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Math Help - payoff

  1. #1
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    payoff

    Hi,

    Can some tell me a step-by-step method to finding the optimal strategies and value of any given payoff matrix.

    Thanks.
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  2. #2
    Super Member Aryth's Avatar
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    Quote Originally Posted by jedoob View Post
    Hi,

    Can some tell me a step-by-step method to finding the optimal strategies and value of any given payoff matrix.

    Thanks.
    I do know that the expected value is found by this equation:

    e = SPT

    Which says that the expected value equals the payoff matrix P times the mixed strategies S and T, where S is a row matrix, representing the row player and T is a column matrix, representing the column player.

    The expected value of the game is the average payoff per round if each player uses the associated mixed strategies for a large number of rounds.

    Someone else is going to have to help you out with the Optimal Strategies, I do know that a fair game has a value of 0, the rest are unfair or biased.
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  3. #3
    Junior Member frenzy's Avatar
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    Quote Originally Posted by jedoob View Post
    Hi,

    Can some tell me a step-by-step method to finding the optimal strategies and value of any given payoff matrix.

    Thanks.
    You can use the Simplex Algorithm (or a few other procedures depending on the game) to find the optimal strategy and the value of the payoff matrix.

    Do you have a specific problem in mind?
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