Non zero sum games- game theory, Mathematics

Assignment Help:

Non Zero Sum Games

Recently there was no satisfactory theory either to describe how people should play non-zero games or to explain how they actually play that game

Nigel Howard (1966) developed a method which explains how most people play non-zero sum games concerning any number of persons

Illustration

Each individual farmer can maximize his own income by maximizing the amount of crops such he produces. While all farmers follow this policy the supply exceeds demand and the prices fall or decrease. On other hand they can agree to reduce the production and remain the prices high

  • It creates a dilemma to the farmer
  • It is an demonstration of a non zero sum game
  • Similarly marketing problems are non-zero sum games as elements of advertising come in. in that cases the market may be split in proportion to the money spent on advertising multiplied by an effectiveness factor

 


Related Discussions:- Non zero sum games- game theory

Determine how much more time it will take to reach the base, A man on a top...

A man on a top of a tower observes a truck at an angle of depression α where tanα = 1/√5 and sees that it is moving  towards the base of the tower. Ten minutes later, the angle of

How many gumdrops, Will has a bag of gumdrops. If he eats 2 of his gumdrops...

Will has a bag of gumdrops. If he eats 2 of his gumdrops, he will have among 2 and 6 of them left. Which of the subsequent represents how many gumdrops, x, were originally in his b

Integers, Explain with the help of number line (-6)+(+5)

Explain with the help of number line (-6)+(+5)

Abels theorem, If y 1 (t) and y 2 (t) are two solutions to y′′ + p (t ) ...

If y 1 (t) and y 2 (t) are two solutions to y′′ + p (t ) y′ + q (t ) y = 0 So the Wronskian of the two solutions is, W(y 1 ,y 2 )(t) = =

Fractions and equations and illustration, if Mr.Ibias oredered a rectangula...

if Mr.Ibias oredered a rectangular pizza and he wants 2/3 of the pizza to be pepperoni and 1/2 of the pizza with pineapple draw and label the pizza with toppings explain your think

Math, what is quantity ?

what is quantity ?

Matric, fgdg ggghfr hhrhfrf hfrrg jhj hjgg dear friend ghr tu vgu jyyiu ui ...

fgdg ggghfr hhrhfrf hfrrg jhj hjgg dear friend ghr tu vgu jyyiu ui u huik bgyuiiyts husk

Power of iota, The next topic that we desire to discuss here is powers of i...

The next topic that we desire to discuss here is powers of i. Let's just take a look at what occurring while we start looking at many powers of i . i 1 = i

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