GREATLY INCREASED PRACTICAL USEFULNESS OF TWO-PERSON GAME THEORY BY ADOPTION OF MEDIAN CRITERION.
SOUTHERN METHODIST UNIV DALLAS TEX DEPT OF STATISTICS
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Considered is discrete two-person game theory where the players choose their strategies independently. Two approaches using a median criterion have been developed for obtaining optimum solution. In the first approach, the payoffs are ranked according to desirability separately for each matrix with agreement between the players on these rankings. For the second approach, the possible outcomes of the game pairs of payoffs, one to each player are ordered according to desirability separately by each player. Only situations of players behaving competitively are considered for the first approach. Rather general situations can be considered for the second approach, which is usable for virtually all games. For both approaches, the payoffs can be of a very general nature some payoffs may not even be numbers. In the paper, the two approaches are outlined and their application properties are discussed. Author
- Operations Research