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

Limits-of-sum, limit 0 to 2(3x^2+2) Solution) integrate 3x^2 to x^3 and...

limit 0 to 2(3x^2+2) Solution) integrate 3x^2 to x^3 and 2 to 2x and apply the limit from 0 to 2 answer is 12.

Prove intercept of a tangent between two parallel, Prove that the intercept...

Prove that the intercept of a tangent between two parallel tangents to a circle subtends a right angle at the centre. Since Δ ADF ≅ Δ DFC ∠ADF = ∠CDF ∴ ∠ADC = 2 ∠CDF

What is the probability a 3 will be rolled and a tail tossed, A die is roll...

A die is rolled and a coin is tossed. What is the probability that a 3 will be rolled and a tail tossed? Find the probability of each event separately, and then multiply the an

Determine the domain of the function, Determine or find out the domain of t...

Determine or find out the domain of the subsequent function. r → (t) = {cos t, ln (4- t) , √(t+1)} Solution The first component is described for all t's. The second com

Definition of concavity, Definition 1: Given the function f (x ) then 1...

Definition 1: Given the function f (x ) then 1. f ( x ) is concave up in an interval I if all tangents to the curve on I are below the graph of f ( x ) . 2. f ( x ) is conca

#title.heat loss in a cylindrical pipe., briefly explain how the famous equ...

briefly explain how the famous equation for the loss of heat in a cylindrical pipe is derived

Strategy -game theory, STRATEGY It refers to a total pattern of cho...

STRATEGY It refers to a total pattern of choices employed by any player. Strategy could be pure or a mixed one In a pure strategy, player X will play one row all of the

Example of division , Example of division: Divide 738 by 83. Soluti...

Example of division: Divide 738 by 83. Solution: Example: Divide 6409 by 28. Solution: Division could be verified through multiplying

Polynomials in one variable, Polynomials In this section we will discu...

Polynomials In this section we will discuss about polynomials.  We will begin with polynomials in one variable. Polynomials in one variable Polynomials in one variable

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