True or false
23. In game theory, the player seeking to maximize the value of the game selects a maximax strategy.
a. True
b. False
Problem
24. Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Player A. Identify the pure strategy solution. What is the value of the game?
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Player B Strategies
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Player A Strategies
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b1
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b2
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b3
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a1
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5
|
5
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4
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a2
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1
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6
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2
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a3
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7
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2
|
3
|
However I do have the answers for the two questions I just need the steps
Optimal pure strategies: Player A uses strategy a1; Player B uses strategy b3. Value of game: Gain of 4 for Player A; loss of 4 for Player B.
Optimal pure strategies: Player A uses strategy a1; Player B uses strategy b3. Value of game: Gain of 4 for Player A; loss of 4 for Player B.
25. Consider a two-person, zero-sum game where the payoffs listed below are the winnings for Company X. Identify the pure strategy solution. What is the value of the game?
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Company Y Strategies
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Company X Strategies
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y1
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y2
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y3
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x1
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3
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5
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9
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x2
|
8
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4
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3
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x3
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7
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6
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7
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ANS:
Optimal pure strategies: Company X uses strategy x3; Company Y uses strategy y2. Value of game: Gain of 6 for Company X; loss of 6 for Company Y.