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A zero-sum game is also called a strictly competitive game, while non-zero-sum games can be either competitive or non-competitive. Zero-sum games are most often solved with the minimax theorem which is closely related to linear programming duality, [5] or with Nash equilibrium. Prisoner's Dilemma is a classic non-zero-sum game. [6]
In zero-sum games, the total benefit goes to all players in a game, for every combination of strategies, and always adds to zero (more informally, a player benefits only at the equal expense of others). [20] Poker exemplifies a zero-sum game (ignoring the possibility of the house's cut), because one wins exactly the amount one's opponents lose.
Matching Pennies is a zero-sum game because each participant's gain or loss of utility is exactly balanced by the losses or gains of the utility of the other participants. If the participants' total gains are added up and their total losses subtracted, the sum will be zero.
Zero-sum thinking perceives situations as zero-sum games, where one person's gain would be another's loss. [1] [2] [3] The term is derived from game theory. However, unlike the game theory concept, zero-sum thinking refers to a psychological construct—a person's subjective interpretation of a situation. Zero-sum thinking is captured by the ...
The first theorem in this sense is von Neumann's minimax theorem about two-player zero-sum games published in 1928, [2] which is considered the starting point of game theory. Von Neumann is quoted as saying "As far as I can see, there could be no theory of games
Nash won the Nobel prize for economics for this important result which extended von Neumann's theory of zero-sum games. Nash's stable solution is known as the Nash equilibrium. [21] If cooperation between players is allowed, then the game becomes more complex; many concepts have been developed to analyze such games.
The game is a potential game (Monderer and Shapley 1996-a,1996-b) The game has generic payoffs and is 2 × N (Berger 2005) Fictitious play does not always converge, however. Shapley (1964) proved that in the game pictured here (a nonzero-sum version of Rock, Paper, Scissors), if the players start by choosing (a, B), the play will cycle ...
In game theory, a strictly determined game is a two-player zero-sum game that has at least one Nash equilibrium with both players using pure strategies.The value of a strictly determined game is equal to the value of the equilibrium outcome.