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What are Games of Strategy?
Not solely luck or skill
Actions of actors must be responsive to your actions (intentional)
6 Classification of Games
Are players interests in alignment, conflict, or a mix?
Do participants play simultaneously or sequentially?
Are the rules fixed or manipulable?
Is the game played once (one-shot game) or repeated? Same or different players?
Can you cooperate? Can that be enforced?
Do we have full or equal information?
What is Strategy?
In Simultaneous games - Action taken
In Sequential move games - Strategies have to be complete (know from the start)
What are Payoffs?
Represent what players care about
How do you find expected payoffs?
Look at the payoff for each ending/outcome and average it.
Ex. Heads = 1, Tails = 0, Expected Payoff = .5
What are Discrete Probabilities?
Outcomes/events/actions is between 0 and 1. Sun of all probabilities = 1