assumptions of game theory
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Assumptions in Game Theory
It is assumed that players within the game are rational and will strive to maximize their payoffs in the game. When examining games that are already set up, it is assumed on your behalf that the payouts listed include the sum of all payoffs associated with that outcome.
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Assumptions in Game Theory
As with any concept in economics, there is the assumption of rationality. There is also an assumption of maximization. It is assumed that players within the game are rational and will strive to maximize their payoffs in the game.
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