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In game theory, a focal point (or Schelling point) is a solution that people tend to choose by default in the absence of communication in order to avoid coordination failure. [1] The concept was introduced by the American economist Thomas Schelling in his book The Strategy of Conflict (1960). [ 2 ]
Game theory has come to play an increasingly important role in logic and in computer science. Several logical theories have a basis in game semantics. In addition, computer scientists have used games to model interactive computations. Also, game theory provides a theoretical basis to the field of multi-agent systems. [123]
Behavioral game theory seeks to examine how people's strategic decision-making behavior is shaped by social preferences, social utility and other psychological factors. [1] Behavioral game theory analyzes interactive strategic decisions and behavior using the methods of game theory, [2] experimental economics, and experimental psychology.
Game studies, also known as ludology (from ludus, "game", and -logia, "study", "research") or gaming theory, is the study of games, the act of playing them, and the players and cultures surrounding them.
There is no evidence which suggests that zero-sum thinking is an enduring feature of human psychology. Game-theoretic situations rarely apply to instances of individual behaviour. This is demonstrated by the ordinary response to the prisoner's dilemma. Zero-sum thinking is the result of both proximate and ultimate causes.
In the matching pennies game, player A loses a point to B if A and B play the same strategy and wins a point from B if they play different strategies. To compute the mixed-strategy Nash equilibrium, assign A the probability p {\displaystyle p} of playing H and ( 1 − p ) {\displaystyle (1-p)} of playing T, and assign B the probability q ...
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Zero-sum game is a mathematical representation in game theory and economic theory of a situation that involves two competing entities, where the result is an advantage for one side and an equivalent loss for the other. [1]