Non-zero sum games, Managerial Accounting

Assignment Help:

Non-Zero Sum Games

Within very vast situations of possible non-zero games, varying degrees of co-operation exist between the participants. Games theory has been sufficiently developed to deal with two extreme forms—the co-operative game and non-cooperative game.

In a co-operative game, the players have complete freedom to communicate with each other.  They can make threats; enter into agreements favorable to them. They can freely negotiate and enter into binding agreements. In a non-cooperative game there is no communication between the participants and no way of enforcing agreements.

Prisoner's dilemma games, battle of sexes games, chicken and Hawk (dove game) are all illustrations of non-zero sum games.


Related Discussions:- Non-zero sum games

Illustrate the marginal cost pricing, Marginal cost or incremental cost pri...

Marginal cost or incremental cost pricing method: Here the company may work on the premise of recovering its marginal cost and getting a contribution towards its overheads. Thi

Dentify and explain the many classsification of cost, dentify and explain t...

dentify and explain the many classsification of cost for planning,control,performance evaluation and decision making

Constraints, Constraints 1) A constraint of the type ≤ (≥) can be conve...

Constraints 1) A constraint of the type ≤ (≥) can be converted to an equation by adding a slack variable to (subtracting a surplus variable form) the left side of the constrain

Describe the benefits of operating decisions - relevant cost, Relevant cost...

Relevant costs and benefits for operating decisions: In operating decisions, concentration is on best use of existing capacity. Incremental analysis based on differential cost

Explain the quick ratio - liquidity ratios, Quick ratio Meaning: this...

Quick ratio Meaning: this ratio establishes a relationship among quick assets and current liabilities Objective: the objective of commuting this ratio is to calculate th

Innova uses 1, Innova uses 1,056 units of the component IMC2 every month to...

Innova uses 1,056 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufacture the component are as follows. Direct material

Explain the objectives of management accounting, Explain the Objectives of ...

Explain the Objectives of management accounting? 1. Planning and policy formulation: the object of management accounting is to supply necessary data to the management for fo

Journal Entries and T-account, h. Production orders that had cost 450,000 t...

h. Production orders that had cost 450,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 50% above

Example of credit period, M/s ABC has an existing sales of Rs.50 lakhs and ...

M/s ABC has an existing sales of Rs.50 lakhs and permits a credit period of 30 days to its customers.  The firm cost of capital is 10% and the ratio of variable cost to sales is 85

The least-cost method, The least-cost method The process is described a...

The least-cost method The process is described as follows: Assign as much as possible to the variable with the least unit cost in the whole tableau. (Ties are broken randomly).

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd