Get Instant Help From 5000+ Experts For
Get Instant Help From 5000+ Experts For
  

Game Theory Assignment & Homework Help Online

Are you struggling with Game Theory Assignment? Do you need Game Theory Assignment  Help? Game Theory Homework Help? 

Our team of Economics experts equipped with PhDs and Masters can help on a wide range of Economics assignment topics. 

Game theory models are used by managers in taking better decisions regarding price and output. As managers work in interactive payoff environments, they need a framework that anticipates the actions of others.

Game Theory

Game theory was developed in the early 40s in connection with war strategies. Now it is used by managers in respect of rational decisions in strategic situations. As the payoffs are dependent on the actions (behavior) of all players, managers must form expectations about the behavior of others. Specifically, because payoffs are interactive, a manager’s optimal decision depends on what he expects others to do. This means that others are similarly guided so all are aware that each must form beliefs about what others believe you believe and you believe others believe and so forth. This is called chain of reciprocal expectations. Good managers attempt to influence the behavior of others by systematically evaluating the variables subject to their control and using these variables to influence expectations.

Game theory is extremely helpful for making competitive sense of some of the most common strategic situations in the business world- situations where conflict interfaces with mutual dependence. Such games are common both within the organization and in market actions between firms, for example, in price wars, new product introductions, strikes, negotiations and divisional relationships. In these situations players having conflicting objectives but also share a mutual dependence.

Game Theory Assignment Help

Two –Person Games:
Each player- a player may be a single player or an organization- is a decision making unit with a certain amount of resources. The rules of the game describe how these resources can be utilized. For ex: the President of a corporation wants his R&D program to start and what should be done at subsequent times in response to various actions of competing firms. The game’s outcome clearly depends on the strategies used by each player.  In these Two-Person games, there is dominant strategy for each player.

Nash Equilibrium:
Nash equilibrium uses solution concept, where two or more players are involved. In the game all the players are assumed to know the equilibrium strategies of other players and no player gains anything by changing his or her own strategy unilaterally. One player if he changes his strategy while others keep their strategies unchanged, then the current set of strategy choices and corresponding payoffs constitute a Nash equilibrium. For ex: If A and B are in Nash equilibrium, A makes the best decision, taking into account B’s decision and B is taking a decision taking into account A’s decision. 

Prisoner’s Dilemma:
A specific type of game called Prisoner’s Dilemma is particularly useful in oligopolistic competition. To illustrate this type of game, consider a situation where two people A and B get arrested for doing some illegal activity. The police question them separately saying, if you confess and your friend does not then you will get 2 years and he will get 8 years.  If they both confess, they will get 8 years because they have cooperated with the police. If neither confesses, then they will both get only four years as evidence against them is weak. Both A and B have two possible strategies: to confess or not to confess. The four possible outcomes, depending on which strategy each person chooses are shown in the table below. Since A will serve less time than he would if he did not confess. If B confesses, the better strategy for A is to confess, since A will serve 8 years than he will serve 10 years. Thus, regardless of which strategy B adopts, A is better off to confess than not confess. Similarly, B will also confess regardless of which strategy A adopts, B is better off to confess than not to confess. Consequently, both A and B will confess. This is the dominant strategy for both players. However, it is important to understand that both are doing worse if neither of them is confessing. Even if they were to meet and decide on something, they would still go ahead and break the agreement.  

Want to know how to proceed? 

Game Theory Assignment Help

Fill up the assignment help request form on the right or drop us an email at support@helpwithassignment.com. Feel free to contact our customer support on the company 24/7 Live chat or call us on 312-224-1615.

HelpWithAssignment provides timely help at affordable charges with detailed answers to your assignments, homework, research paper writing, research critique, case studies or term papers so that you get to understand your assignments better apart from having the answers. The team has helped a number of students pursuing education through regular and online universities, institutes or online Programs.

Book Your Assignment

Drop files here or click to upload.
Or click here to upload

How It Works

Step 1

Upload
Assignment

Step 2

Get A Price Quote Within Minutes

Step 3

Make The
Payment

Step 4

Track Your Request Through Tracker

Step 5

Receive Completed Assignment In Inbox

Customer Reviews

I was having a hard time keeping up with the different assignments given by the professors and soon I was looking at the approaching deadline to submit my thermal physics assignment. The online thermal physics assignment expert at HwA delivered my thermal physics assignment essay well within the deadline and helped me pass successfully.

Rajan Cherian Essay: , Deadline:

Rajan Cherian

I started taking serious help from HelpwithAssignment.com frommy fourth semester. They helped me get good grades and made me understand thebasics of Data Structure and Automata. I really needed help with those and nowthat I am getting help my level of confidence is increasing.

Jason Essay: , Deadline:

Jason

When I saw the prices of HelpWithAssignment law assignmenthelp for New Zealand students I was very skeptical of the quality. But I stillgave them a try and lets just say that the quality has been even better thanwhat I had expected. Since the legal assignment experts are practicingprofessionals from New Zealand they know exactly what is happening in the NewZealand legal world at the moment and help incorporate those into your lawassignment and law homework. 

Tristan Ingham Essay: , Deadline:

Tristan Ingham

After completing my graduation in accountancy I decided to pursue a course in taxation. However, my boat started to rock as an when I was faced with the complexity of the assumptions and considerations which needs to be made whilst calculating a business tax. I was clueless and I was looking for means to make things steady. It was then that my senior in the university suggested that I should take help from HwA and I did. The result was magnificent and while reading out their reports and calculations in my own free time, I also learned a lot. 

Steve Wheeler Essay: , Deadline:

Steve Wheeler

Material provided by the online mechanical engineering tutor at HwA was absolutely fantastic and just the thing I needed to write my mechanical engineering term paper on Fluid Mechanics. The online mechanical engineering tutor assigned to me helped me understand the crucial details of the topic and that along with the reference material and notes provided helped me to write my term paper and get an A in it!

Chris Huang Essay: , Deadline:

Chris Huang

Chemical engineering problems often used to confuse me. I was searchingfor some experts who can genuinely help with such solutions. I always lovedChemistry but Chemical Engineering was something completely different. I tookhelp from HelpWithAssignment on several occasions and so far they havedelivered the reports on time.

Sharon Robinson Essay: , Deadline:

Sharon Robinson

Get assignment help from subject matter experts!

4.7/5 rating | 1M+ happy students | Great tutors 24/7 | 11+yrs exp in academic writing