Value and Equilibrium
Abstract
This chapter explores different strands of the theory of two-player zero-sum games and equilibrium concepts for general multiplayer games. The conventional viewpoint is that equilibrium is an extension of the concept of value (and its associated optimal strategies) to non-zero-sum games, and the value is just a special case of an equilibrium payoff. However, it is argued that a number of important concepts apply only to one of these concepts.
Fields of Study & Subjects
History and Theory of Mathematics
Engineering and Material Science Research
Legal principles and applications
Publication details
- Journal / source
- Cambridge University Press eBooks
- Pages
- 55–68
- Publication date
- 31 January 2026
- Language
- EN
- Document type
- Book chapter