A table giving the payoffs from all the strategies open to a player and the rivals’ responses is called the payoff matrix. Payoff mentioned in the term payoff matrix is the outcome or consequence of strategies adopted by a firm and its rival.
Payoff matrix is also known as a profit matrix. The fact that payoff matrix forms the base of game theory makes understanding the payoff matrix very important.
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A few sample topics related to payoff matrix, that the tutor group can tutor you are listed below:
- Payoff Matrix
- Zero Sum Game
- Non-Zero Sum Game
- Dominant Strategy
- Prisoner’s Dilemma
- Nash Equilibrium
- Game theory
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