Game theory studies strategic interaction between individuals in situations called games. Classes of these games have been given names. This is a list of the most commonly studied games
Explanation of features
Games can have several features, a few of the most common are listed here.
Number of players: Each person who makes a choice in a game or who receives a payoff from the outcome of those choices is a player.
Strategies per player: In a game each player chooses from a set of possible actions, known as pure strategies. If the number is the same for all players, it is listed here.
Number of pure strategyNash equilibria: A Nash equilibrium is a set of strategies which represents mutual best responses to the other strategies. In other words, if every player is playing their part of a Nash equilibrium, no player has an incentive to unilaterally change their strategy. Considering only situations where players play a single strategy without randomizing (a pure strategy) a game can have any number of Nash equilibria.
Perfect information: A game has perfect information if it is a sequential game and every player knows the strategies chosen by the players who preceded them.
Constant sum: A game is a constant sum game if the sum of the payoffs to every player are the same for every single set of strategies. In these games, one player gains if and only if another player loses. A constant sum game can be converted into a zero sum game by subtracting a fixed value from all payoffs, leaving their relative order unchanged.
Move by nature: A game includes a random move by nature.
^For the cake cutting problem, there is a simple solution if the object to be divided is homogenous; one person cuts, the other chooses who gets which piece (continued for each player). With a non-homogenous object, such as a half chocolate/half vanilla cake or a patch of land with a single source of water, the solutions are far more complex.
^ abcdefghThere may be finite strategies depending on how goods are divisible
^ abSince the dictator game only involves one player actually choosing a strategy (the other does nothing), it cannot really be classified as sequential or perfect information.
^Potentially zero-sum, provided that the prize is split among all players who make an optimal guess. Otherwise non-zero sum.
^The real value of the auctioned item is random, as well as the perceived value.
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