Infinite Sum

An infinite sum, or infinite series, is the addition of an unending sequence of terms, a central idea for representing quantities that cannot be expressed conveniently by a finite calculation. It is defined through the sequence of partial sums: if the sums of the first n terms approach a finite limit as n increases, the series converges to that limit; otherwise, it diverges. Convergence tests, such as comparison or the ratio test, help determine its behavior, while geometric series provide a fundamental example. Infinite sums support power-series approximations, function analysis, and solutions to equations across mathematics and applied science.

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Zero-Sum and Non-Zero-Sum Game

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2025

Within game theory, games can be categorized as zero-sum or non-zero-sum games, based on how gains and losses are distributed among players. In a zero-sum game, one player's gain equals another player's loss, meaning the total amount of resources or benefits remains constant. For example, in a bidding war for a contract, if one company wins, the other loses out entirely, reflecting the fixed outcome of zero-sum games. Non-zero-sum games differ because gains and losses are not perfectly...

Introduction to Infinite Series

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2026

An infinite series is the sum of an infinite sequence of terms. Instead of adding only a fixed number of values, the addition continues without end. To make sense of this process, mathematicians examine partial sums, which are running totals formed by adding the first few terms of the series. If these partial sums approach a fixed number, the infinite series is said to converge. If they do not approach a finite value, the series diverges.The water tank example illustrates convergence through...

Infinitely Repeated Games

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2025

An infinitely repeated game is a scenario where players repeatedly engage in the same game without a predetermined end. This concept is crucial in understanding long-term interactions in various fields of the social sciences, including economics and international relations. Examples: Firms Setting Prices: Companies continuously adjust prices. Trade Negotiations: Countries consistently negotiate trade terms. Tit-for-Tat Strategy Cooperative Start: Players begin with a cooperative action,...

Sums of Power

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2026

In definite integration, Riemann sums approximate the area under a curve by dividing it into subintervals and summing the areas of rectangles. When these approximations follow predictable numerical patterns, such as arithmetic or polynomial sequences, sum formulas offer a more efficient and accurate way to compute the result. In particular, the sum of consecutive integers, squares, and cubes plays an essential role in simplifying these calculations, especially when dealing with uniform...

Lump-Sum Transfers

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2025

Lump-sum transfers help redistribute wealth without altering people’s work or consumption choices. Unlike taxes or subsidies, which change behavior by making certain activities more or less costly, lump-sum transfers provide a fixed amount regardless of earnings, spending, or labor decisions. Because they do not distort incentives, they allow markets to allocate resources efficiently while addressing initial inequalities in wealth distribution.The Second Welfare Theorem suggests that society...

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