Stochastic Games and Incomplete Information
Game Theory models the interaction of decision making between various economically active individuals which we call the players. If the influence of chance is present as well and we conceive a time dependent process on which the players decisions have an impact and from the behavior of which the players deduce payoffs, then we speak of a stochastic game. Or, in other words, a stochastic game is a multi personally controlled stochastic process.
KeywordsNash Equilibrium Normal Form Incomplete Information Mixed Strategy Pure Strategy
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