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Zero-sum game

Index Zero-sum game

In game theory and economic theory, a zero-sum game is a mathematical representation of a situation in which each participant's gain or loss of utility is exactly balanced by the losses or gains of the utility of the other participants. [1]

39 relations: Émile Borel, Bill Simmons, Bimatrix game, Comparative advantage, Dennis Wrong, Dutch disease, Economics, Elsevier, ESPN, Expected value, Fair cake-cutting, Gains from trade, Game, Game theory, John von Neumann, Linear programming, Lump of labour fallacy, Marginal utility, Mathematical model, Michael Wilbon, Minimax, Minimax theorem, Nash equilibrium, Nonzero: The Logic of Human Destiny, Normal-form game, Oskar Morgenstern, Pareto efficiency, Princeton University Press, Probability, Rational choice theory, Robert Wright (journalist), Social psychology, Social trap, Solution concept, Strategy (game theory), Tony Kornheiser, Utility, Win-win game, Zero-sum thinking.

Émile Borel

Félix Édouard Justin Émile Borel (7 January 1871 – 3 February 1956) was a French mathematician and politician.

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Bill Simmons

William John Simmons III (born September 25, 1969), is an American sports columnist, analyst, author, and podcaster.

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Bimatrix game

In game theory, a bimatrix game is a simultaneous game for two players in which each player has a finite number of possible actions.

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Comparative advantage

The law or principle of comparative advantage holds that under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage.

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Dennis Wrong

Dennis Hume Wrong (born November 15, 1923) is a Canadian-born American sociologist, and emeritus professor of sociology in the Department of Sociology at New York University.

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Dutch disease

In economics, the Dutch disease is the apparent causal relationship between the increase in the economic development of a specific sector (for example natural resources) and a decline in other sectors (like the manufacturing sector or agriculture).

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Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Elsevier is an information and analytics company and one of the world's major providers of scientific, technical, and medical information.

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ESPN (originally an acronym for Entertainment and Sports Programming Network) is a U.S.-based global cable and satellite sports television channel owned by ESPN Inc., a joint venture owned by The Walt Disney Company (80%) and Hearst Communications (20%).

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Expected value

In probability theory, the expected value of a random variable, intuitively, is the long-run average value of repetitions of the experiment it represents.

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Fair cake-cutting

Fair cake-cutting is a kind of fair division problem.

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Gains from trade

In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other.

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A game is a structured form of play, usually undertaken for enjoyment and sometimes used as an educational tool.

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Game theory

Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers".

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John von Neumann

John von Neumann (Neumann János Lajos,; December 28, 1903 – February 8, 1957) was a Hungarian-American mathematician, physicist, computer scientist, and polymath.

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Linear programming

Linear programming (LP, also called linear optimization) is a method to achieve the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships.

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Lump of labour fallacy

In economics, the lump of labour fallacy is the idea that there is a fixed amount of work—a lump of labour—to be done within an economy which can be distributed to create more or fewer jobs.

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Marginal utility

In economics, utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a good or service is the change in the utility from an increase in the consumption of that good or service.

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Mathematical model

A mathematical model is a description of a system using mathematical concepts and language.

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Michael Wilbon

Michael "Willie" Ray Wilbon (born November 19, 1958) is an ESPN commentator and former sportswriter and columnist for The Washington Post.

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Minimax (sometimes MinMax or MM) is a decision rule used in decision theory, game theory, statistics and philosophy for minimizing the possible loss for a worst case (maximum loss) scenario.

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Minimax theorem

A minimax theorem is a theorem providing conditions that guarantee that the max–min inequality is also an equality.

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Nash equilibrium

In game theory, the Nash equilibrium, named after American mathematician John Forbes Nash Jr., is a solution concept of a non-cooperative game involving two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.

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Nonzero: The Logic of Human Destiny

Nonzero: The Logic of Human Destiny is a 1999 book by Robert Wright, in which the author argues that biological evolution and cultural evolution are shaped and directed first and foremost by "non-zero-sumness" i.e., the prospect of creating new interactions that are not zero-sum.

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Normal-form game

In game theory, normal form is a description of a game.

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Oskar Morgenstern

Oskar Morgenstern (January 24, 1902 – July 26, 1977) was a German-born economist.

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Pareto efficiency

Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

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Princeton University Press

Princeton University Press is an independent publisher with close connections to Princeton University.

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Probability is the measure of the likelihood that an event will occur.

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Rational choice theory

Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior.

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Robert Wright (journalist)

Robert Wright (born January 15, 1957) is an American journalist who writes about science, history and religion, including The Evolution of God, Nonzero: The Logic of Human Destiny, The Moral Animal, Why Buddhism is True, and Three Scientists and Their Gods: Looking for Meaning in an Age of Information.

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Social psychology

Social psychology is the study of how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

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Social trap

In psychology, a social trap is a situation in which a group of people act to obtain short-term individual gains, which in the long run leads to a loss for the group as a whole.

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Solution concept

In game theory, a solution concept is a formal rule for predicting how a game will be played.

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Strategy (game theory)

In game theory, a player's strategy is any of the options he or she can choose in a setting where the outcome depends not only on his own actions but on the action of others.

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Tony Kornheiser

Anthony Irwin "Tony" Kornheiser (born July 13, 1948) is a former sportswriter and columnist for The Washington Post, as well as a radio and television talk show host and restaurateur.

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Within economics the concept of utility is used to model worth or value, but its usage has evolved significantly over time.

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Win-win game

A win–win game is a game which is designed in a way that all participants can profit from it in one way or the other.

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Zero-sum thinking

Zero-sum thinking, also known as zero-sum bias, is a cognitive bias that describes when an individual thinks that a situation is like a zero-sum game, where one person's gain would be another's loss.

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[1] https://en.wikipedia.org/wiki/Zero-sum_game

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