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Benjamin "Ben" Polak (born 22 December 1961) is a British professor of economics and management and former Provost at Yale University. From 1999 to 2001 Polak was the Henry Kohn Associate Professor of Economics [4] [5] and is now the inaugural William C. Brainard Professor of Economics. [6] In January 2013, he became the Provost of Yale ...
This equivalence, notably formalized in Kuhn's theorem, simplifies the analysis of such games. [4] It is a core component of how game theorists analyze extensive-form games. The formal definition of perfect recall involves the concept of information sets in extensive-form games. It ensures that if a player reaches a certain information set, the ...
Separately, game theory has played a role in online algorithms; in particular, the k-server problem, which has in the past been referred to as games with moving costs and request-answer games. [125] Yao's principle is a game-theoretic technique for proving lower bounds on the computational complexity of randomized algorithms , especially online ...
In applied game theory, the definition of the strategy sets is an important part of the art of making a game simultaneously solvable and meaningful. The game theorist can use knowledge of the overall problem, that is the friction between two or more players, to limit the strategy spaces, and ease the solution.
Findings from behavioral game theory will tend to have higher external validity and can be better applied to real world decision-making behavior. [14] Behavioral game theory is a primarily positive theory rather than a normative theory. [14] A positive theory seeks to describe phenomena rather than prescribe a correct action.
A classic example of a dynamic game with types is a war game where the player is unsure whether their opponent is a risk-taking "hawk" type or a pacifistic "dove" type. Perfect Bayesian Equilibria are a refinement of Bayesian Nash equilibrium (BNE), which is a solution concept with Bayesian probability for non-turn-based games.
Algorithmic game theory (AGT) is an area in the intersection of game theory and computer science, with the objective of understanding and design of algorithms in strategic environments. Typically, in Algorithmic Game Theory problems, the input to a given algorithm is distributed among many players who have a personal interest in the output.
For finitely repeated games, if a stage game has only one unique Nash equilibrium, the subgame perfect equilibrium is to play without considering past actions, treating the current subgame as a one-shot game. An example of this is a finitely repeated Prisoner's dilemma game. The Prisoner's dilemma gets its name from a situation that contains ...