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

How many ways can dvds be arranged on a shelf, How many ways can 4 DVDs be ...

How many ways can 4 DVDs be arranged on a shelf? Solution: There are 4 ways to choose the first DVD, 3 ways to choose the second, 2 ways to choose the third and 1 way to choo

Exponent, base also called what

base also called what

Weighted mean-progression, Weighted mean - It is the mean which employ...

Weighted mean - It is the mean which employs arbitrarily given weights - This is a useful measure especially whereas assessment is being done yet the situation prevailing a

Calculate the monthly payment amount of the loan, Consider a student loan o...

Consider a student loan of $12,500 at a fixed APR of 12% for 25 years, 1. What is the monthly payment amount? 2. What is the total payment over the term of the loan? 3. OF

Example of infinite interval - improper integrals, Evaluate the subsequent ...

Evaluate the subsequent integral. Solution This is an innocent enough looking integral. Though, because infinity is not a real number we cannot just integrate as norm

Find the value a2 + ß2 and (a - ß)2, If  α,β are the zeros of the polynom...

If  α,β are the zeros of the polynomial 2x 2 - 4x + 5 find the value of a) α 2 + β 2   b) (α - β) 2 . Ans : p (x) = 2 x 2 - 4 x + 5           (Ans: a) -1 , b) -6) α + β =

Division of two like terms, Case 1: Suppose we have two terms 8ab and 4ab. ...

Case 1: Suppose we have two terms 8ab and 4ab. On dividing the first by the second we have 8ab/4ab = 2 or 4ab/8ab = (1/2) depending on whether we consider either 8ab or 4ab as the

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