I haven't found any suitable explanation or even definition for this concept. What is the value of game in game theory? Can anybody explain me with an example.
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$\begingroup$The value of a game is the expected value to a given player. For example, a game where you flip a coin and win $2$ for heads and lose $1$ for tails has a value to you of $\frac 12\cdot 2 + \frac 12 \cdot (-1)=\frac 12$. If you have to pay $\frac 12$ to play the game you will break even in the long run.
$\endgroup$ 9 $\begingroup$One definition of the "value of a game" is as the nim-value or "nimber" of a game. The Sprague-Grundy Theorem says that all games (satisfying a few standard assumptions true of most combinatorial games) are equivalent to a single nimheap, i.e. they behave the same way under game addition. The number of stones in the nimheap is the "nimber," which is perhaps what the value of a game means.
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