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Constant sum: A game is a constant sum game if the sum of the payoffs to every player are the same for every single set of strategies. In these games, one player gains if and only if another player loses. A constant sum game can be converted into a zero sum game by subtracting a fixed value from all payoffs, leaving their relative order unchanged.
In game theory, a Bayesian game is a strategic decision-making model which assumes players have incomplete information. Players may hold private information relevant to the game, meaning that the payoffs are not common knowledge. [1] Bayesian games model the outcome of player interactions using aspects of Bayesian probability.
In stochastic game theory, Bayesian regret is the expected difference ("regret") between the utility of a Bayesian strategy and that of the optimal strategy (the one with the highest expected payoff).
Mean field game theory is the study of strategic decision making in very large populations of small interacting agents. This class of problems was considered in the economics literature by Boyan Jovanovic and Robert W. Rosenthal, in the engineering literature by Peter E. Caines, and by mathematicians Pierre-Louis Lions and Jean-Michel Lasry.
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]
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 ]
A subfield of set theory that examines the conditions under which one or the other player of a game has a winning strategy, and the consequences of the existence of such strategies. Games studied in set theory are Gale–Stewart games – two-player games of perfect information in which the players make an infinite sequence of moves and there ...
In this case, the game is called a Bayesian game. In games that have a varying degree of complete information and game type, there are different methods available to the player to solve the game based on this information. In games with static, complete information, the approach to solve is to use Nash equilibrium to find viable strategies.