Types of Games

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In this video we look at some of the basic features to games, we talk about the two basic forms of representation, that of the normal-form in a matrix model and that of the extensive form as a tree graph that unfolds over time. We talk about the important role of information, where games may be defined as having imperfect or perfect information and how agents may use information to their advantage. We talked about symmetrical and asymmetrical payoffs in games. We briefly look at zero-sum games and non-zero sum games where the payoffs can get larger given cooperation. Finally we talk about the distinction between a cooperative and non-cooperative game and some of the factors that create these different types of games which we will be discussing further throughout the course.