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Analog of Pareto efficiency for situations with incomplete information
Bayesian efficiency is an analog of Pareto efficiency for situations in which there is incomplete information. Under Pareto efficiency, an allocation of
Bayesian_efficiency
Weakly optimal allocation of resources
gives an expected utility of 1⁄2 to each voter. Bayesian efficiency is an adaptation of Pareto efficiency to settings in which players have incomplete information
Pareto_efficiency
Solution concept in game theory
In game theory, a Perfect Bayesian Equilibrium (PBE) is a solution with Bayesian probability to a turn-based game with incomplete information. More specifically
Perfect_Bayesian_equilibrium
Mathematical game
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Guess_2/3_of_the_average
Game theory concept
In game theory, a Bayesian game is a strategic decision-making model which assumes players have incomplete information. Players may hold private information
Bayesian_game
Concept in game theory
It is the only solution that satisfies four fundamental properties: efficiency, symmetry, additivity, and the dummy player (or null player) property
Shapley_value
Type of stable matching problem
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Stable_roommates_problem
Mathematical decision rule
utility function. An alternative way of formulating an estimator within Bayesian statistics is maximum a posteriori estimation. Suppose an unknown parameter
Bayes_estimator
Method of statistical inference
Bayesian inference (/ˈbeɪziən/ BAY-zee-ən or /ˈbeɪʒən/ BAY-zhən) is a method of statistical inference in which Bayes' theorem is used to calculate a probability
Bayesian_inference
Standard example in game theory
[citation needed] Deriving the optimal strategy is generally done in two ways: Bayesian Nash equilibrium: If the statistical distribution of opposing strategies
Prisoner's_dilemma
Mathematical models of strategic interactions
non-cooperative games”. Harsanyi had applied Bayesian inference to game theory in formulating Bayesian games, whereas Selten had introduced the solution
Game_theory
Concept in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Focal_point_(game_theory)
Israeli-American psychologist and economist (1934–2024)
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Daniel_Kahneman
Search algorithm
make them more time-efficient, but typically at a heavy cost in space-efficiency. Minimax Expectiminimax Negamax Pruning (algorithm) Branch and bound Combinatorial
Alpha–beta_pruning
Hand game for two or more players
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Chopsticks_(hand_game)
Israeli psychologist (1937–1996)
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Amos_Tversky
Paper-and-pencil game for two players
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Tic-tac-toe
Finding an optimal algorithm for playing chess
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Solving_chess
Logical paradox in decision-making theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Paradox_of_tolerance
Model of conflict for two players in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Chicken_(game)
Overuse of a shared resource
schemes are often invented by the users for maintaining them at optimum efficiency. Another prominent example of this is the deliberative process of granting
Tragedy_of_the_commons
Level of information in economics and game theory
games), these solutions turn towards Bayesian Nash Equilibria since games with incomplete information become Bayesian games. In a game of complete information
Complete_information
Concept in game theory
straightforward. A weaker degree is Bayesian-Nash incentive-compatibility (BNIC). This means there is a Bayesian Nash equilibrium in which all participants
Incentive_compatibility
Making of satisfactory, not optimal, decisions
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Bounded_rationality
Decision rule used for minimizing the possible loss for a worst-case scenario
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Minimax
Solution concept of a non-cooperative game
removed, which means that adding another possible route can decrease the efficiency of the system, a phenomenon known as Braess's paradox. This can be illustrated
Nash_equilibrium
redirect targets Bayesian cognitive science Bayesian econometrics – Branch of econometrics Bayesian efficiency – Analog of Pareto efficiency for situations
List of things named after Thomas Bayes
List_of_things_named_after_Thomas_Bayes
Human behavior pattern in which the participant takes on increasing risk
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Escalation_of_commitment
Condition in economics and game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Perfect_information
Situation where total gains match total losses
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Zero-sum_game
Hand game for two players or more
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Rock_paper_scissors
English saying meaning "equivalent retaliation"
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Tit_for_tat
Situation where all parties are worse off
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
No-win_situation
Proof all ranked voting rules have spoilers
information than simply what I have asked for. Harsanyi, John C. (1979-09-01). "Bayesian decision theory, rule utilitarianism, and Arrow's impossibility theorem"
Arrow's_impossibility_theorem
Game whose outcome can be correctly predicted
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Solved_game
Resource distribution game
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Blotto_game
Quality of a strategy in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Strategic_dominance
Field of economics and game theory
proposed mechanism constitutes a Bayesian game (a game of private information), and if it is well-behaved the game has a Bayesian Nash equilibrium. At equilibrium
Mechanism_design
Game illustrating paradox in rational choice theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Dollar_auction
Solution concept in Game Theory
static games of incomplete information. It is a generalization of the usual Bayesian Nash equilibrium, allowing for players to underestimate the connection
Cursed_equilibrium
Paradox of combining strategies
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Parrondo's_paradox
Interpretation of probability
Bayesian probability (/ˈbeɪziən/ BAY-zee-ən or /ˈbeɪʒən/ BAY-zhən) is an interpretation of the concept of probability, in which, instead of frequency or
Bayesian_probability
Decrease in severity of conflicts
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
De-escalation
Two-player coordination game in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Battle of the sexes (game theory)
Battle_of_the_sexes_(game_theory)
Concept in conflict studies
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Conflict_escalation
Political model of international conflict resolution
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Two-level_game_theory
Game theory case weighing own/others' sacrifice
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Volunteer's_dilemma
Complete plan on how a game player will behave in every possible game situation
every possible rule for which offers to accept and which to reject. In a Bayesian game, or games in which players have incomplete information about one another
Strategy_(game_theory)
Preference of known risks to unknown risks
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Ambiguity_aversion
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
List_of_games_in_game_theory
Formal rule for predicting how a game will be played
perfection cannot be used to eliminate any Nash equilibria. A perfect Bayesian equilibrium (PBE) is a specification of players' strategies and beliefs
Solution_concept
Model of humans as rational, self-interested agents
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Homo_economicus
Conflict between safety and cooperation
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Stag_hunt
Game in economic experiments
S2CID 220642229. Fudenberg, Drew; Tirole, Jean (1991-04-01). "Perfect Bayesian equilibrium and sequential equilibrium". Journal of Economic Theory. 53
Ultimatum_game
Diplomatic policy of concessions
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Appeasement
Principle in economics and game theory
player. A direct-mechanism Mech is said to be Bayesian-Nash-Incentive-compatible (BNIC) if there is a Bayesian Nash equilibrium of Game(Mech) in which all
Revelation_principle
Cooperation between firms to limit competition
independence of suppliers forces prices to their minimum, increasing efficiency and decreasing the price-determining ability of each firm. However, if
Collusion
Transactional view of violent conflict in international relations theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Bargaining_model_of_war
English mathematician and game theorist (born 1940)
Explains foundations of Bayesian decision theory and why Leonard Savage restricted it to small worlds. Argues that Bayesian approach inadequate in a
Kenneth_Binmore
Hungarian-American economist and philosopher (1920–2000)
highly innovative analysis of games of incomplete information, so-called Bayesian games. He also made important contributions to the use of game theory and
John_Harsanyi
Solution concept in Game Theory
perfect-information solution concept to bayesian games, and also a broader solution concept than the usual Bayesian Nash equilibrium thereof. Additionally
Bayes_correlated_equilibrium
In board games that cannot end in a draw, one of the two players has a winning strategy
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Zermelo's theorem (game theory)
Zermelo's_theorem_(game_theory)
Notion in combinatorial game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Game_complexity
Simple mathematical game
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Pirate_game
Hungarian and American mathematician and physicist (1903–1957)
S2CID 13503517. Stacey, B. C. (2016). "Von Neumann was not a Quantum Bayesian". Philosophical Transactions of the Royal Society A. 374 (2068) 20150235
John_von_Neumann
Branch of game theory about two-player sequential games with perfect information
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Combinatorial_game_theory
Incomplete-information coordination game
{\displaystyle n+1} emails The equilibrium concept to be used is that of a Bayesian Nash Equilibrium (BNE). Rubinstein showed that, no matter how small the
Electronic_mail_game
Poker game developed by Harold Kuhn
Vol. 1. Princeton University Press. pp. 97–103. James Peck. "Perfect Bayesian Equilibrium" (PDF). Ohio State University. Retrieved 2 September 2016.
Kuhn_poker
Game theory scenario
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Win–win_game
Pairing where no unchosen pair prefers each other over their choice
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Stable_matching_problem
Game theory concept
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Subgame_perfect_equilibrium
Problem in process of sharing surplus
bargaining problem that satisfies the axioms of scale invariance, symmetry, efficiency, and independence of irrelevant alternatives. According to Paul Walker
Cooperative_bargaining
Concept in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Best_response
Probabilistic graphical representation of causal relationships
A Bayesian network (also known as a Bayes network, Bayes net, belief network, or decision network) is a probabilistic graphical model that represents a
Bayesian_network
Tendency to overestimate in auctions
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Winner's_curse
Variation of minimax game tree search
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Negamax
Israeli-American mathematician (born 1930)
agreement theorem, in which he argues that under his given conditions, two Bayesian rationalists with common prior beliefs cannot agree to disagree. Aumann
Robert_Aumann
Trigger strategy
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Grim_trigger
Economic model
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Stackelberg_competition
Academic discipline
Shoto (2021-11-17). "Infinitely repeated quantum games and strategic efficiency". Quantum Information Processing. 20 (12): 387. arXiv:2005.05588. Bibcode:2021QuIP
Quantum_game_theory
Concept in mechanism design
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Strategyproofness
Application of game theory to evolving populations in biology
optimisation. The mathematical criteria of determining stable points are Pareto efficiency and Pareto dominance, a measure of solution optimality peaks in multivariable
Evolutionary_game_theory
Enhancement of Alpha–Beta game tree search
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Principal_variation_search
Experimental tool
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Dictator_game
Simple game studied in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Matching_pennies
Neologism for cooperative competition
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Coopetition
Military strategy during the Cold War with regard to the use of nuclear weapons
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Deterrence_theory
Game-theoretic concept
103–118. doi:10.1257/jep.10.3.103. JSTOR 2138522. Robson, A. J. (1990). "Efficiency in Evolutionary Games: Darwin, Nash, and the Secret Handshake" (PDF).
Cheap_talk
Economic model
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Cournot_competition
When a decision-maker's future preferences can contradict earlier preferences
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Dynamic_inconsistency
Representation of a game in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Normal-form_game
Economic phenomenon
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Tyranny_of_small_decisions
Facilitating a peaceful outcome to a dispute
conflict parties. When personal conflict leads to frustration and loss of efficiency, counseling may prove helpful. Although few organizations can afford to
Conflict_resolution
Zero-sum game where competitions between strategies contain a cycle
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Intransitive_game
Concept in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Fictitious_play
Study of strategic decision making
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Mean-field_game_theory
Subset of a game; used in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Subgame
Simultaneous game found in game theory
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Coordination_game
Israeli economist
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Ariel_Rubinstein
Dynamical system
Subgame perfect Trembling hand perfect Related Backward induction Bayesian efficiency Bayesian game Bertrand–Edgeworth model Core Edgeworth price cycle Incomplete
Replicator_equation
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BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
BAYESIAN EFFICIENCY
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