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Ordinal payoffs are numbers representing the outcomes of a game where the worth of the numbers isn't vital, however solely the ordering of numbers. for instance, when solving for a Nash equilibrium in pure methods, one is just involved with whether or not one payoff is larger than another - the degree of the distinction isn't vital. Thus, we are able to assign values like "1" for the worst outcome, "2" for following best, and so on. Thus, ordinal payoffs merely rank all of the outcomes. For mixed strategy calculations, cardinal payoffs should use.
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
(a) Equilibrium payoffs are (1, 0). Player A’s equilibrium strategy is S; B’s equilibrium strategy is “t if N.” For (a): Player A has two strategies: (1) N or (2) S. P
Backward induction is an iterative procedure for resolving finite general form or sequential games. First, one decides the finest policy of the player who makes the last move of th
Assuming that there are only 2 airline companies in the world, Delta and US Airways, what is the ((Nash) Equilibrium) or price that each company in the following matrix will charge
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A static game is one during which all players build choices (or choose a strategy) simultaneously, while not information of the methods that are being chosen by different players.
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A sub game excellent Nash equilibrium is an equilibrium such that players' methods represent a Nash equilibrium in each sub game of the initial game. it should be found by backward
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