Standard conventions in game theory, Mathematics

Assignment Help:

Standard conventions in game theory

Consider the given table:

Y

 

3

-4

X

-2

1

  • X plays row I, Y plays columns I, X wins 3 points
  • X plays row I, Y plays columns II, X looses 4 points
  • X plays row II, Y plays columns I, X looses 2 points
  • X plays row II, Y plays columns II, X wins 1 points

3, -4, -2, 1 are the identified pay offs to X(X takes precedence over Y)

here the game has been represented in the form of a matrix. When the games are expressed in this fashion the resulting matrix is commonly known as PAYOFF MATRIX

 

 


Related Discussions:- Standard conventions in game theory

Problem, if .77x + x = 8966.60, what is the value of x?

if .77x + x = 8966.60, what is the value of x?

Rational numbers, Although the set of integers caters to a larger aud...

Although the set of integers caters to a larger audience, it is inadequate. This inadequacy has led to the formulation of Rational numbers. Rational numbers are of

Alcohol Solutions, If you have 60% alcohol and wish to dilute with water to...

If you have 60% alcohol and wish to dilute with water to make 12 liters 40% alcohol, How many liters of water should you add?

prove area of rhombus on hypotenuse right-angled triangle, Prove that the ...

Prove that the area of a rhombus on the hypotenuse of a right-angled triangle, with one of the angles as 60o, is equal to the sum of the areas of rhombuses with one of their angles

World problem, Buses to Acton leave a bus station every 24 minutes. Buses t...

Buses to Acton leave a bus station every 24 minutes. Buses to Barton leave the same bus station every 20 minutes. A bus to Acton and a bus to Barton both leave the bus station at 9

Give the example of exponents, Give the example of Exponents? When a nu...

Give the example of Exponents? When a number is multiplied several times, it is easier to write it as an exponent. For example, four multiplied to itself three times, is writte

Algebra problem solving , A rectangles lenth is (x+4) and width is (x+3).By...

A rectangles lenth is (x+4) and width is (x+3).By adding binomials give its perimiter

Speed, how much distance is covered by a man if he is travelling at a speed...

how much distance is covered by a man if he is travelling at a speed of 45km/h in 5 sec

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