CFDP 1866

What Is a Solution to a Matrix Game

Author(s): 

Publication Date: July 2012

Pages: 74

Abstract: 

These notes are provided to describe many of the problems encountered concerning both structure and behavior in specifying what is meant by the solution to a game of strategy in matrix or strategic form. In the short term in particular, it is often reasonable for the individual to accept as given, both the context in which decisions are being made and the formal structure of the rules of the game. A solution is usually considered as a complete set of equations of motion that when applied to the game at hand selects a final outcome. There are many different theories and conjectures about how games of strategy are, or should be played. Several of them are noted below. They are especially relevant to the experimental gaming facility noted in the companion paper.

Keywords: 

Matrix games, Solution concepts, Experimental gaming

JEL Classification Codes:  C7, C9