There are a number of emerging approaches that modern organizations are adopting to structure their organizational administrative functions. In Module 2 concepts of outsourcing, shared services and call centers are….
Project: Game Theory General Information: Game theory is used to model 2-person (or 2-player) games requiring the same decisions to be made at each step.
Project: Game Theory General Information: Game theory is used to model 2-person (or 2-player) games requiring the same decisions to be made at each step. Furthermore, these decisions may result in payoffs or penalties for each player at each step. In such situations, it is often possible for each player to formulate a strategy which will maximize their return. Linear algebra can be used to describe this situation. In this project, you will learn exactly how linear algebra enters into formulating strategies.
Key Words: Two person zero-sum game, Payoff matrix, Strategy, Expected payoff, Optimal strategy, Value of a game, Saddle point, Fundamental theorem of a 2-person zero-sum game
References: Basic books on Operations Research (a branch of applied mathematics which studies these types of problems) are a good place to look for information.
http:///www.zweigmedia.com/pdfs/GameTheorv.pdf Problem 2: Determine the optimal pure strategies under the minimax criterion for both players. Indicate whether the given game is strictly determined, and give its value if this is the case