The basic setup of a "game" requires which components?
A) players, sequences, payoffs, moves, profits
B) players, information, strategies, outcomes, payoffs
C) players, preferences, sequences, payoffs
D) preferences, payoffs, strategies, returns

Question

Quizplus · Accepted Answer

The basic setup of a game in game theory includes players, the information available to them, the strategies they can employ, the outcomes of these strategies, and the payoffs or rewards associated with the outcomes.

The Basic Setup of a "Game" Requires Which Components