Lesson plan
Open-loop model
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.
Article summary
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.
Key claims
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Discussion questions
- Summarise the article in your own words. Which single claim would you verify first, and why?
- Which claim in this article is most likely to be revised as the sources update? How would you check its current status?
- If two sources disagreed about one of these facts, what would you need in order to trust one over the other?
Bibliography
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Key claims and bibliography are generated from the same tracked claims and sources as the article page.