Dominance Property ~ Game Theory
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Game theory in Operation Research ~ Pure Strategy
Pure Strategy : Game Theory The simplest type of game is one where the best strategies for both players are pure strategies . This is the case if and only if, the pay-off matrix contains a saddle point. Example: Pure Strategy in Game Theory Player B Player A I II III IV V I -3 1 1 6 4 II 5 3 2 4 3 III -5 -4 1 -3 7 IV 6 4 -5 3 -7 What is the optimal plan for both the players? Solution. We use the maximin (minimax) principle to analyze the game. Player B Player A I II III IV V Minimum I -3 1 ...
Game Theory in Operation Research ~ Introduction
Game theory It was developed for the purpose of analyzing competitive situations involving conflicting interests. In other words, game theory is used for decision making under conflicting situations where there are one or more opponents. The game theory models can be classified into several categories. Some important categories are listed below. Two-person & N-person games If the number of players is two, it is known as two-person game. On the other hand, if the number of players is N, it is known as N-person game. Zero sum & Non-zero sum game In a zero sum game, the sum of the points won equals the sum of the points lost, i.e., one player wins at the expense of the other. To the contrary, if the sum of gains or losses is not equal to zero, it is either positive or negative, then it is known as non-zero sum game. An example of non-zero sum game is the case of two competing firms each with a choice regarding its advertising campaign. In such a situa...