Strategic move

A strategic move in game theory is an action taken by a player outside the defined actions of the game in order to gain a strategic advantage and increase one's payoff. Strategic moves can either be unconditional moves or response rules. The key characteristics of a strategic move are that it involves a commitment from the player, meaning the player can only restrict her own choices and that the commitment has to be credible, meaning that once employed it must be in the interest of the player to follow through with the move. Credible moves should also be observable to the other players.^[1]^[2]

Strategic moves are not warnings or assurances. Warnings and assurances are merely statements of a player's interest, rather than an actual commitment from the player.

The term was coined by Thomas Schelling in his 1960 book, The Strategy of Conflict, and has gained wide currency in political science and industrial organization.^[3]

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References

^ Jahan, Sarwat; Mahmud, Ahmed Saber (2015-12-01). "Back to Basics: Strategic Thinking - Game theory analyzes behavior when decisions must take into account the potential actions of opponents". Finance & Development. 52 (4).
^ Gintis, Herbert; Gintis, Professor Emeritus of Economics University of Massachusetts and Adjunct Professor Department of Politics Herbert (2000). Game Theory Evolving: A Problem-centered Introduction to Modeling Strategic Behavior. Princeton University Press. ISBN 978-0-691-00943-8.
^ Schelling, Thomas C. (2015-11-06). The Strategy Of Conflict. Pickle Partners Publishing. ISBN 978-1-78625-216-6.

Thomas Schelling: The Strategy of Conflict, Harvard University press (1960). ISBN 0-674-84031-3
Avinash Dixit & Barry Nalebuff: Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life, W.W. Norton (1991) ISBN 0-393-31035-3

v t e Topics in game theory
Definitions	Congestion game Cooperative game Determinacy Escalation of commitment Extensive-form game First-player and second-player win Game complexity Graphical game Hierarchy of beliefs Information set Normal-form game Preference Sequential game Simultaneous game Simultaneous action selection Solved game Succinct game
Equilibrium concepts	Bayesian Nash equilibrium Berge equilibrium Core Correlated equilibrium Epsilon-equilibrium Evolutionarily stable strategy Gibbs equilibrium Mertens-stable equilibrium Markov perfect equilibrium Nash equilibrium Pareto efficiency Perfect Bayesian equilibrium Proper equilibrium Quantal response equilibrium Quasi-perfect equilibrium Risk dominance Satisfaction equilibrium Self-confirming equilibrium Sequential equilibrium Shapley value Strong Nash equilibrium Subgame perfection Trembling hand
Strategies	Backward induction Bid shading Collusion Forward induction Grim trigger Markov strategy Dominant strategies Pure strategy Mixed strategy Strategy-stealing argument Tit for tat
Classes of games	Bargaining problem Cheap talk Global game Intransitive game Mean-field game Mechanism design n-player game Perfect information Large Poisson game Potential game Repeated game Screening game Signaling game Stackelberg competition Strictly determined game Stochastic game Symmetric game Zero-sum game
Games	Go Chess Infinite chess Checkers Tic-tac-toe Prisoner's dilemma Gift-exchange game Optional prisoner's dilemma Traveler's dilemma Coordination game Chicken Centipede game Lewis signaling game Volunteer's dilemma Dollar auction Battle of the sexes Stag hunt Matching pennies Ultimatum game Rock paper scissors Pirate game Dictator game Public goods game Blotto game War of attrition El Farol Bar problem Fair division Fair cake-cutting Cournot game Deadlock Diner's dilemma Guess 2/3 of the average Kuhn poker Nash bargaining game Induction puzzles Trust game Princess and monster game Rendezvous problem
Theorems	Arrow's impossibility theorem Aumann's agreement theorem Folk theorem Minimax theorem Nash's theorem Negamax theorem Purification theorem Revelation principle Sprague–Grundy theorem Zermelo's theorem
Key figures	Albert W. Tucker Amos Tversky Antoine Augustin Cournot Ariel Rubinstein Claude Shannon Daniel Kahneman David K. Levine David M. Kreps Donald B. Gillies Drew Fudenberg Eric Maskin Harold W. Kuhn Herbert Simon Hervé Moulin John Conway Jean Tirole Jean-François Mertens Jennifer Tour Chayes John Harsanyi John Maynard Smith John Nash John von Neumann Kenneth Arrow Kenneth Binmore Leonid Hurwicz Lloyd Shapley Melvin Dresher Merrill M. Flood Olga Bondareva Oskar Morgenstern Paul Milgrom Peyton Young Reinhard Selten Robert Axelrod Robert Aumann Robert B. Wilson Roger Myerson Samuel Bowles Suzanne Scotchmer Thomas Schelling William Vickrey
Miscellaneous	All-pay auction Alpha–beta pruning Bertrand paradox Bounded rationality Combinatorial game theory Confrontation analysis Coopetition Evolutionary game theory First-move advantage in chess Game Description Language Game mechanics Glossary of game theory List of game theorists List of games in game theory No-win situation Solving chess Topological game Tragedy of the commons Tyranny of small decisions

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This page was last edited on 30 January 2023, at 15:37

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