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The rule goes as follows: if the first payoff number, in the payoff pair of the cell, is the maximum of the column of the cell and if the second number is the maximum of the row of the cell – then the cell represents a Nash equilibrium.
A Bayesian Nash Equilibrium (BNE) is a Nash equilibrium for a Bayesian game, which is derived from the ex-ante normal form game associated with the Bayesian framework. In a traditional (non-Bayesian) game, a strategy profile is a Nash equilibrium if every player's strategy is a best response to the other players' strategies. In this situation ...
In game theory, a solution concept is a formal rule for predicting how a game will be played. These predictions are called "solutions", and describe which strategies will be adopted by players and, therefore, the result of the game. The most commonly used solution concepts are equilibrium concepts, most famously Nash equilibrium.
Strict stationary equilibria: [6] A Nash equilibrium is called strict if each player strictly prefers the infinite sequence of outcomes attained in equilibrium, over any other sequence he can deviate to. A Nash equilibrium is called stationary if the outcome is the same in each time-period. An outcome is attainable in strict-stationary ...
It converges to Nash equilibrium when applied to a congestion game. [15] Operations research and online statistical decision-making In operations research and on-line statistical decision making problem field, the weighted majority algorithm and its more complicated versions have been found independently. [1] Computational geometry
In game theory, a subgame perfect equilibrium (SPE), or subgame perfect Nash equilibrium (SPNE), is a refinement of the Nash equilibrium concept, specifically designed for dynamic games where players make sequential decisions. A strategy profile is an SPE if it represents a Nash equilibrium in every possible subgame of the original game ...
In his famous paper, John Forbes Nash proved that there is an equilibrium for every finite game. One can divide Nash equilibria into two types. Pure strategy Nash equilibria are Nash equilibria where all players are playing pure strategies. Mixed strategy Nash equilibria are equilibria where at least one player is playing a mixed strategy ...
Number of pure strategy Nash equilibria: A Nash equilibrium is a set of strategies which represents mutual best responses to the other strategies. In other words, if every player is playing their part of a Nash equilibrium, no player has an incentive to unilaterally change their strategy.