Find the value of the game specified by the following payoff matrix.

00110121111110011203111103210211

(Hint: Consider the mixed strategies (13,0,0,12,16,0,0,0)and )(23,0,0,13))

Short Answer

Expert verified

The value of the game is-1 by reducing dominance. Otherwise, without a reduction solution for this payoff matrix is not possible.

Step by step solution

01

Payoff matrix

The payoff matrix had rows and columns that make a move for winning. Row and columns have a mixed strategy to win the game. By observing the opponent’s moves, strategies are predicted. The average payoff is represented as follows,

i,jGIj.P[Rows,column]=i,jGIjxiyj ......(1)

02

Calculation of the game value

The given payoff matrix is more significant, with eight rows and four columns. The larger matrix is reduced by the dominance of the probability of rows and columns.

Sum the row and column values, and delete the rows and columns with the least values.

00110121111110011203111103210211220042220806

The reduced matrix after deleting the dominance is 1110

The row min max of the matrix 1110is -1, The column max min of the matrix is -1.

rowminmax=columnmaxmin-1=-1

The above value is denoted as, Gij=-1 ......(2)

From the given mixed strategies 13,0,0,12,16,0,0,0and 23,0,0,13,

13+0+0+12+16+0+0+0=123+0+0+13=1

Substitute the values of mixed strategies sums and the value of Equation (2) in Equation (1).

i,jGIj.P[Rows,column]=i,jGIjxiyj(-1)13+0+0+12+16+0+0+0.23+0+0+13=1=i,jGIjxiyj

Solving the above equation,

i,jGIjxiyj=-1

Therefore, the value of the game is -1 by reducing dominance. Otherwise, without a reduction solution, a payoff matrix is not possible.

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