Game Theory

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Title: Game Theory

Essay Details:

Subject: Miscellaneous

Author: Penny G

Date: May 25, 2016

Level: University

Grade: B

Length: 47 / 13802

Essay text:

It first considers the moves that are the last in the game, and determines the best move for the player in each case. Then, taking these as given future actions, it proceeds backwards in time, again determining the best move for the respective player, until the beginning of the game is reached. Common knowledge A fact is common knowledge if all players know it, and know that they all know it, and so on. The structure of the game is often assumed to be common knowledge among the players. Dominating strategy A strategy dominates another strategy of a player if it always gives a better payoff to that player, regardless of what the other players are doing...

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