NationMaster - Encyclopedia: Grim trigger

Grim Trigger is a trigger strategy in game theory for a repeated game, such as an iterated prisoner's dilemma. Initially, a player using Grim Trigger will cooperate, but as soon as the opponent defects (thus satisfying the trigger condition), the player using Grim Trigger will defect for the remainder of the iterated game. Since a single defect by the opponent triggers defection forever, Grim Trigger is the most strictly unforgiving of strategies in an iterated game. Game theory is a branch of applied mathematics that studies strategic situations where players choose different actions in an attempt to maximize their returns. ... Will the two prisoners cooperate to minimise total loss of liberty or will one of them, trusting the other to cooperate, betray him so as to go free? Many points in this article may be difficult to understand without a background in the elementary concepts of game theory. ...

Note that Tit for Tat, the commonly accepted optimal iterated game strategy, is also a trigger strategy, except that unlike Grim Trigger, it only "remembers" one move previous when determining whether to cooperate or defect. Tit for Tat is a highly-effective strategy in game theory for the iterated prisoners dilemma. ...

Categories: Economics and finance stubs | Game theory Game theory is a branch of applied mathematics that studies strategic situations where players choose different actions in an attempt to maximize their returns. ... It has been suggested that this article or section be merged with payoff matrix. ... It has been suggested that Game tree be merged into this article or section. ... A cooperative game is a game where groups of players (coalitions) may enforce cooperative behaviour, hence the game is a competition between coalitions of players, rather than between individual players. ... In game theory, an information set is a set that, for a particular player, establishes all the possible moves that could have taken place in the game so far, given what that player has observed so far. ... A strategy in game theory is a sequence of activities and reactions, that fully determine an agents bahaviour in a game or a business situation. ... A mixed strategy is used in game theory economics to describe a strategy comprising possible moves and a probability distribution which corresponds to how frequently each move is chosen. ... Preference (or taste) is a concept, used in the social sciences, particularly economics. ... In game theory, dominance (also called strategic dominance) occurs when one strategy is better than another strategy for one player, no matter how that players opponents may play. ... In game theory, the Nash equilibrium (named after John Nash, who proposed it) is a kind of optimal collective strategy in a game involving two or more players, where no player has anything to gain by changing only his or her own strategy. ... Subgame perfect equilibrium is an economics term used in game theory to describe an equilibrium such that players strategies constitute a Nash equilibrium in every subgame of the original game. ... In game theory, a Bayesian game is one in which information about characteristics of the other players (i. ... In game theory, a Bayesian game is one in which information about characteristics of the other players (i. ... In game theory, an evolutionarily stable strategy (or ESS; also evolutionary stable strategy) is a strategy which if adopted by a population cannot be invaded by any competing alternative strategy. ... In game theory and economic modelling, a solution concept is a process via which equilibria of a game are identified. ... In game theory, a symmetric game is a game where the payoffs for playing a particular strategy depend only on the other strategies employed, not on who is playing them. ... Perfect information is a term used in economics and game theory to describe a state of complete knowledge about the actions of other players that is instantaneously updated as new information arises. ... In game theory, a sequential game is a game where one player chooses his action before the others chooses theirs. ... In game theory, a repeated game (or iterated game) is an extensive form game which consists in some number of repetitions of some base game (called a stage game). ... Signaling games are dynamic games with two players, the sender (S) and the receiver (R). ... Cheap Talk is a term used in Game Theory for pre-play communication which carries no cost. ... Zero-sum describes a situation in which a participants gain (or loss) is exactly balanced by the losses (or gains) of the other participant(s). ... Mechanism design is a sub-field of game theory. ... A win-win game is a type of game which is designed in a way that all participants can profit from it in one way or the other. ... Will the two prisoners cooperate to minimise total loss of liberty or will one of them, trusting the other to cooperate, betray him so as to go free? Many points in this article may be difficult to understand without a background in the elementary concepts of game theory. ... The game of chicken (also referred to as playing chicken) is a game in which two players engage in an activity that will result in serious harm unless one of them backs down. ... In game theory, the Stag Hunt is a game first discussed by Jean-Jacques Rousseau. ... The Ultimatum game is an experimental economics game in which two parties interact anonymously and only once, so reciprocation is not an issue. ... Matching Pennies is the name for a simple example game used in game theory. ... Minority Game is a game proposed by Yi-Cheng Zhang and Damien Challet from the University of Fribourg. ... This article or section contains information that has not been verified and thus might not be reliable. ... The dictator game is a very simple game in experimental economics, similar to the ultimatum game. ... Game theory studies strategic interaction between individuals in situations called games. ... Minimax is a method in decision theory for minimizing the expected maximum loss. ... In game theory, folk theorems are a class of theorems which imply that in repeated games, any outcome is feasible if under that outcome the players minimax conditions are satisfied. ... In game theory, the Bishop-Cannings theorem proves that all members of a mixed evolutionarily stable strategy have the same payoff, and that none of these can also be a pure evolutionarily stable strategy. ... Euclid, detail from The School of Athens by Raphael. ... Buyers bargain for good prices while sellers put forth their best front in Chichicastenango Market, Guatemala. ... Nobel Prize in Economics winner Daniel Kahneman, was an important figure in the development of behavioral finance and economics and continues to write extensively in the field. ... Evolutionary biology is a subfield of biology concerned with the origin and descent of species, as well as their change over time, i. ... Evolutionary game theory (EGT) is the application of game theory in evolutionary biology. ... Population genetics is the study of the distribution of and change in allele frequencies under the influence of the four evolutionary forces: natural selection, genetic drift, mutation, and migration. ... Behavioral ecology is the study of the ecological and evolutionary basis for animal behavior, and the roles of behavior in enabling an animal to adapt to its environment (both intrinsic and extrinsic). ... This is a list of notable economists, mathematicians, political scientists, and computer scientists whose work has added substantially to the field of game theory. ...