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These farmers value increases in expected value, but seem indifferent about higher moment changes in payoff distributions.
Different amounts of variation can be equated with changes in payoff intervals (increasing the former is the same as decreasing the latter).
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There are no further changes in payoffs when adding a third, fourth, an so on.
In words, the effect of space is equivalent to making changes in the payoff matrix, and once this is done, the behavior of the spatial game can be predicted from the behavior of the replicator equation for the modified game.
In evolutionary game theory, due to the dynamic nature of the mechanisms of evolution, repeated strategic interactions and changes in the payoff functions provide insights into adaptive behaviors [37] [40].
However, this will not salvage the situation as a Prisoner's Dilemma game, because the crucial criterion remains, exclusively, whether there are changes in the payoffs' rank order.
Correlation risk refers to the change in the payoff from an asset when the correlation between the underlying assets is stochastic or uncertain.
"On the Mutually Beneficial Cooperative Scheme: dynamic change in the payoff matrix of international river basin schemes". Water Resources Research 18 (4):764–772.
Because of the interactive payoff nature of strategy, changes in behavior can alter payoffs.
This paper presents results from a series of experiments designed to test the impact on subject behavior of changes in the risk dominance and payoff dominance characteristics of two player coordination games.
Because the act of payoff alternation comes at a cost, purely selfish subjects will not change others' payoff in any treatment.
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