What does payoff function mean?
Definitions for payoff function
pay·off func·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word payoff function.
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Wiktionary
payoff functionnoun
A mathematical function describing the award given to a single player at the outcome of a game.
Wikipedia
payoff function
In game theory, normal form is a description of a game. Unlike extensive form, normal-form representations are not graphical per se, but rather represent the game by way of a matrix. While this approach can be of greater use in identifying strictly dominated strategies and Nash equilibria, some information is lost as compared to extensive-form representations. The normal-form representation of a game includes all perceptible and conceivable strategies, and their corresponding payoffs, for each player. In static games of complete, perfect information, a normal-form representation of a game is a specification of players' strategy spaces and payoff functions. A strategy space for a player is the set of all strategies available to that player, whereas a strategy is a complete plan of action for every stage of the game, regardless of whether that stage actually arises in play. A payoff function for a player is a mapping from the cross-product of players' strategy spaces to that player's set of payoffs (normally the set of real numbers, where the number represents a cardinal or ordinal utility—often cardinal in the normal-form representation) of a player, i.e. the payoff function of a player takes as its input a strategy profile (that is a specification of strategies for every player) and yields a representation of payoff as its output.
Numerology
Chaldean Numerology
The numerical value of payoff function in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of payoff function in Pythagorean Numerology is: 9
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"payoff function." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/payoff+function>.
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