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The zero-sum property (if one gains, another loses) means that any result of a zero-sum situation is Pareto optimal. Generally, any game where all strategies are Pareto optimal is called a conflict game. [7] [8] Zero-sum games are a specific example of constant sum games where the sum of each outcome is always zero. [9]
This article gives an example of a zero-sum game that has no value. It is due to Sion and Wolfe. [1] Zero-sum games with a finite number of pure strategies are known to have a minimax value (originally proved by John von Neumann) but this is not necessarily the case if the game has an infinite set of strategies. There follows a simple example ...
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
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.
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.
This is a list of notable theorems. Lists of theorems and similar statements include: List of algebras; List of algorithms; List of axioms; List of conjectures; List of data structures; List of derivatives and integrals in alternative calculi; List of equations; List of fundamental theorems; List of hypotheses; List of inequalities; Lists of ...
Life skills are often taught in the domain of parenting, either indirectly through the observation and experience of the child, or directly with the purpose of teaching a specific skill. Parenting itself can be considered as a set of life skills which can be taught or comes natural to a person. [13]
An action profile a = (a 1, . . . , a N) is a list of actions, one for each player; Type sets, t i: The set of types of players i. "Types" capture the private information a player can have. A type profile t = (t 1, . . . , t N) is a list of types, one for each player; Payoff functions, u: Assign a payoff to a player given their type and the ...