Glossary of game theory terms.

Game Tree

A game tree (also called the extensive form) is a graphical representation of a sequential game. It provides information about the players, payoffs, strategies, and the order of moves. The game tree consists of nodes (or vertices), which are points at which players can take actions, connected by edges, which represent the actions that may be taken at that node. An initial (or root) node represents the first decision to be made. Every set of edges from the first node through the tree eventually arrives at a terminal node, representing an end to the game. Each terminal node is labeled with the payoffs earned by each player if the game ends at that node.

updated 20 March 2006