Theory of metagames, Managerial Accounting

THEORY OF METAGAMES

This theory appears to describe how most people play non-zero sum games involving any number of persons.

Prisoner's dilemma is an example of this; the aim is to identify points at which players actually tend to stabilize their play in non-zero sum games.

This theory not only identifies equilibrium points missed by traditional game theory in games that have one or more such points but also does so in games in which traditional theory finds no such points.

Its main goal is that, each player is trying to maximize the minimum gain of his opponent.

Posted Date: 12/8/2012 4:17:55 AM | Location : United States







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