Topics
Zero-Sum Game (Oligopoly)
An economic transaction in which whatever is gained by one party must be lost by the other. In a zero sum game, the gain for one player is exactly offset by the loss of the other players. If one business gains market share, it must be at the expense of the other firms in the market. With a zero-sum game, whatever is gained by one side is lost by the other.
A zero-sum game is a situation in which the total gains and losses of the participants add up to zero. In other words, in a zero-sum game, one participant's gain is offset by the losses of the other participants.
Zero-sum games are often associated with competition, and they can be found in a variety of contexts, including business, politics, and sports. In a zero-sum game, the success of one participant is often achieved at the expense of the other participants, and the outcome is often determined by the relative skill or strategy of the players.
Examples of zero-sum games include poker, chess, and other competitive activities in which one player's gain is directly tied to the losses of the other players. In contrast, non-zero-sum games involve situations in which the total gains and losses of the participants do not add up to zero, and the outcomes may be positive or negative for all participants.
See also
-
Game Theory (Revision Quizlet Activity)
Quizzes & Activities
-
Oligopoly (Revision Quizlet Activity)
Quizzes & Activities
-
How to take the perfect penalty
20th March 2017
-
Oligopoly and Game Theory
Teaching PowerPoints
-
Game Theory and Profits MCQ Revision Question
Practice Exam Questions
-
Oligopoly - Game Theory Explained and Applied
Study Notes
-
Teaching Behavioural Economics at A Level - Course Resource Pack
27th January 2016
-
Tim Harford on Thomas Schelling and War Games
8th February 2015
-
Game Theory - Putting Yourself in Another's Shoes
6th June 2015
-
Game Theory and the 2008 UEFA Champions League Final
28th August 2015