Add paragraph text here.
Game theory is a very important branch of mathematics. And along with being crucial part of education, it is also true that it tends to get complex at times. Both of these facts cannot be undermined at any stage. So, when it comes to writing a game theory assignment, a lot of students begin to feel jittery.
Our experts at Assignment Desk have observed some common difficulties faced by students in prisoner’s dilemma, which is an imperative part of game theory. One of these problems has been underlined below for your reference.
As you might already know, that prisoner’s dilemma happens when the police catch two people, namely Criminal A and Criminal B, under the same case, and both of them are taken for interrogation. Now, both of these criminals have the choice to accept or deny the crime, which leads to the generation of the following four situations:
1. Both of them accept the crime
2. Criminal A accepts, and Criminal B denies
3. Criminal B accepts, and Criminal A denies
4. Both of them deny
Under the first three of these situations, at least one of them will have to go to jail to bear the punishment for their crime.
The problem here is asymmetric as none of these criminals know what the other is going to do. Suppose Criminal A accepts the crime, Criminal B won’t know about it until and unless Criminal A himself or someone else tells him about it and vice versa.
This is just an example of the kinds of problems you come across in game theory, and the following are the tips that you can try to find a solution to these.
Used A Mixed Strategy Only When There Is No Pure Strategy To Take: There are two strategies to solve all game theory problems - Pure strategies and mixed strategies. You must try any use only pure strategy in the first place and not a mixed strategy. Go for a mixed strategy when there is no pure strategy.
Start With A Pay Off Matrix: When you do not know what to do with a particular problem, the best you can do is try solving it using a pay off matrix. It will give you a lead for your question, and most of the time, it is the right step to take.
Conclusion…
Try following these two tips whenever you find it hard to solve a game theory problem. If none of these works, do not hesitate to avail help from our experts at Assignment Desk. They will try to provide you with all the knowledge they have to find an answer to your question.
All the best!
