In game theory a listing of the rewards or punishments that each player will receive for each possible combination of strategies is called
A)the marginal strategy schedule
B)the payoff matrix
C)strategic planning
D)the input-output matrix
E)the game listing payoff

Question

Quizplus · Accepted Answer

The correct answer is B) the payoff matrix as it is a standard tool used in game theory to represent the possible outcomes of a given set of strategic choices made by each player in a game. It shows the rewards and punishments for each player for different combinations of strategies. Thus, it helps in identifying the best choice(s) for each player based on the outcomes predicted by the matrix.

In Game Theory a Listing of the Rewards or Punishments