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
Divide 6.8 × 10 5 by 2.0 × 10 2 . Write your answer in scientific notation? To divide numbers written in scienti?c notation and divide the ?rst numbers (6.8 ÷ 2.0 = 3.4); the

Need Solution Find (dy)/( dx) for; (i). y = x 7 (ii). y = x 2γ (iii). y = x -3 (iv). y = x

Example of Subtraction of Fractions: 1/3 + 1/6 + 1/8 = ____ Using trial & error we could search that 24 is the LCD or smallest number in which 3, 6, and 8 will all divide w

Suppose that x = x (t ) and y = y (t ) and differentiate the following equation with respect to t. Solution                                         x 3 y 6 + e 1- x - cos (5

how many sides does a regular hexagon have?

1.)3 3/8 divided by 4 7/8 plus 3 2.)4 1/2 minus 3/4 divided by 2 3/8

ball are arranged in rows to form an equilateral triangle .the firs row consists of one abll,the second of two balls,and so on.If 669 more balls are added,then all the balls canbe

every rational nmber is expressible either as a_________or as a____________decimal.

You have been research for your statistics class on how nervous the American adults are in general, you have decided to use HINTS 2007 data set that has a scale (going from 0 to 24

WHAT TWO SIX DIDGIT NUMBERS CAN YOU ADD 984,357