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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.
a) Define the term Nash equilibrium b) You are given the following pay-off matrix: Strategies for player 1 Strategies for player 2
Games with Sequential Moves Most students find the idea of rollback very simple and natural, even without drawing or understanding trees. Of course, they start by being able to
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