Applications of Signaling Games
Signaling games describe situations where one player has information the other player does not have. These situations of asymmetric information are very common in economics and behavioral biology.
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Famous quotes containing the word games:
“In 1600 the specialization of games and pastimes did not extend beyond infancy; after the age of three or four it decreased and disappeared. From then on the child played the same games as the adult, either with other children or with adults. . . . Conversely, adults used to play games which today only children play.”
—Philippe Ariés (20th century)