ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
2. Consider the odds and evens game and whose payoff table is shown as below. Player 2 (odd player) 2 (fingers) Strategy Player 1 (even player) 1 (finger) 2 (fingers) 1 (finger) 3 -4 −4 3 (a) Use the graphical procedure described in Sec. 15.4 from the viewpoint of player 1(the evens player) to, first find the maximin point, then determine the optimal mixed strategy for player 1 (the even player) according to the minimax criterion. (Do not need to find the optimal mixed strategy for player 2.) (b) Use the Oddments Method directly to find the optimal mixed strategies for both player 1 and player 2. (c) What is the corresponding value of the game?
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Transcribed Image Text:2. Consider the odds and evens game and whose payoff table is shown as below. Player 2 (odd player) 2 (fingers) Strategy Player 1 (even player) 1 (finger) 2 (fingers) 1 (finger) 3 -4 −4 3 (a) Use the graphical procedure described in Sec. 15.4 from the viewpoint of player 1(the evens player) to, first find the maximin point, then determine the optimal mixed strategy for player 1 (the even player) according to the minimax criterion. (Do not need to find the optimal mixed strategy for player 2.) (b) Use the Oddments Method directly to find the optimal mixed strategies for both player 1 and player 2. (c) What is the corresponding value of the game?
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