robert Nozick in 1969 and appeared in the March 1973 issue of ''Scientific American'', in Martin Gardner's "Mathematical Games". Reprinted with an addendum and annotated bibliography in his book ''The Colossal Book of Mathematics'' (). Today it is a much debated problem in the philosophical branch of decision theory. The problem There is a reliable predictor, another player, and two boxes designated A and B. The player is given a choice between taking only box B or taking both boxes A and B. The player knows the following: * Box A is transparent and always contains a visible $1,000. * Box B is opaque, and its content has already b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Max-dominated Strategy
In game theory a max-dominated strategy is a strategy which is not a best response to any strategy profile of the other players. This is an extension to the notion of strictly dominated strategies, which are max-dominated as well. Definition Max-dominated strategies A strategy s_i\in S_i of player i is ''max-dominated'' if for every strategy profile of the other players s_\in S_ there is a strategy s^\prime_i\in S_i such that u_i(s^\prime_i,s_)> u_i(s_i,s_). This definition means that s_i is not a best response to any strategy profile s_, since for every such strategy profile there is another strategy s^\prime_i which gives higher utility than s_i for player i. If a strategy s_i\in S_i is strictly dominated by strategy s^\prime_i \in S_i then it is also max-dominated, since for every strategy profile of the other players s_\in S_, s^\prime_i is the strategy for which u_i(s^\prime_i,s_)> u_i(s_i,s_). Even if s_i is strictly dominated by a mixed strategy it is also max-dominated. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbitrage
In economics and finance, arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price. In principle and in academic use, an arbitrage is risk-free; in common use, as in statistical arbitrage, it may refer to ''expected'' profit, though losses may occur, and in practice, there are always risks in arbitrage, some minor (such as fluctuation of prices decreasing profit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rationalizability
In game theory, rationalizability is a solution concept. The general idea is to provide the weakest constraints on players while still requiring that players are rational and this rationality is common knowledge among the players. It is more permissive than Nash equilibrium. Both require that players respond optimally to some belief about their opponents' actions, but Nash equilibrium requires that these beliefs be correct while rationalizability does not. Rationalizability was first defined, independently, by Bernheim (1984) and Pearce (1984). Definition Given a normal-form game, the rationalizable set of actions can be computed as follows: Start with the full action set for each player. Next, remove all actions which are never a best reply to any belief about the opponents' actions -- the motivation for this step is that no rational player could choose such actions. Next, remove all actions which are never a best reply to any belief about the opponents' remaining actions - ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mixed Stragety Domination , a person who is of multiple races
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Mixed is the past tense of ''mix''. Mixed may refer to: * Mixed (United Kingdom ethnicity category), an ethnicity category that has been used by the United Kingdom's Office for National Statistics since the 1991 Census * ''Mixed'' (album), a compilation album of two avant-garde jazz sessions featuring performances by the Cecil Taylor Unit and the Roswell Rudd Sextet See also * Mix (other) * Mixed breed, an animal whose parents are from different breeds or species * Mixed ethnicity Mixed race people are people of more than one race or ethnicity. A variety of terms have been used both historically and presently for mixed race people in a variety of contexts, including ''multiethnic'', ''polyethnic'', occasionally ''bi-ethn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iterated Elimination By Mixed Strategy Example
Iteration is the repetition of a process in order to generate a (possibly unbounded) sequence of outcomes. Each repetition of the process is a single iteration, and the outcome of each iteration is then the starting point of the next iteration. In mathematics and computer science, iteration (along with the related technique of recursion) is a standard element of algorithms. Mathematics In mathematics, iteration may refer to the process of iterating a function, i.e. applying a function repeatedly, using the output from one iteration as the input to the next. Iteration of apparently simple functions can produce complex behaviors and difficult problems – for examples, see the Collatz conjecture and juggler sequences. Another use of iteration in mathematics is in iterative methods which are used to produce approximate numerical solutions to certain mathematical problems. Newton's method is an example of an iterative method. Manual calculation of a number's square root is a co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Figure 6 IDSDS
Figure may refer to: General *A shape, drawing, depiction, or geometric configuration *Figure (wood), wood appearance *Figure (music), distinguished from musical motif *Noise figure, in telecommunication *Dance figure, an elementary dance pattern *A person's figure, human physical appearance Arts *Figurine, a miniature statuette representation of a creature *Action figure, a posable jointed solid plastic character figurine *Figure painting, realistic representation, especially of the human form *Figure drawing *Model figure, a scale model of a creature Writing *figure, in writing, a type of floating block (text, table, or graphic separate from the main text) *Figure of speech, also called a rhetorical figure *Christ figure, a type of character * in typesetting, text figures and lining figures Accounting *Figure, a synonym for number *Significant figures in a decimal number Science *Figure of the Earth, the size and shape of the Earth in geodesy Sports *Figure (horse), a sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Figure 5 IDSDS
Figure may refer to: General *A shape, drawing, depiction, or geometric configuration *Figure (wood), wood appearance *Figure (music), distinguished from musical motif *Noise figure, in telecommunication *Dance figure, an elementary dance pattern *A person's figure, human physical appearance Arts *Figurine, a miniature statuette representation of a creature *Action figure, a posable jointed solid plastic character figurine *Figure painting, realistic representation, especially of the human form *Figure drawing *Model figure, a scale model of a creature Writing *figure, in writing, a type of floating block (text, table, or graphic separate from the main text) *Figure of speech, also called a rhetorical figure *Christ figure, a type of character * in typesetting, text figures and lining figures Accounting *Figure, a synonym for number *Significant figures in a decimal number Science *Figure of the Earth, the size and shape of the Earth in geodesy Sports *Figure (horse), a sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
