Competitive Games

danielspt
Mind Map by danielspt, updated more than 1 year ago
danielspt
Created by danielspt over 6 years ago
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Module 1

Resource summary

Competitive Games

Annotations:

  • A Competitive Game is a game whose player's outcomes depend on the other player's actions.
  1. Simultaneous Games

    Annotations:

    • Both competitors have to made their decisions simultaneously, that is, before any choice has been made in the game.
    1. Dominated Strategies

      Annotations:

      • A strategy is Dominated if there is another strategy for which there is a better payoff for the player.
      1. Dominant Strategies

        Annotations:

        • A strategy is Dominant if it gives the player the best possible payoff.
        1. Nash Equilibrium

          Annotations:

          • A Nash Equilibrium is a set of actions such that no player has incentive to change his strategy.
          • That implies that a Nash Equilibrium cannot contain Dominant Strategies at all.
          1. Prisoner's Dillema

            Annotations:

            • A Prisoner's Dillema
            1. Cooperation

              Annotations:

              • The Prisoner's Dillema is the main incentive for developing cooperation between players.
      2. Sequential Games

        Annotations:

        • A Sequential Game is one in which player's action are take in an already known order.
        1. Backward Induction

          Annotations:

          • Backward Induction is a method of analyzing games through which player's action's are based on the last possible action of the game.
          1. Finite Repetition Games

            Annotations:

            • Backward Induction can be applied to games that have a known endpoint.
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