Extensive-form game
From Wiki @ Karl Jones dot com
An extensive-form game is a specification of a game in game theory.
Description
Extensive-form games allow explicit representations of a number of important aspects, including:
- The sequencing of players' possible moves
- Their choices at every decision point
- The (possibly imperfect) information each player has about the other player's moves when he makes a decision
- His payoffs for all possible game outcomes.
Extensive-form games also allow representation of incomplete information in the form of chance events encoded as "moves by nature".
Sequential games
Extensive-form games are usually used for sequential games, since extensive-form games explicitly illustrate the sequential aspects of a game.
See also
- Axiom of determinacy
- Combinatorial game theory
- Game theory
- Incomplete information
- Move by nature
- Self-confirming equilibrium
- Sequential game
- Signalling
- Solution concept
External links
- Extensive-form game @ Wikipedia
