Asked by Justin Robbins on Jun 13, 2024
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In a zero-sum game, the gains by one player will be exactly offset by the losses of the other.
Zero-Sum Game
In game theory, a game in which the gains (+) and losses (−) add up to zero; one party’s gain equals the other party’s loss. A strategic interaction (game) between two or more parties (players) in which the winners’ gains exactly offset the losers’ losses so that the gains and losses sum to zero.
Gains
Increases in financial resources or advantages, often resulting from investments or economic activities.
- Distinguish between different types of games in game theory, including zero-sum, positive-sum, and repeated games.
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Learning Objectives
- Distinguish between different types of games in game theory, including zero-sum, positive-sum, and repeated games.
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