Principles or tables {strategy} determine decisions.
risk
Strategy {minimax theorem} can minimize risk. Minimax strategies are good, no matter what other player does. In finite, zero-sum, two-person game, one player gets average amount from the other if both use best strategy to minimize risk.
dominance
Strategy {dominant strategy} can always be better than or equal to all other strategies and is always better in at least one situation.
equilibrium
If one player maintains strategy, and the second changes strategy to best strategy, outcomes can stay constant {equilibrium point} {equilibrium strategy}. Games can have no equilibrium point. To try to maximize gain and minimize loss, use mixed strategies based on strategy-combination reward and punishment probabilities. Typical result is that no one gains or loses. If playing superior opponent, it is best to use mixed strategies.
Mathematical Sciences>Game Theory>Strategy
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Date Modified: 2022.0224