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Payoff


A payoff is a numerical value assigned to a player for an outcome of a game. Larger payoffs represent outcomes that the player prefers. A player's objective is generally to choose a strategy that maximizes the payoff or, when outcomes are uncertain, its expectation value.

The payoffs associated with combinations of players' strategies can be arranged in a payoff matrix.


See also

Game Theory, Payoff Matrix, Strategy

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References

Osborne, M. J. and Rubinstein, A. A Course in Game Theory. Cambridge, MA: MIT Press, 1994.

Cite this as:

Weisstein, Eric W. "Payoff." From MathWorld--A Wolfram Resource. https://mathworld.wolfram.com/Payoff.html

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