This document provides an overview of game theory concepts including the Prisoner's Dilemma, Nash Equilibrium, payoff matrices, pure and mixed strategies, and zero-sum games. It discusses terminology used in game theory like the number of players, strategies, and payoffs. Examples are provided to illustrate concepts like saddle points, dominance rules, and solving 2x2, 2x3, and 4x2 games using graphical and algebraic methods.
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.
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.
Assignment Chapter - Q & A Compilation by Niraj ThapaCA Niraj Thapa
My name is Niraj Thapa. I have compiled Assignment Chapter including SM, PM & Exam Questions of AMA.
You feedback on this will be valuable inputs for me to proceed further.
Assignment Chapter - Q & A Compilation by Niraj ThapaCA Niraj Thapa
My name is Niraj Thapa. I have compiled Assignment Chapter including SM, PM & Exam Questions of AMA.
You feedback on this will be valuable inputs for me to proceed further.
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.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
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The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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1. GAME THEORY
“Trust None. For oaths are straws, men’s faiths are wafer-cakes.” -
William Shakespeare (Henry V)
Prisoners’ Dilemma
Sanya and Cinque: Two Players (Two robbers of Hibernia Savings
Bank)
Payoff Matrix
Bill
Confess Not Confess
Al
Confess 3, 3 1, 10
Not Confess 10, 1 2, 2
2. NASH EQULIBRIUM
Nash Equilibrium (Game theory) - A stable state
of a system that involves several interacting
participants in which no participant can gain by
a change of strategy as long as all other
participants remain unchanged.
3. Game Theory is basically a strategic interaction between mutually
aware players.
It is based on the fact that “You are self-interested and selfish”
So is everyone else....
Terminology
a) No. of players: Two-person game and n-person game
b) Sum of gains and losses: zero-sum game and non-zero sum game
c) Strategy: It is set of rules which a person should adopt at each play
Pure-strategy - If a player knows what course of action he is going to
adopt based on the knowledge about opponent’s course of action,
then he always selects a particular course of action (known with
certainty)
Mixed-strategy - When both the players are guessing as to which
course of action is to be selected on a particular occasion with certain
probability then it is a mixed-strategy game
4. d) Two-person, Zero-sum games: A game with two players where
the loss of one player is equal to gain of the other with net gain
being zero.
e) Payoff Matrix:Row designations are Player A’s strategies and
Column designations are Player B’s strategies.
Player B’s Strategies
B1 B2 ............ Bn
Player A’s
Strategies
A1 a11 a12 ............ a1n
A2 a21 a22 ............ a2n
.
. .
.
.
.
............
..
..
Am am1 am2 ............ amn
5. Pure strategies
Maximin and Minimax Strategies
Payoff matrix for A Firm B’s Strategy
B
1 2 -2
Firm A’s
A 2 -3 -4 Strategy
0 -1 2
Player B
Solve the following:
Player A
1 2
1 20 -6
2 8 2
3 -4 1
B1 B2 B3 B4
A1 1 7 3 4
A2 5 6 4 5
A3 7 2 0 3
6. saddle point
If Maximin = Minimax = Value of the game, then we have a
Saddle Point. Saddle Point of a payoff matrix is the position of an
element which is minimum in its row and maximum in its
column.
Player B
Player A
Player B
Player A
8 7 15 12
9 14 8 10
10 12 14 13
-7 -4
7 -3
8 -2
8. 4) Assume that two firms are competing for the market share for a
particular product. Each firm is considering what promotional
strategy to employ for the coming period. Assume that the
following payoff matrix describes the increase in market share of
Firm A and the decrease in market share for Firm B. Determine the
optimal strategies for each firm.
a) Which firm would be winner, in terms of market share?
b) What might the two firms do to maximize their profits or
minimize their losses?
Firm B
No
Promotion
Moderate
Promotion
More
Promotion
Firm A
No
Promotion
5 0 -10
Moderate
Promotion
10 6 2
More
Promotion
20 15 10
10. Algebraic Method (2 x 2) games
5) Solve the following 2 x 2 games without saddle points
B B
A A
6) Two players A & B without showing each other, put a coin on a
table, with head or tail up. A wins Rs.8 when both coins show
head and Re.1 when both are tails. B wins Rs.3 when the coins do
not match. Given the choice of being a matching player (A) and
non-matching player (B), which one would you choose and what
would be your strategy?
5 1
3 4
6 -3
-3 0
11. The Rules of Dominance: If a row or column is dominated by
another row or column in terms of pay-offs, then the dominated
row or column can be deleted to reduce a ‘n x m’ matrix to a ‘2 x 2’
matrix.
Player B
For ex.:
Player A
Player B
Player A
I II III
I -4 6 3
II -3 -3 4
III 2 -3 4
B1 B2 B3 B4
A1 3 2 4 0
A2 3 4 2 4
A3 4 2 4 0
A4 0 4 0 8
12. 7) In an election campaign, the strategies adopted by the ruling
and opposition party along with payoffs (ruling party’s % share in
votes polled) are given below. Assume a zero-sum game. Find
optimum strategies for both parties and expected payoff to ruling
party.
Opposition Party’s Strategies
Campaigning one
day in each city
Campaigning two
days in each city
Campaigning two
days in large rural
area
Ruling
Party’s
Strategies
Campaigning one
day in each city
55 40 35
Campaigning two
days in each city
70 70 55
Campaigning two
days in large
rural area
75 55 65
13. 8) A steel company is negotiating with its union for revision of
wages to its employees. The management, with the help of a
mediator, has prepared a payoff matrix shown below. Plus sign
indicates a wage increase, while a negative sign indicates a wage
decrease. Union has also constructed a table which is comparable
to that developed by management. What strategies are best for the
management and union and what is the value of the game?
Union Strategies
U1 U2 U3 U4
Steel Co.
Strategies
C1 2.5 2.7 3.5 -0.2
C2 2.00 1.60 0.80 0.80
C3 1.40 1.20 1.50 1.30
C4 3.00 1.40 1.90 0
14. Arithmetic Method
9) Solve the following game:
10) Two breakfast food mfgers, ABC and XYZ are competing for an increased
market share. The pay-off matrix, shown in the following table, shows the
increase in market share for ABC and decrease in market share for XYZ.
Simplify the problem by rule of dominance and find optimum strategies and
value of game.
Player B
B1 B2 B3
Player
A
A1 1 7 2
A2 6 2 7
A3 5 2 6
Give coupons Decrease Price
Maintain
Present Strategy
Increase
advertising
Give coupons 2 -2 4 1
Decrease Price 6 1 12 3
Maintain Present
Strategy
-3 2 0 6
Increase
advertising
2 -3 7 1
15. graphical method
Graphical method is used to convert a m x 2 and 2 x n matrices to
a 2 x 2 matrix.
For a 2 x n matrix problem, we have to find a maximin point and
for a m x2 matrix problem we have to find a minimax point.
2 x n matrix problem B’s Strategies
11) Solve the 2 x 3 game graphically
A’s strategies
12) Solve the 4 x 2 game graphically
m x 2 matrix problem
A
I II III
I 1 3 11
II 8 5 2
I II
I 2 4
II 2 3
III 3 2
IV -2 6
16. 13) A soft drink company calculated the market share of two
products against its major competitor having three products and
found out the impact of additional advertisement in any one of its
products against the other.
What is the best strategy for
the company as well as the
competitor? what is the
payoff obtained by the
company and the competitor
in the long run? Use graphical method to obtain the solution.
Competitor B
B1 B2 B3
Company
A
A1 6 7 15
A2 20 12 10