A New Relative Skill Measure for Games with Chance Elements
AbstractAn interesting aspect of games is the relative extent to which a player can positively influence his results by making appropriate strategic choices. This question is closely related to the issue of how to distinguish between games of skill and games of chance. The distinction between these two types of games is definitely interesting from a juridical point of view. Borm and Van der Genugten (2001) presented a method to measure the skill level of a game. In principle, their measure can serve as a juridical tool for the classification of games with respect to skill. In this paper we present a modification of the measure. The main difference is that this new definition does not automatically classify incomplete information games without chance moves as games of skill. We use a coin game and a simplified version of standard drawpoker as an illustration.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2001-106.
Date of creation: 2001
Date of revision:
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Web page: http://center.uvt.nl
games of skill; games of chance;
Other versions of this item:
- Marcel Dreef & Peter Borm & Ben van der Genugten, 2004. "A new relative skill measure for games with chance elements," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(5), pages 255-264.
- Dreef, M.R.M. & Borm, P.E.M. & Genugten, B.B. van der, 2004. "A new relative skill measure for games with chance elements," Open Access publications from Tilburg University urn:nbn:nl:ui:12-140730, Tilburg University.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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- Borm, P.E.M. & Genugten, B.B. van der, 2001.
"On a relative measure of skill for games with chance elements,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-88286, Tilburg University.
- Peter Borm & Ben Genugten, 2001. "On a relative measure of skill for games with chance elements," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 9(1), pages 91-114, June.
- Patrick Larkey & Joseph B. Kadane & Robert Austin & Shmuel Zamir, 1997. "Skill in Games," Management Science, INFORMS, vol. 43(5), pages 596-609, May.
- Vito Fragnelli & Maria Erminia Marina, 2011. "Skill and Chance in Insurance Policies," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 5(2), pages 191-202, August.
- Marcel Dreef & Peter Borm, 2006.
"On the role of chance moves and information in two-person games,"
TOP: An Official Journal of the Spanish Society of Statistics and Operations Research,
Springer, vol. 14(1), pages 75-98, June.
- Dreef, M.R.M. & Borm, P.E.M., 2003. "On the Rule of Chance Moves and Information in Two-Person Games," Discussion Paper 2003-100, Tilburg University, Center for Economic Research.
- Hendrickx, R.L.P. & Borm, P.E.M. & Genugten, B.B. van der & Hilbers, P., 2008. "Measuring Skill in More-Person Games with Applications to Poker," Discussion Paper 2008-106, Tilburg University, Center for Economic Research.
- Krishna, Pravin & Poole, Jennifer P. & Senses, Mine Zeynep, 2011. "Trade liberalization, firm heterogeneity, and wages : new evidence from matched employer-employee data," Policy Research Working Paper Series 5711, The World Bank.
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