What are the types of games in game theory?

Game theory is the study of strategic decision-making in situations where two or more individuals or groups are involved. There are several types of games in game theory, including but not limited to: cooperative and non-cooperative games, simultaneous and sequential games, zero-sum games and non-zero-sum games, and static and dynamic games. In cooperative games, individuals work together to achieve a common goal, while non-cooperative games involve individuals competing against each other. Simultaneous games involve players making decisions at the same time without knowledge of the other's choice, and sequential games involve players making decisions in a specific order with knowledge of previous choices. Zero-sum games are those where one player's gain is another player's loss, while non-zero-sum games can have mutually beneficial outcomes. Finally, static games involve players making decisions only once, while dynamic games involve players making decisions repeatedly over time.

This mind map was published on 21 April 2023 and has been viewed 49 times.