Open-loop model
≈ 1 min read
Names in other languages
No names in other languages are held for this entry yet.
Article bodies are English and are not machine-translated. A name in another language is not a translation of the article.
In game theory, an open-loop model is the one where players cannot observe the play of their opponents, as opposed to a closed-loop model, where all past play is common knowledge. The solution to an open-loop model is called open-loop equilibrium. Open loop models are more tractable, which is why they are sometimes preferred to closed-loop models even when the latter is a better description of reality.
In game theory, an open-loop model is the one where players cannot observe the play of their opponents, as opposed to a closed-loop model, where all past play is common knowledge. The solution to an open-loop model is called open-loop equilibrium. Open loop models are more tractable, which is why they are sometimes preferred to closed-loop models even when the latter is a better description of reality. ==References==
Text derived from https://en.wikipedia.org/w/index.php?oldid=1358004948 under CC BY-SA 4.0; modifications have been made.