Zero-Sum Game
Definition
A situation where one party's gain is exactly another's loss — total payoff is fixed. Most economic exchanges are positive-sum, not zero-sum.
Example
Dividing a fixed pie is zero-sum; trade and production are not.
A situation where one party's gain is exactly another's loss — total payoff is fixed. Most economic exchanges are positive-sum, not zero-sum.
Dividing a fixed pie is zero-sum; trade and production are not.