Question

In: Advanced Math

Create your own 2 × 2 payoff matrix for a two-person zero-sum game with v −...

Create your own 2 × 2 payoff matrix for a two-person zero-sum game with v − < v+. Solve your game (find a saddle point and the value of the game).

Solutions

Expert Solution

Answer :-

Payoff : The quantitative measure of satisfaction a person gets at the end of each play is called a payoff

Value of the game is the maximum guaranteed game to player A (maximizing player) if both the players uses their best strategies. It is generally denoted by ‘V’ and it is unique.


Related Solutions

For a two-person zero-sum game between X and Y, the payoff matrix for X is: Y1...
For a two-person zero-sum game between X and Y, the payoff matrix for X is: Y1 Y2 Y3 X1 1 4 2 X2 4 1 2 Formulate the linear program for finding the best mixed strategy for X that maximizes its minimum expected pay off, EP, with p1 and p2 bein the respective probabilities for playing strategies X1 and X2.
Determine whether the two-person, zero-sum matrix game is strictly determined. 7 2 −3 −2 2 1...
Determine whether the two-person, zero-sum matrix game is strictly determined. 7 2 −3 −2 2 1 Yes, it is strictly determined.No, it is not strictly determined.     If the game is strictly determined, answer the following. (If the game is not strictly determined, enter DNE for each.) (a) Find the saddle point of the game. (b) Find the optimal strategy for each player. The optimal strategy for the row player is to play row  . The optimal strategy for the column player...
How would I create a game theory payoff matrix with a home buyer and a home...
How would I create a game theory payoff matrix with a home buyer and a home seller where the seller can accept, reject, or counteroffer and the home buyer can make an offer or make no offer? Any payoff in dollars is fine, just need to know how to figure this out.
1. Use a payoff matrix to illustrate a two player, two strategy playoff game where the...
1. Use a payoff matrix to illustrate a two player, two strategy playoff game where the nash equilibrium is not the social optimum?
The payoff matrix for a game is 4 −1 5 −6 2 1 1 −4 2...
The payoff matrix for a game is 4 −1 5 −6 2 1 1 −4 2 . (a) Find the expected payoff to the row player if the row player R uses the maximin pure strategy and the column C player uses the minimax pure strategy. (b) Find the expected payoff to the row player if R uses the maximin strategy 40% of the time and chooses each of the other two rows 30% of the time while C uses...
Consider a following zero-sum game of two players a) Reduce the initial game to a 2x2...
Consider a following zero-sum game of two players a) Reduce the initial game to a 2x2 game. Eliminate only strictly dominated strategies. In the obtained 2x2 game name Player 1’s (Row player’s) strategies “Up” and “Down” and Player 2’s (Column player’s) strategies “Left” and “Right”. b) Find all Nash equilibria of the 2x2 game (both in pure and mixed strategies) ALL ANSWERS MUST BE EXPLAINED. 2 0 1 -1 1 0 1 2 3 1 2 0
Consider a following zero-sum game of two players a) Reduce the initial game to a 2x2...
Consider a following zero-sum game of two players a) Reduce the initial game to a 2x2 game. Eliminate only strictly dominated strategies. In the obtained 2x2 game name Player 1’s (Row player’s) strategies “Up” and “Down” and Player 2’s (Column player’s) strategies “Left” and “Right”. b) Find all Nash equilibria of the 2x2 game (both in pure and mixed strategies) ALL ANSWERS MUST BE EXPLAINED. 2          0          1          -1 1          0          1          2 3...
Construct your own coordination game, by selecting an appropriate game matrix (choose your own payoffs). Find...
Construct your own coordination game, by selecting an appropriate game matrix (choose your own payoffs). Find the Nash equilibrium (or equilibria) for this game. What do you need to change in your payoff matrix to obtain a potential game? Find the potential function for your proposed potential game.
The following payoff matrix represents a single-period, simultaneous move game to be played by two firms....
The following payoff matrix represents a single-period, simultaneous move game to be played by two firms. Show all the best responses for each player by placing checkmarks next to each payoff that reflects a best response choice. Does Firm A have a dominant strategy and if so, what is it? Does Firm B have a dominant strategy and if so, what is it? Does a Nash Equilibrium (or multiple NE) exist for this game and if so, what is it...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2...
Use the following payoff matrix for a one-shot game to answer the accompanying questions. Player 2 Strategy X Y Player 1 A 5, 5 0, -200 B -200, 0 20, 20 a. Determine the Nash equilibrium outcomes that arise if the players make decisions independently, simultaneously, and without any communication. Instructions: You may select more than one answer. Click the box with a check mark for the correct answers and click twice to empty the box for the wrong answers....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT