Game theory, Managerial Accounting

Game Theory

Game theory was developed for the purpose of analyzing competitive situation involving conflicting interests. In game theory, there are assumed to be two or more persons with different objectives, each of whole action influences, but does not completely determine the outcome of the game. Each person is assumed to know his opponents objectives. Game theory provides solutions to such games assuming that each of the players is to maximize his minimum expected profit or minimize his maximum expected loss. This criterion (which is based on a conservative view of the problem) is referred to as Minima or maximum criterion.

Posted Date: 12/8/2012 2:53:30 AM | Location : United States







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

Write discussion on Game theory
Your posts are moderated
Related Questions
COST-VOLUME PROFIT (C-V-P) ANALYSIS INTRODUCTION You can employ cost-volume-profit analysis to examine the natural relationship among cost, volume, and profit in pricing decision

#question1-50..

a certain company makes 3 products A,B and C and they use the same raw material zhong.details about each product is as follows.production units are 10 000 for A,8 000 for B,12 000

costs/per unit labor ... $ 4 materials ...5 fixed cost... $ 12 determine the break even point in units if the seeling price is $ 19 determine the break even point in sales at

Describe the impact of different types of standards on motivations, and specifically, the likely effect on motivation of adopting the labor standard recommended for Geeta & Company

Full Service Recourse Factoring : In this kind of factoring the client has to bear the risk of default made through the debtors. There the factor had advanced funds against book de

Suppose the consumer is at coffee shop 2. Coffee shop 2 provides unlimited cups of coffee for the price of $9.00 per day. - How many cups would she drink a day and how much woul

Strengths and weakness of net book value and pay back method

The Braggs & Struttin'' Company manufactures an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, based on sales of

Time sheets are collected in a batch, and the information is manually keyed into the system. This data is now stored on a magnetic disk. An editing program is run, which verifies w