Sunday, 23 April 2017

Games Theory

Games Theory

Games Theory

                                                             Game theory is to determine the rules  of rational behavior in game .A game is finite when each player has a finite number  of moves and finite number of choices at each move.It provides a systematic quantitative method for analyzing  competitive situations in which the competitors  make use of logical process and techniques in order to determine an optimal strategy for winning .It is  depending on such factors as the number  of players ,sum of gains and losses and number of strategy employed in the game .For example,if the number of players are two,we refer to the game as two  person game .
game theory ruly

                                                                The zero -sum property  means  that payoff to one player and payoff to other  players together sum to zero.This means  that one player's gain is another's  loss and sum of net gain is zero.                                    

Some rules of the game are                                                                                        

1. The players act rationally and intelligently.                                      2. Each player has available to him to a finite set of possible courses of action.               
3. The players attempt to maximize gain and minimize losses.           4. All the relevant information is known to each player.                     5. The players make individual decisions without direct communication.                                
6. The players simultaneously select their respective course of action.                                                                   
7. The payoff is fixed and known in advance.

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