D2 - Unit 5 Flashcards
What are the games called?
A two person zero sum game.
What is a payoff matrix?
A matrix where the numbers the numbers are player 1’s gain.
What is a playsafe strategy
Where the best of the worst scenarios is chosen.
What is a stable game?
Where both playsafe numbers are equal
How to find the playsafe?
Find the row minimums. Choose the biggest/least bad of these.
Find the column maximums. Choose the smallest of these
What is a dominant column or row?
When comparing two columns/rows, on is always better than the other and always has a better outcome whichever is chosen.
How to solve a game where A plays one option with probability p and the other with (1-p)
Times p by the expected outcomes and (1-p) by the expected outcomes.
Plot these on the graph.
Choose the highest point under the lines.
This is the optimal value of p.
Sub in p to find the expected value of the game.
How to find the optimal value of p on a graph with three lines.
Choose the best worst value ie. the highest point where the lowest two lines meet. (the worst possible value is better than any other worse values)
