Difference between revisions of "Multistage Games"
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==Introduction== | ==Introduction== | ||
| − | [[Normal form|Normal-form games]] models a game where players choose their moves simultaneously without observing other players moves. [[Extensive form|Extensive-form games]] adds a possibility playing sequentially - allowing players to learn about the choices of previous players, so the player can condition his moves based on previous players decisions. [[Extensive form|Extensive-form games]] have their payoff expressed after the end of the game (one "grand game"). | + | [[Normal form|Normal-form games]] models a game where players choose their moves simultaneously without observing other players moves. [[Extensive form|Extensive-form games]] adds a possibility playing sequentially - allowing players to learn about the choices of previous players, so the player can condition his moves based on previous players decisions. [[Extensive form|Extensive-form games]] have their payoff expressed after the end of the game (one "grand game"). In reality, dynamic play over time may be more complex than one game that unfolds over time. Instead, players can play one game that is followed by another, or maybe even several other games. Should we treat each game independently, or should we expect players to consider the sequence of different games as one "grand game"? |
| − | In reality, dynamic play over time may be more complex than one game that unfolds over time. Instead, players can play one game that is followed by another, or maybe even several other games. Should we treat each game independently, or should we expect players to consider the sequence of different games as one "grand game"? | ||
==Definition== | ==Definition== | ||
Revision as of 17:29, 2 February 2014
Contents
Introduction
Normal-form games models a game where players choose their moves simultaneously without observing other players moves. Extensive-form games adds a possibility playing sequentially - allowing players to learn about the choices of previous players, so the player can condition his moves based on previous players decisions. Extensive-form games have their payoff expressed after the end of the game (one "grand game"). In reality, dynamic play over time may be more complex than one game that unfolds over time. Instead, players can play one game that is followed by another, or maybe even several other games. Should we treat each game independently, or should we expect players to consider the sequence of different games as one "grand game"?
Definition
Information Sets
Information sets model the information players have when they are choosing their actions. They can be viewed as a generalization of the idea of a history.
Real Applications
Solved Example
(more examples are better; one simple, others more advanced)
Relevant facts
(how the phenomenon is used, etc.)
Interesting things, curiosities
Exercises
that students could use to practice the problem and that could be an inspiration for test questions
