A_Course_in_Game_Theory_-_Martin_J._Osborne 27

A_Course_in_Game_Theory_-_Martin_J._Osborne 27 - Page 12...

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Page 12 The high level of abstraction of this model allows it to be applied to a wide variety of situations. A player may be an individual human being or any other decision-making entity like a government, a board of directors, the leadership of a revolutionary movement, or even a flower or an animal. The model places no restrictions on the set of actions available to a player, which may, for example, contain just a few elements or be a huge set containing complicated plans that cover a variety of contingencies. However, the range of application of the model is limited by the requirement that we associate with each player a preference relation. A player's preference relation may simply reflect the player's feelings about the possible outcomes or, in the case of an organism that does not act consciously, the chances of its reproductive success. The fact that the model is so abstract is a merit to the extent that it allows applications in a wide range of situations,
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