Solution Concept - Formal Definition

Formal Definition

Let be the class of all games and, for each game, let be the set of strategy profiles of . A solution concept is an element of the direct product i.e., a function such that for all

Read more about this topic:  Solution Concept

Famous quotes containing the words formal and/or definition:

    The bed is now as public as the dinner table and governed by the same rules of formal confrontation.
    Angela Carter (1940–1992)

    Scientific method is the way to truth, but it affords, even in
    principle, no unique definition of truth. Any so-called pragmatic
    definition of truth is doomed to failure equally.
    Willard Van Orman Quine (b. 1908)