Simultaneous Move Games I - UNC-Wilmington Department of...

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UNC-Wilmington ECN 321 Department of Economics and Finance Dr. Chris Dumas Discrete Action, One-Shot, Simultaneous Move Games 1 Payoff Table/Matrix: A table/matrix with the strategies of two or more players labeling the rows and columns of the table and the payoffs to all players listed in the cells. Each cell shows the payoffs to all players if the players choose the strategies in the rows and columns corresponding to the cell. "Normal" Form Game: A game represented by a payoff table/matrix. Games are typically expressed in normal form when players choose strategies simultaneously (rather than sequentially). Example: "Normal Form Game" between Player A and Player B, each with two strategy options: Strategy 1 and Strategy 2. Player B Strategy 1 Strategy 2 Player A Strategy 1 Payoff A, Payoff B Payoff A, Payoff B Strategy 2 Payoff A, Payoff B Payoff A, Payoff B Cooperative Solution: The combination of players' strategies and payoffs that the players would choose in a cooperative game (i.e., in a game where they could write enforceable contracts with one another).
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This note was uploaded on 10/22/2009 for the course ECN 321 taught by Professor Dumas during the Fall '08 term at University of North Carolina Wilmington.

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Simultaneous Move Games I - UNC-Wilmington Department of...

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