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THEORY OF METAGAMES
This theory appears to describe how most people play non-zero sum games involving any number of persons.
Prisoner's dilemma is an example of this; the aim is to identify points at which players actually tend to stabilize their play in non-zero sum games.
This theory not only identifies equilibrium points missed by traditional game theory in games that have one or more such points but also does so in games in which traditional theory finds no such points.
Its main goal is that, each player is trying to maximize the minimum gain of his opponent.
Selective Inventory Management The inventory of an industrial firm generally comprises thousands of items with diverse prices, usage and lead time, as well as procurement and/o
In the earlier unit, we have studied how firms determine their requirements for current assets and manage their holdings in cash and marketable securities. Inside a classical manuf
Prisoner's Dilemma To understand the prisoner’s dilemma, let’s consider a story as follows: Two peoples are arrested for a crime. The police lack enough evidence to convict ei
Funds produced from operations, throughout an accounting period, raise working capital by an equivalent amount. The two major components of funds generated from operations are depr
Activity Based Costing (ABC) differs from Absorption Costing (AC) in the manner in which overheads are charged to units. ABC charges overheads to units based on their proportion
Transfer pricing sometimes entails using different transfer pricing systems: one for tax purposes, and one for internal decision making, even though maintaining two systems can be
Going rate or follow the crowd pricing:- In this method the firm price its products at the similar level as that of the competition. This method supposes that there will be no
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What are the Resons to use Variance analysis Variance analysis should be a continuous process for following reasons: 1) Labor rates, salary levels etc, changes due to union
what areas can linear programming be applied in managerial accounting?
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