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Game (in decision-making)
A situation where the outcome depends on the choices made by one or more players.
Zero Sum
A situation where one participant's gain is exactly balanced by another's loss.
Non-zero sum
A situation where one's gain does not necessarily result in another's loss.
Negative sum
Situations where the total gains and losses are less than zero, resulting in mutual harm.
Positive sum
Sum of winnings and losses greater than zero, leading to a win-win situation.
Constant sum
A situation where the total payoff of all players adds up to a constant figure for any outcome.
Cooperative Games
Games where players negotiate and agree on a strategy.
Non-Cooperative Games
Games where players independently choose strategies to maximize their own profits.
Normal Form
A representation of a game in a matrix format showing players' strategies and payoffs.
Extensive Form
A representation of games using a decision tree format to depict possible moves and outcomes.
Simultaneous Moves
Moves made by players at the same time without knowledge of each other's actions.
Sequential Moves
Moves made by players in a sequence where later players are aware of the earlier players' actions.
Symmetrical Games
Games where all players adopt the same strategies.
Asymmetrical Games
Games where players adopt different strategies, each benefiting uniquely.
Utility
A measure of preferences or satisfaction that affects player decisions in a game.
Nash Equilibrium
A situation where no player can benefit by changing their strategy while others keep theirs unchanged.
Prisoners' Dilemma
A non-zero sum game demonstrating cooperation versus self-interest among players.
Bargaining Game
A game that involves negotiation between parties to reach an agreement beneficial to all.
Strategy
A predefined plan of action chosen by a player to achieve the best outcome in a game.
Game Theory
The study of strategic interaction among rational decision-makers.