Ordinal payoffs, Game Theory

 

Ordinal payoffs are numbers representing the outcomes of a game where the worth of the numbers isn't vital, however solely the ordering of numbers. for instance, when solving for a Nash equilibrium in pure methods, one is just involved with whether or not one payoff is larger than another - the degree of the distinction isn't vital. Thus, we are able to assign values like "1" for the worst outcome, "2" for following best, and so on. Thus, ordinal payoffs merely rank all of the outcomes. For mixed strategy calculations, cardinal payoffs should use.

 

Posted Date: 7/21/2012 4:38:31 AM | Location : United States







Related Discussions:- Ordinal payoffs, Assignment Help, Ask Question on Ordinal payoffs, Get Answer, Expert's Help, Ordinal payoffs Discussions

Write discussion on Ordinal payoffs
Your posts are moderated
Related Questions
A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.

Identification is closely related to the estimation of the model. If an equation is identified, its coefficient can, in general, be statistically estimated. In particula

Backward induction is an iterative procedure for resolving finite general form or sequential games. First, one decides the finest policy of the player who makes the last move of th

Description The simplest of William Poundstone's social dilemmas during which the every player contains a dominant strategy and also the equilibrium is Pareto optimal. the sole

the first three words are ''''the boys'' down''''. what are the last three words?

write a program in c that takes n number finite players using gambit format and output is to be all pure strategy nash equilibrium


Scenario Any game during which the identity of the player doesn't amendment the ensuing game facing that player is symmetric. In different words, every player earns identical pa

A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the

Consider the situation in which Player M is an INCUMBENT monopolist in an industry, which makes a profit of $10m if left to enjoy its privileged position undisturbed. Player P is a