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Optimal strategies for two-person normalized matrix game with variable payoffs

Author

Listed:
  • Ajay Kumar Bhurjee

    (National Institute of Science and Technology)

  • Geetanjali Panda

    (Indian Institute of Technology Kharagpur)

Abstract

This paper considers a two-person zero-sum game model in which payoffs are varying in closed intervals. Conditions for the existence of saddle point for this model is studied in this paper. Further, a methodology is developed to obtain the optimal strategy for this game as well as the range of the corresponding optimal values. The theoretical development is verified through numerical example.

Suggested Citation

  • Ajay Kumar Bhurjee & Geetanjali Panda, 2017. "Optimal strategies for two-person normalized matrix game with variable payoffs," Operational Research, Springer, vol. 17(2), pages 547-562, July.
    • Handle: RePEc:spr:operea:v:17:y:2017:i:2:d:10.1007_s12351-016-0237-x
    DOI: 10.1007/s12351-016-0237-x
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    References listed on IDEAS

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    1. Xefteris, Dimitrios, 2015. "Symmetric zero-sum games with only asymmetric equilibria," Games and Economic Behavior, Elsevier, vol. 89(C), pages 122-125.
    2. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, December.
    3. Prasun Kumar Nayak & Madhumangal Pal, 2009. "Linear Programming Technique To Solve Two Person Matrix Games With Interval Pay-Offs," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 26(02), pages 285-305.
    4. A. Bhurjee & G. Panda, 2012. "Efficient solution of interval optimization problem," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 76(3), pages 273-288, December.
    5. Li, Deng-Feng, 2011. "Linear programming approach to solve interval-valued matrix games," Omega, Elsevier, vol. 39(6), pages 655-666, December.
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