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Game Theory (Types of Games ( Single-Move Games (This type of game faces…
Game Theory
Types of Games
Single-Move Games
This type of game faces players with the same choice multiple times but, each time, each player has knowledge about the previous decision of the other players. Many repeated games are variations of single move games with repetitions.
Repeated Games
As you might have guessed, sequential games model the environment as a series of turn which can produce new and different states. Chess, GO are examples of sequential games.
Sequential Games
This type of game is based on each player taking a single action without knowing the action of any other participant. Stock purchasing is a classic example of single move games.
fundamental roles
Participant Design
Game theory can be used to optimize the decision of a participant in order to obtain the maximum utility.
Mechanism Design
Inverse game theory focus on designing a game for a group of intelligent participant. Auctions are a classic example of mechanism design.
Inversed Game Theory
In many cases, the problem is not to optimize the participant’s strategy on a game but to design a game around the behavior of rational participants. this is the role of inversed game theory. Auctions are considered one of the main examples of inverse game theory.
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Nash Equilibrium
The Nash Equilibrium is a concept of game theory where the optimal outcome of a game is one where no player has an incentive to deviate from his chosen strategy after considering an opponent's choice.