In game theory, a sequential game is a game where one player chooses his action before the other chooses hers. Importantly, the second player must have some information of the first's choice, otherwise the difference in time would have no strategic effect. Extensive form representations are usually used for sequential games, since they explicitly illustrate the sequential aspects of a game. Game theory is a branch of applied mathematics that uses models to study interactions with formalised incentive structures (games). It has applications in a variety of fields, including economics, international relations, evolutionary biology, political science, and military strategy. ... An extensive form game is a specification of a game in 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.
Game theorists may assume players always act rationally to maximize their wins (the Homo economicus model), but real humans often act either irrationally, or act rationally to maximize the wins of some larger group of people (altruism).
Game theory experienced a flurry of activity in the 1950s, during which time the concepts of the core, the extensive formgame, fictitious play, repeated games, and the Shapley value were developed.
Feeds |
Contact