Where did the economic theory of "zero sum game" come from?

Where did the economic theory of "zero sum game" come from?
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answer:Game Theory has been around for centuries, but is used more in Neoclassical Economics than in Classical Economics. Since most schools teach Classical instead of Neoclassical, I am not surprised that you learned more about Adam Smith than about John von Neumann. BTW – Have you read Theory of Games and Economic Behavior ? It was first published in 1944 but is likely more accurate and relevant than most other economic texts.
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The “Zero Sum Game” as employed by the supporters of “game theory” assumes that: A. The loss of one party is the gain of the other party B. The loss of one party is the loss of the other party as well C. The gain of one party is the gain of the other party D. The gain or loss of one party has nothing to do with the gain or loss of the other party

Description : The Zero Sum Game as employed by the supporters of game theory assumes that: A. The loss of one party is the gain of the other party B. The loss of one party is the loss of the other party as ... party D. The gain or loss of one party has nothing to do with the gain or loss of the other party

Last Answer : ANSWER: A

The “Zero Sum Game” as employed by the supporters of “game theory” assumes that: A. The loss of one party is the gain of the other party B. The loss of one party is the loss of the other party as well C. The gain of one party is the gain of the other party D. The gain or loss of one party has nothing to do with the gain or loss of the other party

Description : The Zero Sum Game as employed by the supporters of game theory assumes that: A. The loss of one party is the gain of the other party B. The loss of one party is the loss of the other party as ... party D. The gain or loss of one party has nothing to do with the gain or loss of the other party

Last Answer : ANSWER: A

Book recommendation on Keynesian economic theory?

Description : Book recommendation on Keynesian economic theory?

Last Answer : answer:If you want a book that gives you a clear explanation of Keynes and other great economic thinkers of our times, checkout the book The Wordly Philosophers I've read this book and I think it ... what your looking for without having to have to have PHD in economics to understand. Good Luck! R

Good source for economic theory?

Description : Good source for economic theory?

Last Answer : have you read the books on the fair tax pretty good theory

An economic theory is a/an - (1) Axion (2) Proposition (3) Hypothesis (4) Tested hypothesis

Description : An economic theory is a/an - (1) Axion (2) Proposition (3) Hypothesis (4) Tested hypothesis

Last Answer : (2) Proposition Explanation: A theory is an established explanation that accounts for known facts or phenomenon. Specifically, economic theories ate statements or propositions about patterns of economic ... the complexities of economic behavior (Exploring Economics by Robert L. Sexton, p 9).

Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Description : Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Last Answer : (3) income of an economy grows on account of an initial investment Explanation: In economics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in ... of the U.S. money supply, and MO as a measure of the U.S. monetary base.

An economic theory is a/an (1) Axion (2) Proposition (3) Hypothesis (4) Tested hypothesis

Description : An economic theory is a/an (1) Axion (2) Proposition (3) Hypothesis (4) Tested hypothesis

Last Answer : Proposition

Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Description : Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Last Answer : income of an economy grows on account of an initial investment 

Zero sum games are the one in which there are two agents whose actions must alternate and in which the utility values at the end of the game are always the same. a) True b) False

Description : Zero sum games are the one in which there are two agents whose actions must alternate and in which the utility values at the end of the game are always the same. a) True b) False

Last Answer : b) False

. In a zero-sum game, a. What one player wins, the other loses b. The sum of each player’s winnings if the game is played many times must be zero c. The game is fair-each person has an equal chance of winning d. Long-run profits must be zero

Description : . In a zero-sum game, a. What one player wins, the other loses b. The sum of each player’s winnings if the game is played many times must be zero c. The game is fair-each person has an equal chance of winning d. Long-run profits must be zero

Last Answer : a. What one player wins, the other loses

Zero sum game has player… a. seven b. Two c.three player d. Multiplayer

Description : Zero sum game has player… a. seven b. Two c.three player d. Multiplayer

Last Answer : d. Multiplayer

In a ........................game the amounts won by all winners together is equal to the sum of the amounts lost by all losers together. a. Non-zero sum game b. Zero sum game c. Rectangular game d. None of these

Description : In a ........................game the amounts won by all winners together is equal to the sum of the amounts lost by all losers together. a. Non-zero sum game b. Zero sum game c. Rectangular game d. None of these

Last Answer : b. Zero sum game

Are there some practical conclusions from game theory analysis of bidding strategies in english auctions?

Description : Are there some practical conclusions from game theory analysis of bidding strategies in english auctions?

Last Answer : I don't know about specific tactics but I use Hammersnipe which is a sniping tool. It places my bid at the last possible moment to help prevent the price being jacked up.I don't know if you can ... are bidding on car auction sites. You still risk being outbid but I have a pretty good success rate.

What are some real life examples of game theory?

Description : What are some real life examples of game theory?

Last Answer : answer:Strategic voting. Would you switch parties in the primary to vote for the radical of the other party, thinking that person would be easier to beat in the general election? Negotiating over anything. ... the person would give you more, or if you are at their bottom line? On and on.

Game theory became popular when the book “Theory of Games and Economic Behaviour” was published in 1944 by .............................. a. Von Neumann b. Mc Closky c. Von-Neumann and Mc Closky d. Von-neumann and Morgenstern

Description : Game theory became popular when the book “Theory of Games and Economic Behaviour” was published in 1944 by .............................. a. Von Neumann b. Mc Closky c. Von-Neumann and Mc Closky d. Von-neumann and Morgenstern

Last Answer : d. Von-neumann and Morgenstern

The sum total of incomes received for the services of labour, land or capital in a country is called (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Description : The sum total of incomes received for the services of labour, land or capital in a country is called (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Last Answer : (3) Gross domestic income Explanation: The Gross Domestic Income (GDI) is the total in-come received by all sectors of an economy within a nation. It includes the sum of all wages, profits, ... services), the gross domestic income of a count should exactly equal its gross domestic product (GDP).

What is "narrow money"? (1) The sum of currency in circulation and the demand deposits in banks (2) The sum of MI money and the time deposits (3) The sum of currency in circulation with the public and the cash reserves held by banks (4) The market value of the stocks held by all the holders excluding the promoters

Description : What is "narrow money"? (1) The sum of currency in circulation and the demand deposits in banks (2) The sum of MI money and the time deposits (3) The sum of currency in circulation with the ... reserves held by banks (4) The market value of the stocks held by all the holders excluding the promoters

Last Answer : (1) The sum of currency in circulation and the demand deposits in banks Explanation: The four main monetary aggregates of measures of money supply which reflect the state of the monetary sector ... This category of money is considered to be the most readily available for transactions and commerce.

If the tax rate increases with the higher level of income, it shall be called - (1) Proportional tax (2) Progressive tax (3) Lump sum tax (4) Regressive tax

Description : If the tax rate increases with the higher level of income, it shall be called - (1) Proportional tax (2) Progressive tax (3) Lump sum tax (4) Regressive tax

Last Answer : (2) Progressive tax Explanation: A progressive tax is a tax by which the tax rate increases as the taxable base amount increases." Progressive" describes a distribution effect on income or expenditure, ... -to-pay, as they shift the incidence increasingly to those with a higher ability-to-pay.

Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

Description : Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

Last Answer : (4) sum of wages, interest, rent and normal profit. Explanation: The following elements are included in the cost of production: (1) Purchase of raw machinery, (2) Installation of plant and machinery ... also added, (k) The normal profit of the entrepreneur is also included In the cost of production.

The sum total of production of goods and services in the three sectors in a given year is called______. (a) Gross National Income (b) National Income (c) Net Domestic Product (d) Gross Domestic Product

Description : The sum total of production of goods and services in the three sectors in a given year is called______. (a) Gross National Income (b) National Income (c) Net Domestic Product (d) Gross Domestic Product

Last Answer : (d) Gross Domestic Product

What is the sum total of gross value added of all the firms in the country added with the net factor income from abroad? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the sum total of gross value added of all the firms in the country added with the net factor income from abroad? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : b) Gross National Product

What is the sum total of gross value added of all the firms in the country minus the depreciation? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the sum total of gross value added of all the firms in the country minus the depreciation? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : c) Net Domestic Product

What is the sum total of gross value added of all the firms in the country? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the sum total of gross value added of all the firms in the country? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : a) Gross Domestic Product

If arithmetic of 6 numbers is 17 then the sum of numbers is---- (a) 102 (b) 103 © 150 (d) 120.

Description : If arithmetic of 6 numbers is 17 then the sum of numbers is---- (a) 102 (b) 103 © 150 (d) 120.

Last Answer : (a) 102

What is “narrow money” ? (1) The sum of currency in circulation and the demand deposits in banks (2) The sum of MI money and the time deposits (3) The sum of currency in circulation with the public and the cash reserves held by banks (4) The market value of the stocks held by all the holders excluding the promoters

Description : What is narrow money ? (1) The sum of currency in circulation and the demand deposits in banks (2) The sum of MI money and the time deposits (3) The sum of currency in circulation with ... reserves held by banks (4) The market value of the stocks held by all the holders excluding the promoters

Last Answer : The sum of currency in circulation and the demand deposits in banks

If the tax rate increases with the higher level of income, it shall be called (1) Proportional tax (2) Progressive tax (3) Lump sum tax (4) Regressive tax

Description : If the tax rate increases with the higher level of income, it shall be called (1) Proportional tax (2) Progressive tax (3) Lump sum tax (4) Regressive tax

Last Answer : Progressive tax

The sum total of incomes received for the services of labour, land or capital in a country is called : (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Description : The sum total of incomes received for the services of labour, land or capital in a country is called : (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Last Answer :  Gross domestic income

Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

Description : Cost of production of the producer is given by: (1) sum of wages paid to labourers. (2) sum of wages and interest paid on capital. (3) sum of wages, interest, rent and supernormal profit. (4) sum of wages, interest, rent and normal profit.

Last Answer : sum of wages, interest, rent and normal profit.

Sinking fund is (A) The fund for rebuilding a structure when its economic life is over (B) Raised to meet maintenance costs (C) The total sum to be paid to the municipal authorities by the tenants (D) A part of the money kept in reserve for providing additional structures and structural modifications

Description : Sinking fund is (A) The fund for rebuilding a structure when its economic life is over (B) Raised to meet maintenance costs (C) The total sum to be paid to the municipal ... tenants (D) A part of the money kept in reserve for providing additional structures and structural modifications

Last Answer : (A) The fund for rebuilding a structure when its economic life is over

Economic cost is the sum of________ a). Variable and fixed costs b). Variable, fixed and opportunity costs c). Fixed and opportunity costs d). Variable, fixed and marginal costs

Description : Economic cost is the sum of________ a). Variable and fixed costs b). Variable, fixed and opportunity costs c). Fixed and opportunity costs d). Variable, fixed and marginal costs

Last Answer : b). Variable, fixed and opportunity costs

If you were paid a large sum of money to help build a mosque at ground zero, would you?

Description : If you were paid a large sum of money to help build a mosque at ground zero, would you?

Last Answer : I would build it for free.

The characteristic of the shape function is a.the shape function has a unit value at one nodal point and zero value at the other nodes b.the sum of the shape function is equal to one c.both a & b d.None of the above

Description : The characteristic of the shape function is a.the shape function has a unit value at one nodal point and zero value at the other nodes b.the sum of the shape function is equal to one c.both a & b d.None of the above

Last Answer : c.both a & b

A number of forces acting at a point will be in equilibrium if a.Sum of the forces is zero b.Algebraic sum of the forces is zero c.Sum of the resolved parts in any two perpendicular directions are both zero d.None of the above e.The metacentre of the body

Description : A number of forces acting at a point will be in equilibrium if a.Sum of the forces is zero b.Algebraic sum of the forces is zero c.Sum of the resolved parts in any two perpendicular directions are both zero d.None of the above e.The metacentre of the body

Last Answer : d. None of the above

The necessary condition of equilibrium of a body is a.The algebraic sum of horizontal components of all forces must be zero b.The algebraic sum of vertical components of all forces must be zero c.The algebraic sum of forces about a point must be zero d.All the above e.None of the above

Description : The necessary condition of equilibrium of a body is a.The algebraic sum of horizontal components of all forces must be zero b.The algebraic sum of vertical components of all forces must be zero c.The algebraic sum of forces about a point must be zero d.All the above e.None of the above

Last Answer : d. All the above

The sum of the roots of the equation (1/(x+a))+(1/(x+b))=1/c is zero. What is the product of the roots of the equation ? -Maths 9th

Description : The sum of the roots of the equation (1/(x+a))+(1/(x+b))=1/c is zero. What is the product of the roots of the equation ? -Maths 9th

Last Answer : answer:

The minimum number of numerically equal vectors whose vector sum can be zero is

Description : The minimum number of numerically equal vectors whose vector sum can be zero is

Last Answer : The minimum number of numerically equal vectors whose vector sum can be zero is (A) 4 (B) 3 (C) 2 (D) 1

If a whole number between 100 and 999 has 3 different non zero digits What is the least possible value of the sum of its digits?

Description : If a whole number between 100 and 999 has 3 different non zero digits What is the least possible value of the sum of its digits?

Last Answer : 6

In energy method for finding frequency of the system A The sum of kinetic and potential energy is constant B The sum of kinetic and potential energy is zero C Frequency cannot be determined by energy method D None of the mentioned

Description : In energy method for finding frequency of the system A The sum of kinetic and potential energy is constant B The sum of kinetic and potential energy is zero C Frequency cannot be determined by energy method D None of the mentioned

Last Answer : A The sum of kinetic and potential energy is constant

Fluidised beds are formed, when the (A) Fluid friction is zero (B) Gravity force is less than the fluid friction (C) Pressure forces equal gravity forces (D) Sum of the fluid friction and pressure forces is equal and opposite to gravity forces

Description : Fluidised beds are formed, when the (A) Fluid friction is zero (B) Gravity force is less than the fluid friction (C) Pressure forces equal gravity forces (D) Sum of the fluid friction and pressure forces is equal and opposite to gravity forces

Last Answer : (B) Gravity force is less than the fluid friction

In case of principal axes of a section (A) Sum of moment of inertia is zero (B) Difference of moment inertia is zero (C) Product of moment of inertia is zero (D) None of these

Description : In case of principal axes of a section  (A) Sum of moment of inertia is zero  (B) Difference of moment inertia is zero  (C) Product of moment of inertia is zero  (D) None of these 

Last Answer : (C) Product of moment of inertia is zero 

The difference of level between a point below the plane of sight and one above, is the sum of two staff readings and an error would be produced equal to (A) The distance between the zero of gradient and the foot of the staff (B) Twice the distance between the zero of graduation and the foot of the staff (C) Thrice the distance between the zero of graduation and the foot of the staff (D) None of the above

Description : The difference of level between a point below the plane of sight and one above, is the sum of two staff readings and an error would be produced equal to (A) The distance between the zero of ... Thrice the distance between the zero of graduation and the foot of the staff (D) None of the above

Last Answer : (B) Twice the distance between the zero of graduation and the foot of the staff

The operation of making the algebraic sum of latitudes and departures of a closed traverse, each equal to zero, is known (A) Balancing the sights (B) Balancing the departures (C) Balancing the latitudes (D) Balancing the traverse

Description : The operation of making the algebraic sum of latitudes and departures of a closed traverse, each equal to zero, is known (A) Balancing the sights (B) Balancing the departures (C) Balancing the latitudes (D) Balancing the traverse

Last Answer : (D) Balancing the traverse

In moment distribution method, the sum of distribution factors of all the members meeting at any joint is always (A) Zero (B) Less than 1 (C) 1 (D) Greater than 1

Description : In moment distribution method, the sum of distribution factors of all the members meeting at any joint is always (A) Zero (B) Less than 1 (C) 1 (D) Greater than 1

Last Answer : (C) 1

Reactions at the supports of a structure can be determined by equating the algebraic sum of (A) Horizontal forces to zero (B) Vertical forces to zero (C) Moment about any point to zero (D) All the above

Description : Reactions at the supports of a structure can be determined by equating the algebraic sum of (A) Horizontal forces to zero (B) Vertical forces to zero (C) Moment about any point to zero (D) All the above

Last Answer : (D) All the above

According to principle of moments (A) If a system of coplanar forces is in equilibrium, then their algebraic sum is zero (B) If a system of coplanar forces is in equilibrium, then the algebraic sum of their moments about any point in their plane is zero (C) The algebraic sum of the moments of any two forces about any point is equal to moment of their resultant about the same point (D) Positive and negative couples can be balanced

Description : According to principle of moments  (A) If a system of coplanar forces is in equilibrium, then their algebraic sum is zero  (B) If a system of coplanar forces is in equilibrium, then the ... of  their resultant about the same point  (D) Positive and negative couples can be balanced

Last Answer : (C) The algebraic sum of the moments of any two forces about any point is equal to moment of  their resultant about the same point 

A number of forces acting at a point will be in equilibrium if (A) Their total sum is zero (B) Two resolved parts in two directions at right angles are equal (C) Sum of resolved parts in any two perpendicular directions are both zero (D) All of them are inclined equally

Description : A number of forces acting at a point will be in equilibrium if (A) Their total sum is zero (B) Two resolved parts in two directions at right angles are equal (C) Sum of resolved parts in any two perpendicular directions are both zero (D) All of them are inclined equally

Last Answer : (C) Sum of resolved parts in any two perpendicular directions are both zero

If a system after undergoing a series of processes, returns to the initial state then  (a) process is thermodynamically in equilibrium  (b) process is executed in closed system cycle  (c) its entropy will change due to irreversibility  (d) sum of heat and work transfer will be zero  (e) no work will be done by the system.

Description : If a system after undergoing a series of processes, returns to the initial state then  (a) process is thermodynamically in equilibrium  (b) process is executed in closed system cycle  (c) its entropy will ... sum of heat and work transfer will be zero  (e) no work will be done by the system.

Last Answer : Answer : d

The method which depreciates the tractor or machine to zero at the end of its expected life is known as: A. Estimated value B. Sum-of-the digits C. Declining balance D. Straight line

Description : The method which depreciates the tractor or machine to zero at the end of its expected life is known as: A. Estimated value B. Sum-of-the digits C. Declining balance D. Straight line

Last Answer : D. Straight line

All entries in the balance of payments should collectively sum to (a) GDP of that country ; (b) GNP of that country ; (c) Zero ; (d) Exports of that country.

Description : All entries in the balance of payments should collectively sum to (a) GDP of that country ; (b) GNP of that country ; (c) Zero ; (d) Exports of that country. 

Last Answer :  (c) Zero

For a body to be in equilibrium, which of the following conditions must exist? w) no forces may be acting on the body. x) the body must be accelerating. y) the velocity of the body must be zero. z) the sum of the forces acting on the body must be equal to zero.

Description : For a body to be in equilibrium, which of the following conditions must exist? w) no forces may be acting on the body. x) the body must be accelerating. y) the velocity of the body must be zero. z) the sum of the forces acting on the body must be equal to zero. 

Last Answer : ANSWER: Z -- THE SUM OF THE FORCES ACTING ON THE BODY MUST BE EQUAL TO ZERO.