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"A best response to a coplayer’s strategy is a strategy that yields the highest payoff against that particular strategy". [9] A matrix is used to present the payoff of both players in the game. For example, the best response of player one is the highest payoff for player one’s move, and vice versa.
A payoff function for a player is a mapping from the cross-product of players' strategy spaces to that player's set of payoffs (normally the set of real numbers, where the number represents a cardinal or ordinal utility—often cardinal in the normal-form representation) of a player, i.e. the payoff function of a player takes as its input a ...
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Games can be a single round or repetitive. The approach a player takes in making their moves constitutes their strategy. Rules govern the outcome for the moves taken by the players, and outcomes produce payoffs for the players; rules and resulting payoffs can be expressed as decision trees or in a payoff matrix. Classical theory requires the ...
There are four categories on a 2*2 matrix; horizontal is scale of payoff (or benefits), vertical is ease of implementation. By deciding where an idea falls on the pick chart four proposed project actions are provided; Possible, Implement, Challenge and Kill (thus the name PICK). Low Payoff, easy to do - Possible High Payoff, easy to do - Implement
In each cell, the first number represents the man's payoff and the second number the woman's. This standard representation does not account for the additional harm that might come from not only going to different locations, but going to the wrong one as well (e.g. the man goes to the ballet while the woman goes to the prize fight, satisfying ...
The payoffs are provided in the interior. The first number is the payoff received by the row player (Player 1 in our example); the second is the payoff for the column player (Player 2 in our example). Suppose that Player 1 plays Up and that Player 2 plays Left. Then Player 1 gets a payoff of 4, and Player 2 gets 3.
In game theory, a bimatrix game is a simultaneous game for two players in which each player has a finite number of possible actions. The name comes from the fact that the normal form of such a game can be described by two matrices - matrix describing the payoffs of player 1 and matrix describing the payoffs of player 2.