Chapter 26, Problem 5P

To determine

The type of game as per the given situations.

Concept Introduction

Positive-Sum Game: In the game theory, positive-sum game means a situation where the total gains and losses are greater than zero. In such situations, both the parties involved in the negotiation gains from the contest.

Zero-Sum Game: In a zero-sum game, the total of the gains and losses is equal to zero. In such situations, one party benefits at the cost of the other.

Negative-Sum Game: In a negative-sum game, the sum of gains and losses is less than zero. This implies that in such situations one party can maintain its status quo only by causing loss to the other party.