In game theory, a Markov strategy[1] is one that depends only on state variables that summarize the history of the game in one way or another.[2] For instance, a state variable can be the current play in a repeated game, or it can be any interpretation of a recent sequence of play.
A profile of Markov strategies is a Markov perfect equilibrium if it is a Nash equilibrium in every state of the game. The Markov strategy was invented by Andrey Markov.[3]
References
edit- ^ "First Links in the Markov Chain". American Scientist. 2017-02-06. Retrieved 2017-02-06.
- ^ Fudenberg, Drew (1995). Game Theory. Cambridge, MA: The MIT Press. pp. 501–40. ISBN 0-262-06141-4.
- ^ Sack, Harald (2022-06-14). "Andrey Markov and the Markov Chains". SciHi Blog. Retrieved 2017-11-23.
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