Question

In: Statistics and Probability

How do partial and total conflict affect playing strategies? Why might it be important to understand...

How do partial and total conflict affect playing strategies? Why might it be important to understand the influences of total and partial conflict on playing strategies?

Solutions

Expert Solution

Partial conflict game: As opposed to a total conflict game where if a player wins x his opponent loses x, in a partial conflict game the players are not strictly opposed, so it is possible for both players to win or lose some value. In a partial sum game the sum of the values for the two players do not sum to zero.

Total conflict:each player attempts to maximize his payoffs and necessarily minimizes the other player in the process. But in a partial conflict game, a player may have any of the following four objectives taken from Giordano et al

1. Maximize his payoffs. Each player chooses a strategy in an attempt to maximize his payoff. While he reasons what the other player’s response will be he does not have the objective of insuring the other player gets a “fair” outcome. Instead, he “selfishly” maximizes his payoff.

2. Find a stable outcome. Quite often players have an interest in finding a stable outcome. A Nash equilibrium outcome is an outcome from which neither player can unilaterally improve, and therefore represents a stable situation. For example, we may be interested in determining whether two species in a habitat will find equilibrium and coexist, or will one species dominate and drive the other to extinction? [Giordano, 6] The Nash equilibrium is named in honor of John Nash [7] who proved that every two person game has at least one equilibrium in either pure strategies or mixed strategies.

3. Minimize the opposing player. Suppose we have two corporations whose marketing of products interact with each other, but not in total conflict. Each may begin with the objective of maximizing his payoffs. But, if dissatisfied with the outcome, one, or both corporations, may turn hostile and choose the objective of minimizing the other player. That is, a player may forego their long-term goal of maximizing their own profits and choose the short term goal of minimizing the opposing player’s profits. For example, consider a large, successful corporation attempting to bankrupt a “start-up venture” in order to drive him out of business, or perhaps motivate him to agree to an arbitrated “fair” solution.

4. Find a “mutually fair” outcome, perhaps with the aid of an arbiter. Both players may be dissatisfied with the current situation. Perhaps, both have a poor outcome as a result of minimizing each other. Or perhaps one has executed a “threat’ as we study below, causing both players to suffer [Giordano, 6]. In such cases the players may agree to abide by the decision of an arbiter who must then determine a “fair” solution and does according to Nash.


Related Solutions

How might the identified strategies be used to prevent or to minimize conflict?
How might the identified strategies be used to prevent or to minimize conflict?
How do you understand efficient market hypothesis(EMH), and why does it important?
How do you understand efficient market hypothesis(EMH), and why does it important?
Why is it important to understand the tax law changes that may affect withholding amounts? It...
Why is it important to understand the tax law changes that may affect withholding amounts? It is critical that you are able to explain the reasons for the change in the outcome and to help taxpayers make adjustments accordingly. It is critical to explain the withholding tables and exactly how they are computed. Taxpayers always ask for your help with completing their Forms W-4. To verify employers are withholding the correct amount of federal tax.
How do short sales and leverage work, and how do they affect the returns, strategies, and...
How do short sales and leverage work, and how do they affect the returns, strategies, and risks inherent in a portfolio?
answer to: a) What is haploinsufficiency? How might it affect cancer risk? b) Why do mutations...
answer to: a) What is haploinsufficiency? How might it affect cancer risk? b) Why do mutations in genes that encode DNA-repair enzymes often produce a predisposition to cancer?
1,Why do nurses need to understand the importance of conflict resolution and management? 2, What are...
1,Why do nurses need to understand the importance of conflict resolution and management? 2, What are some of the negative effects of unresolved conflict? 3,What are the benefits of improved conflict with positive resolutions?
Part A: Describe how might trends mentioned in the articles provided, affect decisions and strategies of...
Part A: Describe how might trends mentioned in the articles provided, affect decisions and strategies of corporations and managers; in consideration of areas such as growth, sales, production, alliances, mergers, competition, exporting/importing goods or services, outsourcing, etc. Part B: What affect might these trends have on national or domestic businesses and consumers? 6 Key Economic Trends for 2018 From tax reform to a changing global landscape, these are the major forces affecting the economy in the coming year. The economy...
Understand how and why compensation systems might vary across nations.
Understand how and why compensation systems might vary across nations.
1 why is it important for students in accounting to understand how to use a manual,...
1 why is it important for students in accounting to understand how to use a manual, paper based accounting system when most accounting systems are electronic today? 2- why are there so many different accounting information systems software packages ? 3- in your opinion, what area of accounting needa computerized accounting software the most? payroll? tax? auditing? something else? 4- forensic means " suitable for use in a court of law." how does that have anything to do with accounting?...
Conflict Resolution Consider the five conflict resolution strategies you examined in this module. Which one do...
Conflict Resolution Consider the five conflict resolution strategies you examined in this module. Which one do you personally believe is the best one? Why? What advice would you give a friend who wanted to try the strategy? Give an example of a time you used a conflict resolution strategy. Was it effective? Why or why not?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT