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Game Theory - Coggle Diagram
Game Theory
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Strategies
Pure Strategy:
In a pure strategy, a player alternates between several actions, consistently selects a particular move or action, and is deterministic, using the same tactic in particular circumstances.
Dominant Strategy:
Regardless of the tactics used by other players, a player's best strategy maximizes their reward and guarantees maximum success.
Mixed Strategy:
Unlike a pure strategy, which consistently selects the same action with varying results, a mixed strategy involves a player choosing multiple actions at random based on a predetermined probability.
Nash Equilibrium:
No player benefits from altering their strategy while others stick to it in a game of Nash equilibrium, signifying a stable state in which each player behaves optimally depending on the decisions made by others.
Types of Games
Symmetric vs. Asymmetric
Symmetric:
Whether an object is rotated or flipped, it stays the same on all sides.
Asymmetric:
An object is said to be asymmetrical if its shape, structure, or effect are not balanced, or if it is not equal on both sides.
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Game Theory
The study of game theory looks at how decisions are made in situations where the actions of several people have a big impact on one another's results.