Game theory models are classified by the

Game theory models are typically classified by the following characteristics:

1. Number of Players: This refers to the number of individuals or groups involved in the game. It could be a two-player game or a multi-player game.

2. Sum of the Game: This refers to whether the game is zero-sum or non-zero-sum. In a zero-sum game, the gains of one player are exactly balanced by the losses of the other player(s). In a non-zero-sum game, the total amount of payoff to all players is not necessarily zero, meaning the gain of one player does not necessarily mean the loss of another.

3. Information Availability: This refers to whether the game is of perfect information or imperfect information. In a game of perfect information, each player has complete knowledge about the game and the actions of the other players. In a game of imperfect information, players do not have complete knowledge about the game or the actions of the other players.

4. Sequential or Simultaneous: This refers to the order in which players make their decisions. In a sequential game, players have some knowledge about earlier actions, while in a simultaneous game, players make decisions without the knowledge of the other players' actions.

5. Cooperative or Non-cooperative: This refers to whether players can form binding agreements. In a cooperative game, players can negotiate binding contracts that allow them to plan joint strategies. In a non-cooperative game, binding agreements are not possible.

6. Equilibrium Concept: This refers to the solution concept of the game. The most common equilibrium concept is the Nash equilibrium, where no player has an incentive to deviate from their chosen strategy after considering an opponent's choice.

These classifications help in understanding the dynamics of the game and predicting the possible outcomes.

Game theory models are typically classified by the following characteristics:

1. Number of Players: This refers to the number of entities making decisions in the game. It could be a single player, two players, or multiple players.

2. Sum of Games: This refers to whether the sum of gains of all players in the game adds up to a constant (zero-sum games) or not (non-zero-sum games).

3. Sequential or Simultaneous: This refers to whether players make their decisions one after the other (sequential) or at the same time (simultaneous).

4. Perfect or Imperfect Information: This refers to whether players have complete information about the game and the other players' actions (perfect information) or not (imperfect information).

5. Cooperative or Non-Cooperative: This refers to whether players can form binding agreements (cooperative) or not (non-cooperative).

6. Symmetric or Asymmetric: This refers to whether all players are identical in terms of strategy and pay-off functions (symmetric) or not (asymmetric).

7. Static or Dynamic: This refers to whether the game is played only once (static) or over several periods (dynamic).