Category Archives: Introduction

A – Z of Game Theory

A – Auctions – There are four main types of auction First price sealed bid auctions – everyone puts a bid in a sealed envelope, the highest bid wins and pays the price they bid Second price sealed bid auctions … Continue reading

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Introduction to game theory: Perfect information

Perfect information in game theory is when a player who is about to make his move in a game can see all the moves that have been made before. Chess is an example of a game with perfect information as … Continue reading

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Introduction to game theory: Zero sum games

A zero sum game is one where whatever one person gains another person loses. It is called a zero-sum game because each gain by one player, say +$100, is offset by the loss of another, -$100. The two always add … Continue reading

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