Section: What is game theory? Up Main page Section: OK, I have a beautiful game now, so what? 

Many situations, many types of games...

The interactions and their institutional and informational contexts may be very diverse necessitating, quite commonly, different types of games for analyzing them.
We distinguish different types of games following two important characteristics of these interactions:
When game is sequential, some players may not have perfect information: when it is their turn to play, they don’t know what some other players have chosen before them hence, they don’t know the exact situation (in the game) in which they are making their decision.
Decisions are more difficult to make in this type of games with imperfect information.
Nevertheless, simultaneous games where all agents have complete information are the simplest games to analyze are (even if the information cannot be perfect in such games)
On the other hand, In some games, some players may not completely know
Hence, they don’t completely know which game they are playing, with whom exactly. In this case, it is much more difficult for them to anticipate the behavior of other players, and to determine the strategy that the player must adopt in these games with incomplete information.
We will come back to these important issues.
In simultaneous games, we need to determine
The simplest way of representing this information is tabular
We call this representation the normal or strategic form of the game

A small contemporary example: The Lockout game

Definition of the game:
P
I
The outcomes in the game
P
I
Constructing the payoff matrix

 Section: What is game theory? Up Main page Section: OK, I have a beautiful game now, so what? 
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(c) Murat Yildizoglu, 2021-