Payoff matrix
A payoff matrix is a construct in game theory which shows what outcome or "payoff" a player (or possibly two or more players) will receive, depending on the actions of that player, and any other player(s) or the state of the world.
2-player matrix for the Prisoner's dilemma:
Here, the payoff is one's sentence (time in jail) - lower is better.
| | Cooperate | Defect |
|---|
| Cooperate | 6 months, 6 months | 10 years, no time |
|---|
| Defect | no time, 10 years | 5 years, 5 years |
|---|
2-player matrix for the Game of Chicken:
Here, the higher the payoff, the better. "Cooperation" means swerving.
| | Cooperate | Defect |
|---|
| Cooperate | 0, 0 | -1, +1 |
|---|
| Defect | +1, -1 | -20, -20 |
|---|
External link
- http://www.whalens.org/Sofia/choice/matrix.htm
Referenced By
List of board games | List of game topics | List of games | List of mathematical topics (P-R)
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