Mathematicians, economists and analysts use the term zero-sum game throughout game theory and economic theory. It describes the financial gains of one party that cause an equal amount of loss for the other party. The net change in wealth in these situations is zero since it is neither destroyed nor created, just redistributed. In this article, we discuss what a zero-sum game is, explain where the concept comes from, tell why a zero-sum game is important and show examples of a zero-sum game. A zero-sum game is a situation where one person's loss in a transaction is equivalent to another person's gain. After the losses and gains, the net effect on both sides is equal to zero. This is because the model of zero-sum game includes all the resources at the start, meaning the supply of resources cannot shrink, cannot grow and there cannot be any external intervention.
Amusement theory provides a mathematical framework designed for analyzing the decision-making processes and strategies of adversaries or players in altered types of competitive situations. The simplest type of competitive situations are two-person, zero-sum games. These games involve barely two players; they are called zero-sum games because one player wins anything the other player loses. Consider the simple game called odds and evens. Suppose that player 1 takes evens and player 2 takes odds. After that, each player simultaneously shows either individual finger or two fingers. Each actor has two possible strategies: show individual finger or show two fingers. The payoff matrix shown below represents the payoff to player 1.
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