Flashcards in Game Theory Deck (8)

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1

## Basic games

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Two person game, zero sum

Pure strategy solution and straddle point

2

## Mixed Strategy solutions

### 2 x n games solved by graphic approach

3

## LP approach

### generic m x n game problem

4

## Gain matrix

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A is on the left, B is on the top

Gain for A for each strategy

Loss for B for each strategy

5

## Assumptions of basic game

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The entire matrix is known in advance by both

Both players are rational and risk averse (try to avoid losses)

No mutual gain/loss - zero sum

Strategies are given in secret

6

## Player A (gain)

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Maximin Criterion

Pessimistic view: whatever strategy A plays, believes B will play strategy so that As gain will be minimised

Avoid getting the worst case

7

## Player B (loss)

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Minimax Criterion

Pessimistic view: whatever strategy B plays, believes A will play strategy so that Bs loss will be maximised

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