centipede game (English, noun)
expansion: centipede game (plural centipede games)
Senses:
topics: computing
engineering
game-theory
mathematics
natural-sciences
physical-sciences
sciences
glosses: An extensive form game in which two players take turns choosing either to take a slightly larger share of an increasing pot, or to pass the pot to the other player. The payoffs are arranged so that if one passes the pot to one's opponent and the opponent takes the pot on the next round, one receives slightly less than if one had taken the pot on this round, but after an additional switch the potential payoff will be higher. Therefore, although at each round a player has an incentive to take the pot, it would be better for them to wait.
Forms:
form: centipede games
tags: plural