Dominance, Managerial Accounting

DOMINANCE

Dominance strategy is useful for reducing the size of the payoff table.

Rules of Dominance:

1) If all the elements in a column are greater than or equal to the corresponding elements in another column, then the column is dominated.

2) Similarly, if all the elements in a row are less than or equal to the corresponding elements in another row, then the tow is dominated.

3) Dominated rows and columns may be deleted which reduces the size of the game.

Note:   
Always look for dominance and saddle point when solving a game.

Posted Date: 12/8/2012 3:16:18 AM | Location : United States







Related Discussions:- Dominance, Assignment Help, Ask Question on Dominance, Get Answer, Expert's Help, Dominance Discussions

Write discussion on Dominance
Your posts are moderated
Related Questions
Activity Based Management (ABM) Also referred to as activity based cost management (ABCM). This is used to describe the cost management application of ABC. To implement A

Cash is a significant current asset for the operations of business. Cash is the fundamental input that maintains business running smoothly and continuously. In excess of cash and l

State Factors determining Working Capital requirement.

Q. Show process of Pricing under decline stage? In this stage the producer should follow the pricing strategy which may fetch revenue not less than its cost of production. If h

Moore Company uses process costing.  The following information was available for October: During October, 1,000 units were started, and costs incurred during the month were

Explain Direct labor cost standard The setting up of standard labor cost for each product would require: a) The determination of budgeted fixed overhead for a period b) B

Budgetary control According to CIMA the establishment of budgets relating the responsibilities of executive to the requirement of a policy and the continuous comparison of achi

Determine the Distribution cost and Research cost Distribution cost: The cost of sequence of the operations which begin with making the packed product available for dispa

What is Standard costing Standard cost is a predetermined cost. It is a determination in advance of production of what should be the cost. When standard costs are used for the

What is Sealed bid pricing Another from of competition oriented pricing is the sealed bid pricing. In a large number of projects, industrial marketing and marketing to the gove