5637747
Description
Flashcards by Anil Gupta6401, updated more than 1 year ago
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Created by Anil Gupta6401
almost 8 years ago
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| Question | Answer |
| The utility of player i when his action is a_i and of the remaining players is a_-i if there are n players then a_i is a single action and a_-i is a set or rather n-1 tuple of his/her corresponding actions | |
| Best responce of a player -- Keeping actions of all other players fixed, the action with maximum payoff for a player is his best responce | Nash equilibrium - the inersetion of best responces of players in a game is the Nash equilibrium It is a self enforcing agreement At this point no player has any incentve to deviate unilatrerally to another responce |
| Pareto optimal Solution- if in the game table there exist no outcome in which each palyer has a payoff >= present payoff, then the solution is called pareto optimal. |
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