A_Course_in_Game_Theory_-_Martin_J._Osborne 19

A_Course_in_Game_Theory_-_Martin_J._Osborne 19 - Page 3...

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Page 3 devoted to noncooperative games; it does not express our evaluation of the relative importance of the two branches. In particular, we do not share the view of some authors that noncooperative models are more "basic" than cooperative ones; in our opinion, neither group of models is more "basic" than the other. Strategic Games and Extensive Games In Part I we discuss the concept of a strategic game and in Parts II and III the concept of an extensive game. A strategic game is a model of a situation in which each player chooses his plan of action once and for all, and all players' decisions are made simultaneously (that is, when choosing a plan of action each player is not informed of the plan of action chosen by any other player). By contrast, the model of an extensive game specifies the possible orders of events; each player can consider his plan of action not only at the beginning of the game but also whenever he has to make a decision. Games with Perfect and Imperfect Information
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This note was uploaded on 09/10/2011 for the course DEFR 090234589 taught by Professor Vinh during the Spring '10 term at Aarhus Universitet, Aarhus.

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