Applications of game theory on event management Sameer Dhurat
Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." Game theory is mainly used in economics, political science, and psychology, as well as logic, computer science and biology.
In this presentation ,discussed regarding Application of game theory on Event Management with the help of Prisoner's Dilemma Game
Applications of game theory on event management Sameer Dhurat
Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." Game theory is mainly used in economics, political science, and psychology, as well as logic, computer science and biology.
In this presentation ,discussed regarding Application of game theory on Event Management with the help of Prisoner's Dilemma Game
This presentation about game theory particularly two players zero sum game for under graduate students in engineering program. It is part of operations research subject.
This presentation is an attempt to introduce Game Theory in one session. It's suitable for undergraduates. In practice, it's best used as a taster since only a portion of the material can be covered in an hour - topics can be chosen according to the interests of the class.
The main reference source used was 'Games, Theory and Applications' by L.C.Thomas. Further notes available at: http://bit.ly/nW6ULD
This is the first of an 8 lecture series that I presented at University of Strathclyde in 2011/2012 as part of the final year AI course.
This lecture introduces the concept of a game, and the branch of mathematics known as Game Theory.
Game theory is the study of mathematical models of strategic interaction between rational decision-makers.The mathematical theory of games was invented by John von Neumann and Oskar Morgenstern (1944). For reasons to be discussed later, limitations in their mathematical framework initially made the theory applicable only under special and limited conditions.Increasingly, companies are utilizing the science of Game Theory to help them make high risk/high reward strategic decisions in highly competitive markets and situations. ... Said another way, each decision maker is a player in the game of business.
GAME THEORY
Terminology
Example : Game with Saddle point
Dominance Rules: (Theory-Example)
Arithmetic method – Example
Algebraic method - Example
Matrix method - Example
Graphical method - Example
This presentation about game theory particularly two players zero sum game for under graduate students in engineering program. It is part of operations research subject.
This presentation is an attempt to introduce Game Theory in one session. It's suitable for undergraduates. In practice, it's best used as a taster since only a portion of the material can be covered in an hour - topics can be chosen according to the interests of the class.
The main reference source used was 'Games, Theory and Applications' by L.C.Thomas. Further notes available at: http://bit.ly/nW6ULD
This is the first of an 8 lecture series that I presented at University of Strathclyde in 2011/2012 as part of the final year AI course.
This lecture introduces the concept of a game, and the branch of mathematics known as Game Theory.
Game theory is the study of mathematical models of strategic interaction between rational decision-makers.The mathematical theory of games was invented by John von Neumann and Oskar Morgenstern (1944). For reasons to be discussed later, limitations in their mathematical framework initially made the theory applicable only under special and limited conditions.Increasingly, companies are utilizing the science of Game Theory to help them make high risk/high reward strategic decisions in highly competitive markets and situations. ... Said another way, each decision maker is a player in the game of business.
GAME THEORY
Terminology
Example : Game with Saddle point
Dominance Rules: (Theory-Example)
Arithmetic method – Example
Algebraic method - Example
Matrix method - Example
Graphical method - Example
Students should be able to:
Use simple game theory to illustrate the interdependence that exists in oligopolistic markets
Understanding the prisoners’ dilemma and a simple two firm/two outcome model. Students should analyse the advantages/disadvantages of being a first mover
Students will not be expected to have an understanding of the Nash Equilibrium
There are games everywhere, and we are creating them all the time without even knowing it. We have the “get the project green” game, the “highest team velocity wins” game, and the “meet the go-live date” game. But it’s about time we learnt how to design better games, having people compete to win the “create the most value” game or “increase stakeholder happiness” - much better alternatives in our world.
Most commonly used in war games and global economics, game theory is a branch of mathematics not just reserved for those interested in world domination. Defined as “the study of mathematical models of conflict and cooperation between intelligent rational decision-makers”, it helps us understand and analyse how people may behave under different circumstances. It helps us analyse payoffs, determine implications and strategies that people will take and hence utilise this information to create games that drive behaviour.
Learn the basics of game theory through an exercise and examples, predict people’s next move and become a good (not evil) gamemaster.
I provide a (very) brief introduction to game theory. I have developed these notes to
provide quick access to some of the basics of game theory; mainly as an aid for students
in courses in which I assumed familiarity with game theory but did not require it as a
prerequisite
In this presentation we introduce the game balance "interesting strategies". It is especially important as games with a single dominant strategy are boring. No strategy must be much better than others and without drawbacks.
These slides were prepared by Dr. Marc Miquel. All the materials used in them are referenced to their authors.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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2. Introduction
We studied models with internal interest
LPP, Transportation, Assignment etc
In practical life, it is required to take decisions
• in a competing situation
• there are two or more opposite parties with
conflicting interest and
• the outcome is controlled by the directions
of all parties concerned
3
3. Let’s play the “grade game”
If you put A and your pair puts B, then you will get grade 10, and your
pair grade 3;
If both you and your pair put A, then you both will get the grade 7
If you put B and your pair puts A, then you will get the grade 3
and your pair grade 10;
If both you and your pair put B, then you will both get grade 9
4
Write down on a paper either the letter A or the letter B.
Think of this as a "grade bid". I will randomly pair your paper with
one other's paper. Neither you nor your pair will ever know with
whom you were paired. Here is how grades may be assigned for this
class:Rules
4. Outcome matrix
• Just reading the text is hard to absorb, let’s
representing the game:use a concise way
my pair
of
A B
A
me
B
grades 6
7,7 10,3
3,10 9,9
5. The grade game: discussion
What did you choose? Why?
Two possible way of thinking:
– Regardless of my partner choice, there would be better
outcomes for me by choosing A rather than B;
– We could all be collusive and work together, hence by
choosing B we would get higher grades.
•
•
8
6.
7. There may be win win
situations or Win Lose
situations or even Lose
Lose
8. What is a Game....?
1. How many persons are involved...?
2. Is any rule is needed ...?
3. What is the outcome...?
9. What is a Game....?
Game is an activity between two or more
persons according to a set of rules at the
end of which each person receives some
benefits or satisfaction or suffers loss
10. What is a Game theory....?
Is a theory of conflict. It is a mathematical
theory which deals with competitive
situations
11. A Competitive situation is called game
8
•The number of competitors called players
•The players act rationally and intelligently
•Each player has available to him a finite number of choices or
possible course of action called strategies.
•The players select their respective course of action (strategies)
simultaneously
•The players make individual decisions without direct communication
•The payoff is fixed and determined in advance
12. Terms
8
Strategy :- is a course of action taken by one
of the participants in a game
Pay off matrix – is the result or outcome of the
strategy is the pay off
Two person zero sum game: a game of two persons, in
which the gain of one player are the losses of the other
player
14. Pure strategy: is a decision where the
players always choose a particular course
of action
Mixed Strategy : play different strategies
each at a certain time. The player decides
in advance to use all or some of his
available course of action in some fixed
proportion
15. Value of the game: Maximum generated
gain to player. (fair game = value of the game is zero)
1. What is the expectation of a successful
player?
2. What is the expectation of an
unsuccessful player?
Maximin: Maximum of minimum pay off or
outcome
MiniMax: Minimum of the Maximum pay
off
16. Company StrategiesUnionStrategies
I II III IV V
I 2 0 0 50 30
II 40 20 10 20 50
III -40 -30 0 -30 60
IV 50 10 -50 -20 -60
Row
minimu
m
2
10
-40
-60
Column Maximum 50 20 10 50 60
10
10
Saddle Point
Minimum in the row and
maximum in the column
A Company Management and Labour Union are negotiating a new 3 year settlement.
Strategy I. Hard and Aggressive Bargaining II. Reasoning & Logical Approach
III. Legalistic strategy IV. Conciliatory approach
17. Value of Game = 10
Union’s strategy = II – Reasoning and logical approach
Company’s strategy = 3 – Legalistic strategy
Will continue.......