GAME THEORY l BASIC CONCEPTS l BeingGourav.Com
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Game theory is used for decision making under conflicting situations where there are one or more opponents (i.e., players).
Strategy
The strategy of a player is the predetermined rule by which player decides his course of action from his own list during the game
Pure Strategy
pure strategy is a decision rule always used by player to select a particular course of action.
Mixed Strategy
Mixed strategy is a selection among pure strategies with fixed probabilities.
Maximin Principle- Player A selects a strategy to maximize the minimum gains (pay-off).
Minimax Principle- Player B selects a strategy to minimize the maximum losses (pay-off).
A saddle point of a matrix is the position of such an element in the payoff matrix, which is minimum in its row and the maximum in its column.A game may have more than one saddle point.
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Please watch: "UNBALANCED ASSIGNMENT PROBLEM IN OPERATION RESEARCH | USING HUNGARIAN METHOD | Lecture 03"
Unbalanced Assignment Problem | Using...
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Game theory is used for decision making under conflicting situations where there are one or more opponents (i.e., players).
Strategy
The strategy of a player is the predetermined rule by which player decides his course of action from his own list during the game
Pure Strategy
pure strategy is a decision rule always used by player to select a particular course of action.
Mixed Strategy
Mixed strategy is a selection among pure strategies with fixed probabilities.
Maximin Principle- Player A selects a strategy to maximize the minimum gains (pay-off).
Minimax Principle- Player B selects a strategy to minimize the maximum losses (pay-off).
A saddle point of a matrix is the position of such an element in the payoff matrix, which is minimum in its row and the maximum in its column.A game may have more than one saddle point.
Thanks and Regards
Team BeingGourav.com
Please watch: "UNBALANCED ASSIGNMENT PROBLEM IN OPERATION RESEARCH | USING HUNGARIAN METHOD | Lecture 03"
Unbalanced Assignment Problem | Using...
6 سال پیش
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