2 Strategies. These are complete plans of action for playing the game. Although
strategies may simply involve choosing a single action, it is important to
understand that in some games there may be many actions involved.
A complete plan means that every possible contingency must be allowed for.
3 Payoffs. These represent changes in welfare or utility at the end of the game,
and are determined by the choices of strategy of each player. It is normally
assumed that players are rational and have the objective of maximizing
these utilities or expected utilities. Notice that the word each is important