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
What are the limation of semi variable cost and how to overcome it?

The significant functions of a treasury department are as given below: a) Setting up corporate financial goals Financial strategies and aim Treasury and financial po

Cost Behavior A firm's cost position results from the cost behavior of its value activities. The cost behavior is based on a number of structural factors which influence cost


Given the persistent problem with starvation in some parts of the world, and the anticipated population growth in developing nations, do we need genetically modified foods? Is it r

Independence of observations An important assumption for the simple linear regression model is the independence of errors. In many time series models, this assumption is violat

Financial manager's role in inventory management The techniques of inventory management are very useful in determining the optimum level of inventory and finding answers to the

The Pinewood Furniture Company Pty Ltd plans to design two lines of chairs in the coming year-lounge and patio. The company is considering introducing an activity-based costing sys

STEPS OF DEVELOPING A COST ESTIMATING RELATIONSHIP Firmly speaking, a CER is not a quantitative method. It is a framework for using suitable quantitative methods to quantify a

Using one of the companies from DQ 1, describe how inventory planning and accuracy can be defined using the Pareto principle. The company is Target, Inc.