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Simultaneous Move Games
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Flashcards
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Payoff Matrix
A table that describes the possible outcomes of a game for each combination of strategies chosen by the players.
Nash Equilibrium
A scenario where no player can benefit by changing strategies if the other players keep their strategies unchanged.
Mixed Strategy
A strategy where a player chooses between possible moves according to a probability distribution.
Strategic Form
Another name for the normal form representation of a game, focusing on strategies and payoffs instead of the timing of moves.
Zero-Sum Game
A type of game where one player's gain is exactly the other player's loss, making the sum of outcomes zero.
Dominant Strategy
A strategy that is the best for a player to follow, regardless of the strategies chosen by other players.
Pure Strategy
A strategy in which a player makes a specific choice or takes a specific action with certainty.
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