Non zero sum games- game theory, Mathematics

Non Zero Sum Games

Recently there was no satisfactory theory either to describe how people should play non-zero games or to explain how they actually play that game

Nigel Howard (1966) developed a method which explains how most people play non-zero sum games concerning any number of persons

Illustration

Each individual farmer can maximize his own income by maximizing the amount of crops such he produces. While all farmers follow this policy the supply exceeds demand and the prices fall or decrease. On other hand they can agree to reduce the production and remain the prices high

  • It creates a dilemma to the farmer
  • It is an demonstration of a non zero sum game
  • Similarly marketing problems are non-zero sum games as elements of advertising come in. in that cases the market may be split in proportion to the money spent on advertising multiplied by an effectiveness factor

 

Posted Date: 2/19/2013 5:41:48 AM | Location : United States







Related Discussions:- Non zero sum games- game theory, Assignment Help, Ask Question on Non zero sum games- game theory, Get Answer, Expert's Help, Non zero sum games- game theory Discussions

Write discussion on Non zero sum games- game theory
Your posts are moderated
Related Questions
Q. How to Multiply two Fractions? Multiplying fractions is really easy! The rule is: "multiply across"- You multiply the numerators, and you multiply the denominators.

table of 12

how do we answer questions with fraction mixed. what are the easier ways to do it

The median Merits i.  This shows the centre of a described set of data ii.  Knowledge of the determination of the median may be extended to find out the quartiles i

One box can hold 5 1/2 lbs of nuts and 3 lb 6oz of bolts. What is the total weight for one box?


Multiple response question.Zack puts a mug of water ni his microwave oven. He knows that the final temperature of the water will be a function of the number of seconds he heats the

Solve 4 sin 2 ( t ) - 3 sin ( t /3)= 1 . Solution Before solving this equation let's solve clearly unrelated equation. 4x 2 - 3x = 1  ⇒ 4x 2 - 3x -1 = ( 4x + 1) ( x

Hi I have a maths question related to construction as its a construction management course...i could send some example sheets too...could it be done?

From past experience a machine is termed to be set up correctly on 90 percent of occasions.  If the machine is set up correctly then 95 percent of good parts are expected however i