What does it mean when something is a zero-sum game?

A zero-sum game is a situation where, if one party loses, the other party wins, and the net change in wealth is zero. Zero-sum games can include just two players or millions of participants. Most transactions are non-zero-sum games because the end result can be beneficial to both parties.

Where does the term zero-sum game come from?

A zero-sum game describes a relationship, competition, or business deal where one person’s gain is the other person’s loss. The phrase “zero-sum game” comes from game theory and the notion that if one person wins and the other person loses, this produces a net gain of zero.

What is another word for zero-sum?

“A conflict that was previously regarded as zero-sum for either side can now be seen as win-win for both.”…What is another word for zero-sum?

What is a zero-sum game in relationships?

For those unfamiliar with the term zero-sum, it is simply the idea that when one gains, the other loses. Most arguments are zero-sum. I’m right, you’re wrong, you win, I lose. A lot of relationships become zero-sum relationships, where the couple keeps track of who is “always right”.

What is another word for zero sum?

What is meant by non zero sum game?

A Non-Zero-Sum Game is a situation where one’s win does not necessarily mean another’s loss, and one’s loss does not necessarily mean that the other party wins. In a Non-Zero-Sum Game, all parties could gain, or all parties could lose.

What does not a zero sum game mean?

A zero sum game is any game in which what is gained by one side is lost by the other. Most two player games with points are like that: a goal for one side is a goal against the other. But games don’t have to be zero sum. Races are not zero sum: if one runner goes faster, it doesn’t slow the other.

Are commodities a zero sum game?

Commodity futures are a zero-sum game, meaning that every long position is offset by a short position. As a result, commodities have no market capitalization to weight by, and every index must pick a distinct strategy to follow.

What is the opposite of zero sum game theory?

Definition and meaning. A non-zero sum game is the opposite of a zero-sum game. When the interacting parties’ aggregate gains and losses are either less than or more than zero – but never exactly zero – it is a non-zero-sum game. In economics, there are many situations that are non-zero-sum,…