Game Theory in Operations Research and Decision Making
Game Theory in Operations Research and Decision Making, available at $44.99, has an average rating of 4.63, with 13 lectures, based on 8 reviews, and has 59 subscribers.
You will learn about Rules and Models in Game Theory Calculation of the best strategies using Game Theory Concept of Saddle Point and Pure Strategies Rules and Principles of Dominance and Modified Dominance This course is ideal for individuals who are Graduation Students, Management Students, MBA, BBA, Commerce students, Data Analytics students It is particularly useful for Graduation Students, Management Students, MBA, BBA, Commerce students, Data Analytics students.
Enroll now: Game Theory in Operations Research and Decision Making
Summary
Title: Game Theory in Operations Research and Decision Making
Price: $44.99
Average Rating: 4.63
Number of Lectures: 13
Number of Published Lectures: 13
Number of Curriculum Items: 13
Number of Published Curriculum Objects: 13
Original Price: ₹1,499
Quality Status: approved
Status: Live
What You Will Learn
- Rules and Models in Game Theory
- Calculation of the best strategies using Game Theory
- Concept of Saddle Point and Pure Strategies
- Rules and Principles of Dominance and Modified Dominance
Who Should Attend
- Graduation Students, Management Students, MBA, BBA, Commerce students, Data Analytics students
Target Audiences
- Graduation Students, Management Students, MBA, BBA, Commerce students, Data Analytics students
The term game represents a conflict between two or more parties .Game Theory may be defined as the body of knowledge that deals with making decisions when two or more intelligent and rational opponents are involved under conditions of conflict and competition. In this course, the students will learn:
-
Concept of Game
-
Saddle Point
-
Dominance Rule
-
Modified Dominance Rule
-
Oddoment Method
-
Graphical Method
-
Sub Games Method
-
Algebraic Method
-
Problem Formulation
Lets discuss some Characteristics of Games
1.The number of competitors is finite.
2. The player act rationally and intelligently.
3. Each player has available to him a finite set of possible courses of action.
4. The players attempt to maximize gains and minimize losses.
5. The outcome of the game is affected by the choices made by all the players.
6. Every participant has the knowledge above the alternatives available to his opponent.
7. A game is played when each player chooses his one course of action.
8. Every combination of courses of action determines an outcome which results in a gain
or loss to each player.
9. There exits a set of rules according to which the value of game will be determined.
Concepts & Terminology in Game Theory
1) Player- Each participant (party) is called a player.
2) Play- A play of the game results when each player has chosen a course of action.
3) Strategy- A rule or set of rules on the basis of which a player selects his alternative. It refers to the total pattern of choices employed by any player.
4) Pure strategy- A pure strategy is a decision always to select the same course of action when a player plays one row all of the time or one column all of the time in case of player 4), he is said to be playing a pure strategy.
5) Mixed strategy – Mixed strategy is a decision to select more than one of his course of action with fixed probabilities. In a mixed strategy, player A will play each of his rows a certain portion of the time and player Y will play each of his columns a certain part of time.
6) Value of the game- The value of the game is the expected gain(or loss) of both the players , if both players use their best strategies.
7) Two person zero sum game-Two person zero sum game are played by two persons, parties or groups, with directly opposing interests . One person’s gain is exactly equal to the loss of another player and therefore the sum total of the gain and loss is equal to zero.
8) Payoff- The outcome of playing the game is known as payoff. It is the net gain or loss the strategy brings to the player.
9) Payoff matrix- The table/matrix representing the outcome or payoff of different strategies of the game is known as payoff matrix.
10) Saddle point-It is known as the equilibrium point of the game. Saddle point is the condition when maximin value is equal to the minimax value.It is called as the value of the game.
11) Maximin Principle-According to this principle, The player adopts a pessimistic attitude. The maximizing player decides to play those strategies corresponding to the maximum of the minimum gains for his different courses of action.
Minimax Principle-The minimizing player selects the strategies, which correspond to the minimum of the maximum losses for his different courses of action, which is referred to as Minimax principle.
Course Curriculum
Chapter 1: Introduction
Lecture 1: Introduction of Game Theory
Lecture 2: Introduction
Chapter 2: Saddle Point
Lecture 1: Saddle Point
Lecture 2: Saddle Point -II
Chapter 3: Dominance Rule and Modified Dominance Rule
Lecture 1: Dominance Rule
Lecture 2: Dominance Rule -II
Lecture 3: Modified Dominance Rule
Lecture 4: Modified Dominance Rule-II
Lecture 5: Modified Dominance Rule-III
Lecture 6: Modified Dominance Rule-IV
Chapter 4: Graphical & Sub Games
Lecture 1: Graphical & Sub Games
Chapter 5: 3 X 3 Algebraic Method
Lecture 1: 3 X 3 Algebraic Method
Chapter 6: Problem Formulation
Lecture 1: Problem Formulation
Instructors
-
Dr.Himanshu Saxena
MANAGEMENT PROFESSIONAL (MBA,Ph.D, UGC NET,SET QUALIFIED)
Rating Distribution
- 1 stars: 0 votes
- 2 stars: 0 votes
- 3 stars: 0 votes
- 4 stars: 4 votes
- 5 stars: 4 votes
Frequently Asked Questions
How long do I have access to the course materials?
You can view and review the lecture materials indefinitely, like an on-demand channel.
Can I take my courses with me wherever I go?
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!
You may also like
- Top 10 Video Editing Courses to Learn in November 2024
- Top 10 Music Production Courses to Learn in November 2024
- Top 10 Animation Courses to Learn in November 2024
- Top 10 Digital Illustration Courses to Learn in November 2024
- Top 10 Renewable Energy Courses to Learn in November 2024
- Top 10 Sustainable Living Courses to Learn in November 2024
- Top 10 Ethical AI Courses to Learn in November 2024
- Top 10 Cybersecurity Fundamentals Courses to Learn in November 2024
- Top 10 Smart Home Technology Courses to Learn in November 2024
- Top 10 Holistic Health Courses to Learn in November 2024
- Top 10 Nutrition And Diet Planning Courses to Learn in November 2024
- Top 10 Yoga Instruction Courses to Learn in November 2024
- Top 10 Stress Management Courses to Learn in November 2024
- Top 10 Mindfulness Meditation Courses to Learn in November 2024
- Top 10 Life Coaching Courses to Learn in November 2024
- Top 10 Career Development Courses to Learn in November 2024
- Top 10 Relationship Building Courses to Learn in November 2024
- Top 10 Parenting Skills Courses to Learn in November 2024
- Top 10 Home Improvement Courses to Learn in November 2024
- Top 10 Gardening Courses to Learn in November 2024