The value of a draw (Q2218538)

In this paper, the authors model matches as zero-sum recursive games and focus on those whose point games have three possible outcomes: Player 1 scores the point, player 2 scores the point, or (something that happens with probability less than 1) the point is drawn, in which case the point game is repeated. Such games are known as quasi-binary matches. For a quasi-binary match \(\Gamma\), it is shown that there exists a labeling such that any pair of minimax-stationary strategies with respect to it constitutes an equilibrium. This result allows us to compute the value \(v\) of \(\Gamma\) in a conceptually easy manner.